Hong Kong Exchanges and Clearing has named John Buckley and Wilfred Yiu as co-chief operating officers starting 1 June after current President and COO Calvin Tai retires. In their new roles, Buckley will continue to have oversight of the HKEX exchange operations and transformation functions, while Yiu will continue in his role as co-head of markets. In addition, Yiu will succeed Tai as chief executive of the Stock Exchange of Hong Kong (SEHK) and Hong Kong Futures Exchange Limited (HKFE), which are wholly owned subsidiaries of HKEX.
Buckley joined HKEX in December 2021 from Citadel, where he was COO, Asia for three years. Before joining HKEX in April 2019, Yiu was deputy CEO and COO of Beijing Gao Hua Securities Company and chairman of Qian Kun Futures Co. Prior to this, he was a managing director, FICC at Goldman Sachs in Hong Kong.
Tai has worked at the Asian bourse for 24 years. He joined the HKFE in July 1998 and has held several senior roles within HKEX Group, including interim chief executive, head of clearing, co-head of equities and FIC business, and head of the trading division.
Matthew Chamberlain, the chief executive officer of the London Metal Exchange, will remain in his post in a permanent capacity to steer the company through the fallout from March’s nickel crisis and to drive forward the exchange's long-term development. Chamberlain had previously announced his intention to step down as CEO at the end of April to join a crypto startup. The decision allows Adrian Farnham, who deferred retirement to act as interim CEO while Chamberlain’s successor was identified, to return to his original plan and step down as CEO of LME Clear in July. In other moves, Catherine Lester, LME Group's CFO for more than eight years, has left to pursue interests outside the group. Tabitha Silverwood, previously head of finance at LME, has taken over the role.
Francis La Salla, CEO of BNY Mellon's issuer services business, has been appointed CEO and president of the Depository Trust & Clearing Corporation, starting in August. La Salla will also lead the main DTCC subsidiaries, the Depository Trust Company, Fixed Income Clearing Corporation and National Securities Clearing Corporation. He will succeed Michael Bodson, who is retiring after serving as DTCC’s CEO since July 2012.
The UK Financial Conduct Authority has appointed Mel Gunewardena, currently chief market intelligence officer at the US Commodity Futures Trading Commission, as a senior advisor. Before the CFTC, Gunewardena was a managing director in Goldman Sachs' currency and commodities business, a senior managing director at both Deutsche Bank and State Street Global Markets, and a co-managing partner of G Capital Fund Management. He will join the FCA in mid-May.
The FCA has also appointed Simon Walls as an interim wholesale director. Walls has been head of wholesale markets since 2016. The FCA is currently recruiting two permanent wholesale directors to join the FCA’s Supervision, Policy and Competition senior leadership team.
CME Group has appointed heads of EMEA and Asia-Pacific to help propel its international business, which accounts for around 30% of revenue. CME has named Michel Everaert as managing director and head of EMEA, a new position based in London. Everaert joined CME Group in 2011 and most recently served as the company's managing director and co-head of client development and sales (CD&S) for EMEA. Serge Marston, who served as co-head of CD&S for EMEA with Everaert, has been appointed the sole head. Based in London, he reports to David Hartney, global head of CD&S.
In Singapore, CME has named Russell Beattie as managing director and head of Asia Pacific. Beattie most recently served as head of Asia Pacific derivatives indexes for MSCI. He also held senior APAC roles for Bank of America Securities, Barclays, Deutsche Bank and HSBC. Beattie replaces Chris Fix who retired in March. Both Everaert and Beattie report to Derek Sammann, senior managing director, global head of commodities, options, and international markets. CME also announced that William Knottenbelt, senior managing director and head of international, will be retiring at the end of the year after 11 years with the exchange.
CFTC Chairman Rostin Behnam has named Vincent McGonagle as the new director of the Division of Market Oversight, filling a role previously held by Dorothy DeWitt who stepped down in October, and Ann Wright as the director of the Office of Legislative and Intergovernmental Affairs. In addition, Gretchen Lowe, currently the chief counsel of the Division of Enforcement, will take over as acting director. McGonagle was previously acting director of the CFTC's enforcement division. Wright was previously acting director of the Office of Legislative and Intergovernmental Affairs.
TP ICAP has appointed Mark Govoni as CEO of its agency execution division. Based in New York, Govoni replaces John Ruskin who, having successfully led the integration of Liquidnet into the TP ICAP Group, will step away from the business at the end of June. Govoni joins TP ICAP from Instinet, where he served most recently as president of US brokerage after joining the firm in 2012. Prior to Instinet, Govoni was a managing director at Nomura Securities International, responsible for US execution services. Earlier in his career, he held senior program and electronic sales trading positions at Merrill Lynch.
London brokerage Marex has established an office in Minneapolis to serve as a central hub for commodity risk management with major agricultural companies and large commodity risk managers located in the region. As part of the move, Marex has tapped agricultural industry veterans Dan Hofstad and Charlie Fee to co-head the office and oversee further growth of its over-the-counter agricultural offering in the US. Hofstad and Fee, both previously managing directors at Amius after holding senior roles at Cargill Risk Management, report to Kirk Bonniwell, head of agricultural OTC sales for Marex North America.
Tito Shirley has joined FIS as head of cleared derivatives in New York. He was previously co-head of product development, global futures and OTC clearing at Goldman Sachs, where he worked for 16 years.
Trading Technologies International has appointed Nick Garrow to the new position of executive vice president, multi-asset and buy side with responsibility for leading TT’s expansion into new asset classes and a range of new services for the buy-side community. Based in London, he reports to TT CEO Keith Todd. Garrow was previously global head of IT and operations at Société Générale Prime Services in London. He has also worked at Paris-based futures exchange MATIF (now Euronext), trading software firm Patsystems, and at Newedge, which was acquired by Société Générale.
ADM has appointed John Stott as president for ADM Investor Services, its futures commission merchant arm, effective 1 July. Stott replaces Tom Kadlec, who announced his retirement after nearly 32 years with ADM. Stott is a long-term executive, having served in a variety of roles at ADM over almost 30 years, including group vice president, finance, corporate treasurer, and CFO of global technology.
Doanh Le Ngoc has joined FIA as senior director of CCP risk and bank capital. He joins from ICE Clear Europe where he was head of futures and options market risk and oversaw the Futures and Options Risk Committee. Le Ngoc is based in London and reports to Jacqueline Mesa, FIA's COO and global head of policy.
London-based market maker XTX Markets has appointed Hans Buehler as its new deputy CEO, effective July 2022. The appointment comes as XTX’s co-CEO Zar Amrolia announced plans to retire from his executive duties in early 2023. Buehler will join XTX Markets from JP Morgan, where he is global head of equities data analytics, automation and optimization, as well as global head of equities and securities services quantitative research. Prior to JP Morgan, Buehler was global head of equity derivatives quantitative research at Deutsche Bank. Amrolia has co-headed XTX alongside Alex Gerko since the firm started in late 2015. He previously co-headed Deutsche Bank’s FICC unit and was the global head of FX.
Sucden Financial, the London-based futures broker, has hired Michael Bell as a coffee broker to help expand its soft commodities services. Bell, a former LIFFE coffee and cocoa grader, previously worked at Société Genéralé in London as a director and broker in its soft commodities team, as well as ABN Amro, specializing in coffee and cocoa, and Merrill, covering various commodity markets.
Cadwalader, Wickersham & Taft has strengthened its financial services group with the addition of partner Peter Malyshev in Washington, D.C. Malyshev joins from Reed Smith, where he was also a partner. Malyshev focuses his practice on regulatory, compliance and transactional matters relating to commodities, derivatives, and securities products regulated by the CFTC and the SEC. He is also a key member of Cadwalader’s team that advises clients on matters related to crypto, digital assets and ESG considerations.
Options Clearing Corporation (OCC), the world's largest equity derivatives clearing organization, has announced that Craig Donohue has been re-elected as executive chairman of its board of directors. In addition, OCC elected two Class III member directors and two Class I public directors to its board of directors. The Class III Member Directors are Stuart Bourne, managing director, global head of prime services at Bank of America and Kurt Eckert, partner and head of market structure at Wolverine Trading. The directors elected as Class I public directors are Susan Lester, a former financial executive, and Mark Dehnert, advisor, who will assume the position of chair of the Risk Committee.
In other news, Scot Warren, chief operating officer at the OCC, has announced his retirement at the end of the year after seven years with the organization.
Varun Paul, head of the Bank of England’s fintech hub, has announced he is leaving the central bank to join Fireblocks, a digital asset custody, transfer and settlement platform. Paul has been at the Bank for 16 years in a variety of roles including head of projects and fintech, financial stability, and senior economist, financial stability.
Mark Green has started a new position as senior director, technology at the Financial Industry Regulatory Authority, the self-regulatory organization for the US securities industry. Green previously worked at CME Group for 15 years, lastly as director of software engineering.
WeMatch, a web-based matching and negotiation platform provider, has announced the expansion of its London office with five appointments. Nora Assad-Russo has joined the company from Morgan Stanley as head of product on equity derivatives. Brendon Johns, previously at Macquarie, has been appointed product manager of securities finance. Myriam Laroqua and Michael Dryden have joined as sales traders for WeMatch's equity derivatives division, from Commerzbank and Citi respectively. Supporting the securities financing division, Ryadh Bakiri has moved to WeMatch as a sales trader from CACEIS.
Fintech company Saphyre has hired Ray Shivers as its new chief operating officer. Shivers was formerly COO of global investment operations at BlackRock, where he worked for 15 years. Most recently he was executive vice president and COO of Lincoln Investment.
Eventus Systems, a provider of trade surveillance and market risk services, has appointed Nick Wallis as managing director for the EMEA region and Scott Leader as managing director for the Asia Pacific region. Both report to Scott Schroeder, global head of sales. Based in London, Wallis was previously EMEA head of surveillance sales and account management at Nasdaq, where he worked for more than 11 years. Leader, based in Sydney, previously held senior-level roles at the Australian Securities Exchange, NYSE Euronext, Bloomberg, SunGard (now FIS), Misys, and Pegasystems.