The Financial Stability Board has named Bank of England Governor Andrew Bailey as its next chair, for a three-year term to begin on 1 July 2025. The Plenary will formalise the appointment when it meets in person in June. Bailey currently serves as the chair of the FSB’s Standing Committee on Supervisory and Regulatory Cooperation. The SRC addresses key financial stability risks through the development of supervisory and regulatory policies and coordinates issues that arise among supervisors and regulators to ensure effective consideration of cross-sector and international implications. He has served as the governor of the Bank of England for five years. Bailey also previously served as chief executive officer of the Financial Conduct Authority.
UK Chancellor of the Exchequer Rachel Reeves has reappointed Nikhil Rathi as chief executive of the Financial Conduct Authority for another five-year term, until September 2030.
Cboe Global Markets has announced the expansion of its derivatives market intelligence team in Asia Pacific with the appointment of Wei Liao as director, derivatives market intelligence. Liao will be based in Hong Kong, where she will concentrate on advancing Cboe’s derivatives market presence and content offerings for clients across the Asia-Pacific region. Prior to Cboe, she worked as a portfolio manager at CQS Asset Management. She brings with her 15 years of experience in macroeconomic research, trading, and portfolio management.
Gunvor Group’s head of trading Stephane Degenne is leaving the company as part of a wider transition in the energy trader’s top management. His departure is part of a “generational shift in leadership,” a spokesperson for Gunvor said. Degenne progressed through the company at Guvnor, establishing himself as a key oil market dealmaker and eventually becoming one of the top executives under co-founder and CEO Torbjörn Törnqvist. The company also named Gary Pedersen, who recently joined from Millennium Management as president and CEO of Americas, to its executive committee, as well as energy transition director Fredrik Törnqvist, the son of the co-founder.
Randolf Roth has retired from Eurex after 26 years. During his time at the exchange, he headed its strategy group from 2007 to 2010, the market structure team from 2010 to 2014, and the derivatives market design department from 2016 onwards. He also served as a member of the executive board at Eurex Frankfurt AG for nine years. He will continue to work part-time as a strategic adviser to the Eurex board on selected strategic projects and will continue to engage with clients on these subjects
Mark Turner has joined Liquidnet as managing director, co-head of sales and trading, Americas. Turner previously worked at Instinet for 32 years, most recently as managing director and co-head of sales and trading, America. He is based in New York and joins the firm as it continues its global expansion. Last December, Liquidnet made three new hires into its European Execution & Quantitative Services team as it looked to enhance its execution offering. EQS advises Liquidnet’s buy-side members on topics such as trade analytics, algorithmic strategies, and quantitative products and services. Oliver Ekers, one of the three hires, also joined from Instinet as an execution trader, covering sales trading across both high-touch and algo trading.
Veteran futures industry lawyer Gary DeWaal has joined SEDA Experts, a firm that provides expert witnesses and litigation support for law firms. Prior to his retirement from Katten Muchin Rosenman in 2024, he served as senior counsel. Previously, he chaired the firm’s Financial Markets and Regulatory practice group. During his time at Katten, he provided legal advice on matters involving derivatives, securities, cryptocurrencies, and evolving technologies.
Kaizen, a provider of regulatory compliance solutions for global financial institutions, has announced the appointments of Kathy Perrotte and Mark Husler to its board as non-executive directors. Perrotte co-founded ActiveViam and has served as CEO of the firm, which provides advanced data analytics softwarefor the world’s largest financial institutions. Husler has over 25 years of management experience within the financial services sector, including at Citigroup and LSEG. He co-founded and led UnaVista (a division of LSEG) as CEO for 15 years where he scaled the business from a start-up to a global regulatory reporting solution.
US Commodity Futures Trading Commission Acting Chairman Caroline Pham has announced Rahul Varma will serve as the acting director of the Division of Market Oversight. Varma joined the CFTC in 2013 as an associate director for market surveillance in the DMO, with responsibility for energy, metals, agricultural and softs markets. In 2017, he helped start the Market Intelligence Branch in DMO and served as its acting deputy director. In 2024, he took on the role of deputy director for the combined Market Intelligence and Product Review branches. Prior to joining CFTC, Varma held risk management and consulting roles in the private sector and worked at the Federal Energy Regulatory Commission.
John Rega has started with FIA EPTA as the new senior director, strategic communications and member engagement. He recently worked as senior advisor for KREAB and Brunswick, and before that he was the financial services editor for Politico. Prior to that he worked at MLex and at Bloomberg, first in Washington DC and then in Brussels. Rega will develop FIA EPTA’s strategic narrative and messaging and working on creating stronger member engagement.
Andrew Chart has started a new position in prime services and financing at Standard Chartered, reporting to global head of prime and financing products for FSS, Andy Ross. In the new role, Chart will be product lead for exchange-traded derivatives, with a mandate to expand coverage of the UK bank's prime offering. He was most recently director of operations at GFO-X and previously had stints at BNP Paribas and UBS, where he was global head of exchange-traded derivative commodities execution. Earlier, he spent 15 years at Societe Generale, leaving in late 2014 as managing director of origination and structure within prime clearing services.
Efthimia Kefalea has taken on a new role within Eurex Clearing as director, head of derivatives clearing development. She leads initiatives aimed at leveraging new technologies, including the European Central Bank's exploratory work on wholesale central bank money and the Bank for International Settlement's Project Agorá. She previously worked in the group's collateral and repo clearing division. Eurex also announced that Rafael Zanatta has started a new chapter as head of exchange traded derivatives liquidity management. Zanatta was promoted from crypto, equity and index sales. This is his second tour of duty with the exchange. He previously worked at Eurex from 2012 to 2017.
Peter Blogg has taken over as head of global commodities at European Energy Exchange. Based in London, Blogg now oversees the development and expansion of EEX’s commodities trading business, focusing on energy derivatives and related products. His responsibilities include managing partnerships with regional stakeholders and expanding EEX’s footprint in the competitive energy derivatives market. Before joining EEX, Blogg served at the CME Group as director of commercials, client development, and sales in London. Prior to that, he held the position of senior director for agriculture and alternative investments at CME Group.
Richard Buchanan has joined Cumulus9 as head of sales – North America. Cumulus9 provides exchange-traded derivatives participants with real-time risk intelligence. Before joining Cumulus9, Buchanan served as director of sales for multi-asset trade surveillance, market risk, algo monitoring, and anti-money laundering solutions at Eventus. He also worked at ION Trading, where he contributed to risk management and trading analytics solutions. Before Eventus, Buchanan worked as director of sales for multi-asset risk and trading platforms at TS Imagine.
ElectronX, a startup that plans to list intraday futures on electricity, has named Alastair Hawker has joined as chief commercial officer. Previously, he served as global head of futures electronic execution at Citi for over four years. ElectronX is seeking regulatory approval in the US to list futures on its newly established exchange and recently raised $10 million in equity funding from the venture investing arms of Equinor and Shell as well as two energy-focused private equity funds.
Sebastian Tiger has joined Deutsche Bank as managing director, head of corporate and investment bank compliance, Americas. He is based in New York and previously worked at Morgan Stanley for seven years, most recently as managing director, Americas and head of fixed income compliance.
Michael Quell has joined Jump Trading Group as chief operating officer, business development. He was previously at Citadel Securities for eight years.
Tammy Botsford has joined Topstep Brokerage as president and chief compliance officer. Prior to this appointment, she worked at J.P Morgan for 12 years, most recently as executive director and assistant general counsel.
Gianluca Biagini and Ron Lefferts have joined LSEG as co-heads of the global data and analytics division. Biagini joins in August 2025 and Lefferts will transition from his role leading global sales organisation. They will also spearhead the continued growth of LSEG’s flagship Workspace product.
Eric Changnon has started a new position as senior compliance officer at Optiver. He was previously compliance advisory officer at Citadel Securities.
