The Senate approved the nomination of Sarah Bloom Raskin as deputy Treasury secretary. Raskin has been serving as a member of the Federal Reserve Board of Governors since 2010. Before that she was the chief financial regulator in the state of Maryland. She filled the vacancy left when Neal Wolin left in September.
On May 21, the Senate confirmed Stanley Fischer as a member of the Federal Reserve Board. Fischer was governor of Israel’s central bank from 2005 to 2013 and has also served at the World Bank and International Monetary Fund. He was also nominated by President Obama to serve as the Fed’s vice chairman, but the Senate must vote on that separately. The Senate has not yet set a date to vote on the other two Fed nominees, Lael Brainard and current governor Jerome Powell. They both were approved in April along with Fischer by the Senate Banking Committee. Brainard previously served as undersecretary of the Treasury for International Affairs under the Obama administration. Powell’s nomination is for a renewed term.
The European Commission made a key change in the financial policy team within the internal market and services department. Olivier Guersent, previously the head of the private office of Michel Barnier, European commissioner for the internal market, was named deputy director-general for financial services policy. Before joining Barnier’s cabinet, Guersent was a director in the Commission’s competition department. He replaced Nadia Calvino, who was promoted to the Commission’s budget department as director-general.
HSBC Holdings appointed former SEC Commissioner Kathleen Casey as an independent director for a three year term. Casey served on the SEC from 2006 to 2011 and was actively involved in the agency’s dealings with international regulators. She also was a key member of the International Organization of Securities Commissions, serving as chairman of IOSCO’s technical committee and its OTC derivatives task force. Since leaving the SEC, she has worked as a senior advisor at Patomak Global Advisors, a consulting firm based in Washington that is headed by Paul Atkins, another former SEC Commissioner.
On May 2 Craig Lewis stepped down from his position as the Securities and Exchange Commission’s chief economist and director of the division of economic and risk analysis. Lewis, who headed the division since May 2011, is returning to teaching at Vanderbilt University’s Owen Graduate School of Management.
Hong Kong Exchanges and Clearing appointed Gerald Greiner advisory chairman for group clearing and regulatory affairs. Calvin Tai was appointed as head of global clearing (Asia), and Trevor Spanner was appointed as head of global clearing (Europe). Cecelia Zhong was named head of China derivatives business development in the exchange group’s Asia commodities department. Zhong was most recently head of greater China for NYSE Euronext.
Nasdaq OMX appointed Hans-Ole Jochumsen as president of global trading and market services, which includes transactions, clearing and settlement services in the U.S. and Europe. Jochumsen previously oversaw the group’s Nordic and Baltic businesses. Adena Friedman returned to the company as president of global corporate, information and technology solutions. She spent the previous three years as the chief financial officer of Carlyle Group, a private equity firm. Jochumsen and Friedman report to Bob Greifeld, chief executive officer.
Thomas Wittman was promoted executive vice president, global head of equities for Nasdaq OMX. He reports directly to Hans-Ole Jochumsen. Wittman oversees the global cash equities and equity derivatives businesses.
Nasdaq OMX NLX appointed Anthony Belchambers, Rod Banus and Andrew Chart as non-executive directors. Belchambers is the former chief executive of FIA Europe. Banus is executive director at Nomura International and Chart is a senior director, origination and structuring for prime clearing services at Newedge.
Intercontinental Exchange named Thomas Farley president of NYSE Group, succeeding Duncan Niederauer, current chief executive officer of NYSE and co-president of ICE, who accelerated his planned departure in light of the rapid integration of ICE and NYSE. Neideraurer will continue as president of ICE through August, contributing to the integration of the two companies. Farley has been chief operating officer of NYSE and was formerly president of ICE Futures U.S.
Intercontinental Exchange announced management appointments and the board of directors for its Singapore-based exchange and clearinghouse. Lucas Schmeddes was named president and chief operating officer of ICE Futures Singapore and ICE Clear Singapore. Schmeddes was previously chief operating officer of ICE Endex in the Netherlands. In addition, Jennifer Ilkiw was named vice president at ICE for the Asia Pacific region.
The following directors were named to serve on the boards of ICE Futures Singapore and ICE Clear Singapore: Jeffrey Sprecher, chairman and CEO, ICE; David Goone, chief strategy officer, ICE; Vijay Iyengar, founder and managing director of Agrocorp International; Tan Soo Nan, CEO, Singapore Pools, and Ang Swee Tian, former president of the Singapore Exchange.
Alison King was named senior vice president of derivatives at SGX. Prior to this she was senior vice president, clearing business development at Eurex. She reports to Michael Syn, head of derivatives.
ICAP appointed Wendy Phillis as group chief risk officer to replace Colin Smith who is retiring. She is based in London and reports to Ken Pigaga, group chief operating officer. She previously worked at State Street as chief operating officer, EMEA. ICAP also announced that John Nixon will retire at the end of March 2015 after 16 years with the company. Nixon is currently group executive director, Americas, and the chairman of ICAP’s swap execution facility and its i-Swap electronic trading platform.
Tim Doar, long-time employee of CME Group and currently the chief risk officer at CME Clearing, retired on March 31. Doar worked at the clearinghouse for 23 years and was responsible for risk management since 2004.
The Depository Trust & Clearing Corp elected four new directors to its board of directors. Phil Davies, managing director and global head of operations at Morgan Stanley; David Kimm, executive vice president, chief risk officer and treasurer at TD Ameritrade; Nick Ogurtsov, chief operating officer and chief risk officer at KCG Holdings; and Paul Walker, global co-head of the technology division at Goldman Sachs.
Newedge hired Mark Gonzalez as head of OTC clearing sales Americas. He is based in New York and reports to Adam Cohen, head of institutional clearing sales Americas. Gonzalez previously was global chief operating officer and head of sales at BNY Mellon Clearing.
Bank of America Merrill Lynch hired Tom Klocker as global head of electronic trading strategy for fixed income commodities and currencies. Klocker was previously head of algorithmic trading for rates and credit at UBS.
Judith Hardt stepped down as director general for the Federation of European Securities Exchanges. A successor has not been named.
ISDA elected the following four new directors to its board at its annual general meeting in Munich: Jonathan Hall, advisory director, Goldman Sachs; Kieran Higgins, head of EMEA fixed income trading, Royal Bank of Scotland; Ciaran O’Flynn, global co-head of fixed income electronic trading, Morgan Stanley; and Koji Sakurai, head of business planning team, derivatives products division, Mizuho Bank.
Bob Pickel plans to step down from his role as CEO of ISDA later this year. Pickel has had a 17-year career with ISDA, serving as CEO, executive-vice-chairman and initially as general counsel.
Spot Trading, a proprietary trading firm and a member of FIA PTG, named three new partners: Robin McInerney, chief financial officer; Daniel Penley, director of algorithmic trading and execution; and Aki Nakagawa, portfolio manager.
The Alternative Investment Management Association, the London-based hedge fund industry association, has appointed three new directors to its governing body. The three directors are: Simon Lorne, vice chairman and chief legal officer of Millennium Management; Tim O’Brien, partner, general counsel and CCO of Pine River Capital Management; and Stuart Fiertz, president and co-founder of Cheyne Capital Management (UK).
Randolf Roth left Eurex to become CEO of Zimory, a Berlin-based cloud management software firm. Roth had worked at Deutsche Börse since 1999, most recently as executive director heading up the market structure division of Eurex.
Tomas Zikas left his position as managing director and head of SwapEx, State Street’s swap execution facility. Officials said his position will not be replaced.
Marc Breillout joined Sucden Financial’s board of directors as a non-executive director. He spent 30 years with Société Générale and Fimat Group and more recently was head of capital markets at Natixis.
The Options Industry Council named Blair Hull as the 2014 recipient of the Joseph W. Sullivan Options Industry Achievement Award. Hull’s career in the trading world has spanned nearly 40 years. He is currently managing partner of Ketchum Trading, a proprietary trading firm he founded in Chicago in 2010. He previously served on the board of directors for the Chicago Board Options Exchange and the Options Clearing Corporation.
Gary DeWaal joined Katten Muchin Rosenman’s financial services practice in New York as special counsel. DeWaal, a financial services industry veteran with more than 30 years of experience working on legal and regulatory matters, previously served as a senior managing director and group general counsel for Newedge.
Hope Jarkowski joined Delta Strategy Group as a partner to lead the firm’s securities consulting business. She was most recently senior counsel for securities for the Senate Banking Committee’s ranking member, Senator Mike Crapo (R-Idaho). Prior to that, she was a senior lawyer in the SEC’s office of general counsel and senior counsel to SEC Commissioner Troy Paredes.
UBS named Michael Ettinger as head of foreign exchange, rates and credit client execution services for the Americas. He is responsible for leading operations of client execution on swap execution facilities via the UBS technology platform Neo. Ettinger was previously head of interest rate trading at Credit Suisse. UBS also appointed Rana Chammaa as head of rates and credit eTrading sales for the Americas. Prior to this role, she spent 10 years in UBS’s direct execution services business. Both Ettinger and Chammaa report to Paul Hamill, global head of fixed income agency execution and e-trading.
Long-time CFTC enforcement lawyer Steve Obie was named partner at the law firm of Jones Day. Over his 15 year career at the CFTC he held several senior positions, including the acting head of enforcement from 2008 to 2010 and chief trial attorney.
Bart Chilton, former CFTC commissioner, was named senior policy adviser in the Washington, D.C. office of the law firm of DLA Piper. Chilton will advise clients on Dodd-Frank regulations and assist with the firm’s cross-border team on issues surrounding equivalency and comparable regulations being finalized in other jurisdictions.
Troy Paredes, a former commissioner at the Securities and Exchange Commission, joined PwC as a senior strategy and policy advisor in the firm’s financial services regulatory practice.
The Institute for Financial Markets, a non-profit educational foundation affiliated with FIA, announced that Michael Dawley, managing director and co-head of futures and derivatives clearing services at Goldman, Sachs & Co., was elected for a one year term as IFM chairman. He replaced Peter Borish, chief strategist at Quad Capital, who remains an IFM trustee. IFM also elected Michael Yarian, managing director and head of agency derivatives services at Barclays, as a member of its board of trustees.
FIA was saddened to report the death of long-time industry executive Robert Ray. Over the course of his career he became familiar with all aspects of the business; he was on the trading floor, he worked extensively with customers and he played a leading role at first the CBOT and then the CME. Most recently he spearheaded the establishment of CME’s office in London. FIA expresses its condolences to his family, friends and colleagues.
