OCC, the US equity derivatives clearinghouse, has appointed Meaghan Dugan, the head of options at the New York Stock Exchange, to its board of directors. Dugan has over two decades of experience in listed options trading and market making. At the NYSE, she leads oversight of NYSE Amex Options and NYSE Arca Options markets and the team’s overall business strategy. Prior to joining the NYSE, Dugan spent 11 years at Bank of America, most recently as the head of product for US electronic options and global future algorithms.
LCH Group has appointed Corentine Poilvet-Clédière as chief executive officer of LCH SA, the group's Paris-based clearinghouse. She will take over from Christophe Hémon in October, when Hémon steps down after nearly two decades as the head of the clearinghouse. Poilvet-Clédière currently serves as head of LCH SA's clearing service for repos as well as its collateral management function. She joined LCH SA in 2012 as a manager for its credit derivatives clearing service before moving into a regulatory strategy role for the group as a whole. In her new position, she will report to Daniel Maguire, head of post-trade at LSEG and chief executive of LCH Group.
Tom Wipf, a veteran executive with decades of experience on Wall Street, has joined UBS to lead the bank's efforts to integrate Credit Suisse's operations in the Americas. Wipf worked at Morgan Stanley for more than three decades, most recently as vice chairman of the bank's institutional securities division and a member of the firm's securities operating committee, risk management committee, and asset-liability committee. In that role, he was responsible for Morgan Stanley's efforts to replace Libor with alternative reference rates. He also served as chair of the Alternative Reference Rates Committee, a quasi-public entity set up by the Federal Reserve to guide the transition away from Libor. In an extension of that role, he chaired a committee set up by the Commodity Futures Trading Commission to advise the agency on the Libor transition in the derivatives markets.
CME Group has realigned its on-exchange and over-the-counter foreign exchange businesses into a single unit led by Paul Houston, who has overseen CME Group’s FX futures business since 2016. Houston has been appointed global head of FX products and will oversee the company's FX derivatives markets as well as its EBS cash markets. CME also announced that Jeff Ward, the global head of EBS, is leaving the company. Ward has not left the FX markets, however. Starting in January, he will be the chief executive officer of LiquidityMatch and its subsidiary FXSpotStream, an independent trading venue for spot FX.
The futures division of Macquarie Group’s Commodities and Global Markets business has made several recent hires to strengthen its futures sales and trading capabilities in the US. These hires are part of an expansion launched by Alasdair McBarnet, president of Macquarie Futures USA, who joined the firm in December from Wells Fargo.
“The expansion of our futures business is a testament to the capabilities and offerings that Macquarie provides to clients," said McBarnet. "Having operated in global futures markets for more than 35 years, our team provides 24-hour execution and clearing coverage across all major markets. The new additions to the team allow us to further meet the needs of our clients in providing bespoke solutions, specialist expertise and access to an extensive range of global futures markets."
Morgan Downey has joined as a managing director within the futures division of Macquarie. Downey is based in New York and leads the electronic futures efforts in the Americas. Downey previously ran futures execution in the Americas for Societe Generale and spent time in various sales roles at Bank of America, Morgan Stanley, TS Imagine and JP Morgan.
John Mancuso has joined Macquarie as a senior vice president within the futures division of CGM. Mancuso is based in New York and is part of the futures sales team in the Americas, with a focus on financial institutions. His most recent role was running futures execution in the Americas for Societe Generale, and prior to that he held various roles in electronic trading at State Street and Deutsche Bank.
Kurt Jacobs has joined as a senior vice president within the futures division at Macquarie, as part of the sales team based in New York. Most recently, Jacobs spent over 11 years at Wells Fargo starting as a founding member of its FCM. In addition to identifying and driving revenue primarily from real money accounts, he led the FCM’s communication to customers for key industry initiatives. Prior to Wells Fargo, he led several fintech technology start-ups.
Christian Argiroff has joined as a senior vice president within the futures division at Macquarie, as part of the global execution desk. Christian is based in New York and will be building out the high-touch cross-asset futures execution platform in the Americas. Christian has an extensive track record in the futures business, with seven years’ experience in listed sales and trading roles at Credit Suisse followed by six years in cross-asset futures execution at Morgan Stanley.
Billy Roosen has joined as a vice president in the futures and options sales team based in New York. Roosen brings over 20 years of futures knowledge and experience to the team, having spent time in various sales and business development roles at Trayport, BNP Paribas, JP Morgan and Trading Technologies.
Hong Kong Exchanges and Clearing has made two appointments in the information technology area. Richard Leung, previously the chief technology officer for the group, has been appointed chief information officer. He will continue to have oversight of the group’s technology strategy and functions, and he will also focus on a number of key strategic group-wide projects. He will continue to report to Nicolas Aguzin, the chief executive officer.
HKEX also appointed John Hsu as group chief technology officer, taking over that role from Leung. Hsu will lead the group’s IT infrastructure, operations, development and support functions in Hong Kong as well as its Innovation and Data Lab and its Mainland Technology Centre. Hsu joins the company from HSBC, where he served as chief information officer Asia Pacific since May 2019. Prior roles include senior positions at Huawei Technologies, SF Express and Deloitte.
"Technology is at the heart of HKEX’s vision and strategy and today’s appointments reflect our commitment to continue investing in this key area, providing best-in-class services to our clients and stakeholders around the world," said Aguzin. "Richard and John’s leadership will be invaluable as we progress our work to develop a platform business that leverages modern, agile and digitalised infrastructure."
Citadel Energy Marketing, the physical commodities trading arm of Citadel, has appointed Patrick Reichert as head of structuring and portfolio optimization based in Houston, Texas. Citadel Energy Marketing helps energy producers and consumers across North America manage their commodity and funding risks in markets including natural gas, power, environmental products and weather. Prior to joining Citadel, Reichert spent seven years at Morgan Stanley, most recently as executive director. Previous workplaces include oil and gas trader Mercuria Energy America and JP Morgan.
Citadel Securities, the brokerage and market making arm of Citadel, has appointed former head of BlackRock’s China business Tony Tang to head its China operations beginning in September. Tang will be responsible for spearheading Citadel’s expansion into China. Tang is a former Chinese securities regulatory official who later became head of BlackRock’s China business in 2019. He also served as one of the top aides to BlackRock CEO Larry Fink. Previously, he served as president of GF Holdings Hong Kong, general manager of China Asset Management, and deputy director of the China Securities Regulatory Commission's overseas department.
London Stock Exchange Group has appointed Irfan Hussain as chief information officer based in New York starting January 2024. He joins the executive committee and will report to LSEG CEO David Schwimmer. Hussain will be responsible for LSEG’s technology team’s efforts to drive innovation in the global financial markets. Previously, he served as a partner and chief operating and strategy officer for engineering at Goldman Sachs.
The Australian government has appointed three new commissioners to the Australian Securities & Investments Commission, the country's primary markets regulator. The three are Katherine O’Rourke, Alan Kirkland and Simone Constant.
O’Rourke is currently first assistant secretary at Australia's Treasury Department and will begin her new role in September. She returns to ASIC after six years where she previously held positions in data, digital, economic reforms and more.
Kirkland is the CEO of CHOICE, a consumer group, and will begin his new role in November. He is a consumer advocate having served as a member of ASIC’s Consultative Panel and the panel for the Ramsay Review.
Constant is currently the chief risk officer in the institutional bank and markets division at the Commonwealth Bank of Australia and her term will also begin in November. She brings years of experience in financial services and risk management and served as former deputy secretary of the New South Wales Treasury.
The US Commodity Futures Trading Commission has announced that Christina McGlosson has been promoted to acting director of the agency's whistle-blower office. The office was created with the 2010 passage of the Dodd-Frank Act and rewards individuals who report possible violations of the Commodity Exchange Act. She replaced Christopher Ehrman, who has stepped down after 10 years as head of the office. McGlosson brings experience from her time as the associate director of the CFTC’s enforcement division from 2017 until 2021. She joined the agency following 19 years with the US Securities and Exchange Commission, latterly as senior special counsel at the economic and risk analysis division.
Cboe has appointed Mandy Xu as vice president and head of derivatives market intelligence. Xu’s responsibilities include producing insights and analysis on derivatives markets and expanding client education on Cboe’s markets and products. Xu joins Cboe from Credit Suisse where she was managing director and head of equity derivatives strategy. Prior to her time at Credit Suisse, she worked as a cross-border M&A analyst at E.J. McKay, a boutique investment bank in Shanghai.
Clear Street, a prime broker founded in 2018, has tapped a veteran futures industry executive to lead its expansion into futures clearing. Clear Street has appointed Christopher Smith as CEO of its futures clearing business. Smith brings over three decades of experience in the capital markets sector, including founding ED&F Man Capital Markets and building a futures clearing firm from scratch to become the financial services subsidiary of ED&F Man Group. Before that he was chief operating officer and deputy chief executive of MF Global. The hire follows Clear Street's announcement in July that it will be expanding into the futures market through its acquisition of Chicago-based React Consulting Services, which operates a cloud-native futures clearing platform.
Trading Technologies International has appointed Gavin Miller its new director of EMEA sales – TT Fixed Income, based in London. Prior to joining TT, Miller spent five years at Algomi, a fixed income aggregation and surveillance technology business that was acquired by BGC Partners in 2020. His most recent role with Algomi was head of European sales. Before that, Miller spent two decades at Bloomberg and held various positions starting as a sales and account manager for fixed income, global head of fixed income electronic trading sales, global head of fixed income, currencies, commodities, electronic trading sales, and ending as global head of sales and account management for global markets electronic trading.
Singapore Exchange has promoted Lily Chia to head of equities and FICC sales for several markets in the Asia-Pacific region. She will be responsible for leading sales for equity, equity derivatives and FX derivatives across Singapore, the ASEAN countries, the Middle East, India and Australia. Prior to her promotion, Chia was head of business integration and portfolio management for technology. She also spent some years at Singapore International Monetary SIMEX and then DBS Vicker Securities.
BlockFills, a technology and crypto trading firm in the digital assets space, has appointed Danny Slutsky as vice president of strategy. Slutsky most recently worked at the Digital Currency Group as a strategy and operations associate. He brings investment experience on the buy and sell side and in seed series C companies across fintech, capital markets, SaaS, web3, crypto and enterprise technology. He also spent more than eight years at CME Group starting as a rotational analyst, then senior analyst of CME Ventures, and ending his time at CME as manager of ventures.
Scott Le Bouef and Brian Rogers have joined the energy finance team at the law firm of Bracewell in New York. They joined Stroock & Stroock & Lavan, where Le Bouef was a member of the commodities and derivatives group, and Rogers was co-chair of the debt finance practice. At Bracewell, Le Bouef represents clients in a variety of commodities and derivatives transactions and related regulatory matters, with a focus on energy commodities. Rogers advises firms on a variety of debt financing transactions and negotiates transactions relating to renewable and conventional energy and commodities, infrastructure and related asset classes.