Steven Maijoor, the former chair of the European Securities and Markets Authority, joined the governing board of De Nederlandsche Bank on 1 April. He took over from Frank Elderson, who was appointed member of the executive board of the European Central Bank in December 2020. Maijoor served two five-year terms as ESMA chair, the maximum possible under EU rules. Prior to joining the regulator, Maijoor was a director at the Netherlands’ Authority for the Financial Markets between 2004 and 2011.
ESMA published a shortlist for Maijoor’s replacement in November. The three candidates are Maria-Luis Albuquerque, Portugal’s former finance minister; Carmine Di Noia, commissioner of Italy’s banking regulator Consob; and Verena Ross, executive director at ESMA. His successor will be confirmed by the European Parliament and formally appointed by the Council of the European Union. Until then, ESMA’s vice chair, Anneli Tuominen, has been appointed as interim chair.
ESMA has selected Natasha Cazenave as its candidate for executive director, a role she will assume following confirmation by the European Parliament. Once confirmed, Cazenave will serve a five-year term, renewable once. She will succeed current executive director Verena Ross, whose term concludes on 29 May, having run its maximum 10 years. Cazenave is currently deputy secretary-general and head of the policy and international affairs directorate at the Autorité des marchés financiers, a role she has also held for the past 10 years.
Heath Tarbert, former chairman of the US Commodity Futures Trading Commission, has joined Citadel Securities in Chicago as its chief legal officer. He led the US derivatives regulator from 2019 until January, when he became a commissioner after the Biden Administration entered the White House. Prior to his role at the CFTC, Tarbert led the bank regulatory practice at law firm Allen & Overy. At Citadel, Tarbert succeeds Steve Luparello, a former director of the Securities and Exchange Commission’s division of trading and markets, who will stay on as an adviser until he retires at the end of the year.
Mark Branson, the head of Switzerland’s financial markets regulator FINMA, has been appointed president of Germany’s finance watchdog BaFin, replacing Felix Hufeld, who resigned earlier this year. Branson joined FINMA in 2010 to oversee Switzerland’s banking sector and was named deputy chief executive in 2013. He had previously worked at UBS and Credit Suisse, in Tokyo, London and Zurich. At UBS he led its Swiss bank and its wealth management division. FINMA said Jan Bloechliger, head of its banks division, will take over the operational leadership of the agency from 1 May while it searches for a successor for Branson.
BME Clearing, the clearinghouse subsidiary of Spain's Bolsas y Mercados Españoles, has made changes to its management lineup following the retirement of general manager Ignacio Solloa. The CCP has appointed BME veterans José Manuel Ortiz-Repiso as CEO of BME Clearing, and Xavier Aguilá as its general manager. Ortiz-Repiso joined BME in 2000 and between 2003 and 2014 worked as supervisor of the Spanish stock market and head of market quality before being appointed to lead the clearing unit in 2016. Aguilá joined BME in 1992 as head of risk at MEFF, the group's derivatives exchange. Since 2014 he has been chief operating officer of BME Clearing. Aguilá's appointment will become effective once it receives authorisation from the Spanish stock market supervisor, BME said in a statement.
ESMA has appointed Rodrigo Buenaventura, chair of Spain's Comisión Nacional del Mercado de Valores (CNMV), as the new chair of its Market Integrity Standing Committee. Buenaventura replaces Elisabeth Roegele, formerly deputy president of German regulator BaFin, as chair and will complete the remainder of the outgoing chair’s term until 1 February 2022.
Jay Clayton, the former chairman of the US Securities and Exchange Commission, joined the board of Apollo Global Management, a $455 billion hedge fund based in New York, as an independent director on 1 March. On 22 March he was named non-executive chairman, replacing Leon Black, Apollo's founder, who stepped down.
Clayton also has taken an advisory role at One River Digital Asset Management, a cryptocurrency investment fund set up last year by One River Asset Management, a macro hedge fund based in Connecticut. Clayton will join the firm’s Academic and Regulatory Advisory Council along with economist Jon Orszag, who served in the Clinton administration as an economic policy adviser, and Kevin Hassett, who served in the Trump administration as chairman of the White House's Council of Economic Advisers.
Coinbase, one of the leading cryptocurrency trading platforms in the US, has appointed Brett Redfearn, most recently the director of the Securities and Exchange Commission’s division of trading and markets, to run its capital markets group. Redfearn left the SEC in December after overseeing the regulation of exchanges, broker dealers, clearing agencies and transfer agents. Prior to that, he spent 13 years at JP Morgan, serving as global head of market structure, algorithmic trading, and liquidity products.
The US Treasury Department’s anti-money-laundering unit, the Financial Crimes Enforcement Network (FinCEN), has appointed Michael Mosier as its new acting director. Mosier will start the role on 11 April replacing Kenneth Blanco, who will be taking a position at Citigroup as financial crimes chief compliance officer. Mosier most recently served as counselor to the deputy secretary of the Treasury, a role he assumed last month after serving as FinCEN’s deputy director and first digital innovation officer. He previously worked at Chainalysis, a cryptocurrency analytics, compliance and investigations firm, as chief technical counsel.
Cboe Global Markets has promoted Catherine Clay to executive vice president, from senior vice president, Information Solutions, and has created a new Data and Access Solutions division within the company, which Clay will lead. She has also been appointed to Cboe’s executive leadership team. The new Data and Access Solutions division integrates the company’s suite of data solutions, analytics and indices with its market data services offerings. Clay, who has been with Cboe since 2015, began her career as a clerk in Interactive Brokers’ market-making unit, Timber Hill, and progressed to director of floor trading and operations. In 2006, she left Timber Hill to co-found Thales, a market-making firm on the NYSE options floor and on the OneChicago single stock futures exchange. She joined LiveVol in 2010 as chief strategy officer. At the time of Cboe's acquisition of LiveVol in 2015, Clay held the position of CEO.
ABN AMRO Clearing Bank has tapped Boudewijn Duinstra to be the new head of its US subsidiary ABN AMRO Clearing Chicago, pending regulatory approval. Duinstra will replace Andrej Bolkovic, who has joined Akuna Capital, the Chicago-based proprietary trading firm, as chief executive officer. Mike Nowak, chief financial officer of ABN AMRO Clearing Chicago, has been appointed to head the company in the interim. Duinstra is currently the head of risk management at ICE Clear Europe. Before joining the London-based clearinghouse in 2017, he spent 13 years at ABN AMRO Clearing in various roles including head of strategy and chief risk officer.
OCC, the world’s largest equity derivatives clearing organization, has appointed two new members to its board of directors: J.J. Kinahan, chief market strategist and managing director of trading and education at TD Ameritrade, and Peter Maragos, co-founder and chief executive officer of Dash Financial Technologies.
UBS has appointed Declan Graham as regional head of quantitative analytics and development in the Americas, responsible for overseeing a team of quantitative analysts focused on innovation in execution algorithms, smart order routing and liquidity solutions. He previously was global head of business development for the bank's electronic execution platforms.
Emmanuel Givanakis has been appointed chief executive officer of Abu Dhabi Global Market's Financial Services Regulatory Authority, succeeding Richard Teng, who stepped down at the end of March. Givanakis was one of ADGM’s first employees, joining in October 2014 as the head of policy and legal. In September 2020, he was appointed deputy CEO of FSRA. Prior to joining ADGM, Givanakis held senior roles at the Australian Securities and Investments Commission and the Dubai Financial Services Authority.
Andrew Ridenour has joined Cumberland, the crypto asset trading subsidiary of DRW, as counsel and strategic advisor. He previously worked at the Commodity Futures Trading Commission as a senior counsel to the chairman in 2019 and 2020 and as special counsel in the market oversight division in 2016 and 2017. Before that he worked for seven years in the CFTC's enforcement division. In between his two stints at the CFTC he worked at Coinbase, the cryptocurrency exchange, as product counsel for institutional products.
Broadway Technology has named Michael Chin as CEO. Chin served as managing director, global head of trading at Refinitiv and before that was president and CEO of trading technology company Mantara. He previously was president of TradingScreen and spent the early part of his career at JP Morgan, holding various regional and global trading and management positions across the US, EMEA and APAC. Chin takes on the role from Broadway co-founder Tyler Moeller, who is now chief innovation officer.
Miami International Holdings, the parent holding company of several equity options exchanges and the Minneapolis Grain Exchange, has named Andy Nybo as chief communications officer. Most recently, Nybo served as managing director at Burton-Taylor International Consulting where he led the organization, including managing its research and consulting activities for international exchange clients. Prior to this he was a partner and co-head of research and consulting at TABB Group.
Illuminate Financial, a venture capital company that invests in early-stage capital markets fintechs, has promoted Alexander Ross and Rezso Szabo to partners. Ross joined Illuminate six years ago from Bain and moved to New York from London in 2020 to further expand the company's presence in North America. Szabo, who also joined Illuminate six years ago, previously worked at McKinsey, the Hungarian Central bank and fintech company Ebury.