In 2000, when James J. McNulty took over as president and chief executive officer of the Chicago Mercantile Exchange, it was not clear whether a U.S. futures exchange operating as a not-for-profit membership organization could successfully convert itself into a public company. Many exchange interest groups needed convincing and investor interest was unknown. Jim McNulty was hired to take on the task and he did so with remarkable success. He is also credited with helping to expand CME’s global footprint and reenergizing the currency quadrant by bringing the CME’s forex products online. McNulty brought an analytical mind and broad financial services industry perspective to CME. Prior to joining the exchange, he served as managing director and co-head of the corporate analysis and structuring team in the corporate finance division of SBC Warburg, an investment banking firm now known as UBS. From 1989 to 1993 he served as a partner at O’Connor & Associates. He left the exchange in December 2003 and currently serves on the boards of the NYSE Group and ICAP.