People news – March/April 2023

Appointments, promotions and other people news in the derivatives industry

5 April 2023


Tim McCourt
Tim McCourt

CME has appointed Tim McCourt to serve in an expanded role as senior managing director, global head of financial and OTC products, following the retirement of Sean Tully, senior managing director, interest rates and OTC products on 2 June 2023. Previously, McCourt was the global head of equity and foreign exchange products. In his new role, he will oversee CME’s interest rates, equity index, FX and cryptocurrency futures and options markets, as well as the BrokerTec cash treasuries platform and EBS spot FX platform. McCourt joined CME in 2013 as executive director of equity index products.

Jamal Oulhadj has joined Marex in Chicago as head of clearing in North America. Oulhadj was previously president of ICE Futures Abu Dhabi, a position he took on in February 2020. Before that, he worked at futures and clearing firm R.J. O’Brien for 14 years, most recently as CEO of R.J. O'Brien (MENA) Capital, based in Dubai. He also previously served as risk officer for Refco and was a senior research analyst at the Chicago Mercantile Exchange.

Separately, Tim Andriesen is joining Marex in Chicago on 10 April as head of agriculture for North America. Andriesen was previously managing director, agricultural products and alternative investments at CME Group. Prior to joining CME in 2009, he worked at National Australia Bank for seven years as managing director, commodities and managing director, agribusiness.

In other news, James Stedman has joined Marex in futures clearing sales (Americas), based in New York. Stedman was previously head of futures sales, prime derivative services US at Barclays Investment Bank. He joined Barclays in 2018 from Morgan Stanley where he worked as a wealth management specialist.

Tobias Paulun
Tobias Paulun

European Energy Exchange Group has promoted its chief strategy officer Tobias Paulun to CEO of its European Commodity Clearing business. Peter Reitz, who previously held the position of CEO of both EEX and ECC, will focus entirely on his tasks as EEX CEO, the exchange group said. Paulun was the chief strategy officer for EEX from January 2015 to March 2023.

Investment management firm Pimco has hired Michael Haigh, the former global head of commodities research at Société Générale, as executive vice president and commodity and real asset strategist in the firm’s London office. Haigh reports to Greg Sharenow, head of the commodity portfolio management group. Haigh joined Société Générale in 2011 from Standard Chartered where he was the global head of commodities research. Prior to that, he was a commodities researcher at hedge fund K2 and before that an associate chief economist at the US Commodity Futures Trading Commission.

UBS Group has named Michael Hendrie as head of global markets for Australia and New Zealand. He was previously UBS’s ANZ co-head of fixed income and its head of global markets FX, rates and credit. The appointment will bring equities and fixed income businesses in the region into a combined global markets group, aligning with the bank’s global organisation structure, the bank said. Hendrie has worked at UBS since 1994 in various trading, syndication and distribution roles including in London. In his new role, he will report to APAC global markets co-heads Thomas de Garidel and Tim Wannenmacher.

Separately, UBS has appointed Matthew Campbell as head of derivatives and solutions for Australia and New Zealand. Campbell currently runs the AUD/NZD rates trading team globally and will continue to do so in addition to his new role. Campbell worked at Macquarie Group before joining UBS in 2009.

Elsewhere, Lindsay Chock has been promoted to managing director, global head of ETD electronic and FX algo execution at UBS. She previously held an executive director position. Prior to joining UBS, Chock spent 14 years at Goldman Sachs as vice president, global head of futures electronic trading solutions, and head of Americas electronics futures. 

Vandana Bhatter
Vandana Bhatter

Citi has appointed Vandana Bhatter as its new head of markets, ASEAN (Association of Southeast Asian Nations), reporting to Julia Raiskin, APAC head of markets, and Amol Gupte, head of South Asia and ASEAN. Bhatter will be responsible for leading and driving a fully integrated business strategy, monetising Citi’s local market network, and strengthening connectivity both within Asian markets and with the bank’s other institutional client group businesses. She has worked at Citi since 2001.

Michael Loughney has been appointed chief compliance officer, Citadel APAC. Previously, Loughney served as chief compliance officer of Citadel Global Equities. Prior to joining the firm in 2019, he worked as global head of equities compliance at Millennium Management. He has also worked at RBS as general counsel for markets UK and EMEA and as a senior trial attorney at the US Commodity Futures Trading Commission.

The Depository Trust and Clearing Corporation has announced executive leadership appointments of Susan Cosgrove, Timothy Keady, and Renee LaRoche-Morris. All three report to Francis (Frank) La Salla, DTCC’s president and chief executive officer. Cosgrove has been named president of DTCC’s clearing and securities services and will lead all equity and fixed income clearance and settlement, asset servicing, wealth management, and institutional trade processing. She previously led settlement and asset services and equity fixed income clearing services for DTCC. Keady has been appointed chief client officer and will be responsible for leading DTCC’s global sales, relationship management, partners and marketing and communication functions, driving client strategy across all DTCC products and services. LaRoche-Morris joins DTCC as chief financial officer. She previously worked at State Street as chief of staff to the chief operating officer and chief administrative officer of shared services and headed the integration management office for State Street’s acquisition of Brown Brothers Harriman.

Mohd Saleem Kader Bakas
Mohd Saleem Kader Bakas

Bursa Malaysia Berhad has promoted Mohd Saleem Kader Bakas from acting director to full director of the derivatives market, which includes futures based on the country’s main stock index as well as futures on palm oil. Saleem joined Bursa Malaysia in 2019 as vice president of product and market development, derivatives market and head of international development. Prior to that, he was a director, head of futures at HSBC Bank (Singapore).

London Stock Exchange Group has appointed Dmitri Sedov as the new group head of its global data platform. Sedov will lead LSEG’s initiative to transform how capital market participants discover, source, and analyse data in partnership with Microsoft. He joins from Nasdaq, where he spent two years in New York as chief product officer for the exchange group’s data and technology division, Investment Intelligence. Prior to Nasdaq, he was chief product and marketing officer for Preqin Solutions and before that led product innovation at S&P Global for the S&P Dow Jones Indices, S&P Global Market Intelligence, S&P Global Ratings and Platts businesses.

The UK Financial Conduct Authority has appointed Therese Chambers and Steve Smart as joint executive directors of enforcement and market oversight. Chambers has worked at the FCA for over 20 years, serving as the director of retail and regulatory investigations, and as director of consumer investments in the supervision, policy, and competition division. Smart joins from the UK National Crime Agency where he is the director of intelligence. Chambers started her new role on 1 April while Smart will join the FCA on 21 June. They succeed Mark Steward who is leaving the FCA on 13 April.  

Anita Herrera is retiring from Nodal Exchange where she is general counsel, chief regulatory officer, and corporate secretary. She joined the exchange in 2008 after working at several law firms, the Federal Energy Regulatory Commission, and the Commodity Futures Trading Commission.

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