President Obama on Nov. 12 nominated Timothy Massad, a senior Treasury Department official, to serve as chairman of the Commodity Futures Trading Commission for a term ending in April 2017. Massad, a lawyer by training, joined Treasury in May 2009 as chief counsel for the Office of Financial Stability. In June 2011 he was confirmed as Assistant Secretary for Financial Stability and oversaw the implementation and wind-down of the Troubled Assets Relief Program, the crisis-era initiative that sought to stabilize the banking and housing sector. Massad’s nomination must be considered by the Senate Agriculture Committee before being referred to the Senate for confirmation.
President Obama nominated Sharon Bowen as a member of the Commodity Futures Trading Commission. If confirmed by the Senate, she will fill the seat vacated by Bart Chilton, a Democrat who announced his plans to leave the CFTC. Bowen is a partner at the law firm of Latham and Watkins. In addition, she serves as acting chair of the board of directors of the Securities Investor Protection Corporation.
The EU Council appointed Danièle Nouy as the head of the new banking supervisory authority, called the Single Supervisory Mechanism. Nouy was the secretary general of France’s Autorité de Contrôle Prudentiel and earlier in her career served as secretarygeneral of the Basel Committee on Banking Supervision.
Singapore Exchange named Richard Teng as chief regulatory officer and Agnes Siew-Koh as chief risk officer. Teng is currently deputy chief regulatory officer and Siew-Koh has been head of clearing risk. The changes come as Yeo Lian Sim, chief regulatory and risk officer, announced plans to retire at the end of this year.
SGX also announced that KC Lam joined the exchange as a director in international sales, responsible for foreign exchange products and services. Lam was previously CME Group’s head of foreign exchange products for Asia, based in Singapore.
Commissioners at the Commodity Futures Trading Commission unanimously elected CommissionerMark Wetjen to serve as acting chairman, succeeding Gary Gensler. In addition, the CFTC appointed Wetjen as sponsor of its global markets advisory committee. Wetjen said he intends to engage the members of committee “to foster dialogue and international cooperation on global issues.” The members of the committee consist of industry executives and other private sector individuals with expertise in cross-border issues.
The CFTC named Sayee Srinivasan as acting chief economist. He joined the CFTC in 2012 in the office of the chief economist and prior to that he worked with CME, the Bombay Stock Exchange, and National Stock exchange of India.
Clark Hutchison joined Deutsche Bank as head of U.S. listed derivatives. Based in New York, he will report to Ajay Singh, managing director and global head of listed derivatives. Hutchison previously worked at Morgan Stanley as the global head of listed derivatives.
Suneel Bakhshi was appointed as group chief executive officer of LCH.Clearnet subject to regulatory approval. He is expected to join the organization in early 2014, at which time Jacques Aigrain, interim executive chairman, will resume his position as non-executive chairman of LCH.Clearnet Group as well as non-executive director of London Stock Exchange Group. Bakhshi worked at Citigroup for more than 30 years. Most recently he was president and CEO of Citigroup Global Markets Japan.
Laurent Paulhac was appointed chief executive officer of ICAP SEF. He was previously senior managing director for interest rate and OTC products and services at CME Group. Paulhac reports toMichael Spencer, ICAP’s CEO.
Charlie Longden left his position as chief executive officer of LCH.Clearnet’s CDSClear unit.Gavin Wells, CEO of LCH. Clearnet’s ForexClear service, has assumed responsibility for the credit default swap business.
Tel Aviv Stock Exchange appointed Yossi Beinart as chief executive officer, succeeding Ester Levanon who left her post at the end of 2013. Beinart was previously president and CEO of the North American Derivatives Exchange.
The OCC named Richard Wallace as senior vice president and chief compliance officer. Wallace was previously a partner at the law firm of Foley & Lardner in Washington, D.C. Prior to that he served as chief counsel in FINRA’s market regulation Futures Industry | January 2014 63 department and as a branch chief in the Securities and Exchange Commission’s division of enforcement.
Eric Noll left his position as executive vice president, transaction services at Nasdaq OMX to become president and chief executive officer of ConvergEX Group. Nasdaq said it plans to fill Noll’s position near the end of the first quarter of 2014.
David Escoffier was appointed chief executive officer of Newedge, succeeding Nicolas Breteauwho resigned. Escoffier was previously deputy head of global market activities at Société Générale Corporate & Investment Banking. Françoise Guillaume, deputy CEO and chief operating officer of Newedge, also resigned. She was replaced by Olivier Hartemann, previously chief operating officer for the Asia-Pacific region at Société Générale’s global banking and investor solutions division.
Newedge also appointed François Combes and Franck Borgel as global coheads of the commodities and currencies business and will join the firm’s executive committee. They replaceJohn Fay, former global head of this business, who left the company to pursue other opportunities outside the firm. Combes will be based in London and will be responsible for leading Newedge’s global commodities business. He joins the firm from Société Générale Corporate & Investment Banking, where he was deputy head of commodities and head of metals and agriculture. Borgel will be based in New York and will oversee Newedge’s global currencies business. He will continue to serve as chief operating officer for commodities and currencies, a role that he has held for the last three years.
TMX Montréal Exchange appointed Brian Gelfand as chief regulatory officer. He replacedJacques Tanguay who retired earlier this year. Gelfand, who previously was the exchange’s vice president for institutional relations and market operations, will lead the exchange’s regulatory division.
The Chicago Board Options Exchange appointed John Deters as chief strategy officer and head of corporate initiatives. Deters will replace Richard DuFour, who retired at year-end. Deters joined CBOE from Barclays, where he worked as an investment banker.
Jürg Spillmann retired from the executive boards of Eurex. Since 1998, he has served as deputy chief executive officer of Eurex Zürich and Eurex Frankfurt. He has been deputy CEO of Eurex Clearing since April 2013. A pioneer of electronic trading and clearing systems, he played a key role in the migration of derivatives trading at the Eurex exchanges to electronic global marketplaces from local floor trading. Effective in January, Spillmann became a member of the board of directors (supervisory board) of Eurex Zürich and he will remain on the supervisory boards of the European Energy Exchange and European Commodity Clearing.
Optiver, the trading firm based in the Netherlands, promoted Paul Hilgers to global chief executive. Hilgers, who has worked at Optiver since 2007, previously was the head of its Asia-Pacific operations. He took over the CEO role from Johann Kaemingk, one of the founders of the company.
BNP Paribas hired Catherine Flax as managing director, head of commodity derivatives, Americas. Flax will report locally to Edward Speal, head of global equities and commodity derivatives, Americas and globally to Amine Bel Hadj Soulami, global head of commodity derivatives. She previously worked at J.P. Morgan for eight years in several senior commodities-related positions.
Jill Sommers, former commissioner at the Commodity Futures Trading Commission, has joined the Institute for Financial markets as a consultant focusing on new efforts to expand the educational footprint of the IFM.
FIA Global, the structure created in June to combine FIA, FIA Asia and the Futures and Options Association, named Jackie Mesa as executive director, responsible for leading and coordinating its global policy efforts.
FIA Principal Traders Group named Rob Creamer, president and chief executive officer of Geneva Trading, as chairman. He succeeded Don Wilson, chief executive of DRW Trading, who has served as chairman since the group’s inception in 2010.
Allston Holdings established new commodities and energy trading teams in Chicago and opened its first office in New York. John Stotts was named director of commodity trading and Chris Neylonjoined as director of energy trading. Allston’s New York office was launched by trader and executiveKirk Howell and software developer Jiujiu Sun. Jim Lemoine, formerly founder and managing partner of Lemoine Trading in New York, is serving as an advisor to Allston on the establishment, strategy and growth of the New York operation.
The Securities Industry and Financial Markets Association named Kenneth Bentsen president and CEO of the association. He succeeded former Senator Judd Gregg, who stepped down from the position. Bentsen has been serving as executive vice president of public policy and advocacy since 2009. Previously he served as a member of the House of Representatives from Texas, where he sat on the House Financial Services Committee.
The Alternative Investment Management Association, a global hedge fund industry group based in London, named Jack Inglis as its new chief executive officer. Inglis previously held senior positions in prime brokerage at Barclays and Morgan Stanley. Inglis succeeds Andrew Baker, who announced his plans in June to step down.
INTL FCStone named Peter Rizzo as deputy CEO, Asia. He will be based in Singapore. Rizzo joined the company in 2009 and has been serving as managing director of FCStone Australia.
Luciana Miranda joined Bank of America Merrill Lynch in New York to run futures and FX prime brokerage marketing. She reports to Peter Johnson, global head of futures and options, over-thecounter clearing and FX prime brokerage. Miranda was previously at Deutsche Bank in New York.
SuperDerivatives, a provider of financial information, derivatives technology and trade execution, appointed David Taban to manage its commodities and energy business. His responsibilities will include driving the development of SDeX, the company’s electronic trading platform for energy and commodity derivatives. Taban previously was head of oil options at J.P. Morgan.
Women in Listed Derivatives announced the results of its first election of the board of directors. Joining the WILD North America Board in 2014 are Dorothy Friedman of Fidessa, Bethany Riesenberg of OCC, Mary Savoie of OCC and Leslie Sutphen of Chopper Trading.
The Depository Trust & Clearing Corporation appointed Ann Shuman, one of CME Group’s top lawyers, as managing director and deputy general counsel. She will have primary responsibility for overseeing legal functions related to clearing and settlement as well as DTCC’s corporate secretary function. Before joining DTCC, Shuman worked for more than a decade at CME, most recently as deputy general counsel.
Rice Dairy, a dairy market futures and options trading firm, hired Tom Sandy for the newly created position as chief operating officer. With over 25 years of experience in the futures industry working primarily for the Chicago Mercantile Exchange, Sandy was recruited to facilitate the continued growth within Rice Dairy and guide the company through the evolution of new compliance and regulations in the futures industry.
