The Hong Kong government reappointed Ashley Alder as chief executive officer of the Securities and Futures Commission for another three-year term effective from Oct. 1. SFC Chairman Carlson Tong issued a statement praising Alder, who has headed the SFC since 2011, for elevating Hong Kong's role in shaping global financial regulations through the International Organization of Securities Commissions. Alder was appointed chairman of IOSCO's board last May.
Chris Giancarlo, the acting chairman of the Commodity Futures Trading Commission, appointed Andrew Busch as the CFTC's first chief market intelligence officer. The creation of this new role is part of Giancarlo's plan to improve the agency's understanding of market dynamics, developments and trends. Busch has worked for more than 30 years in the financial sector. From 2009 to 2013 he was the global currency and public policy strategies at the Bank of Montreal. He also served as the Bank of Montreal’s global foreign exchange strategist and was an outside advisor on the financial markets to the White House, U.S. Treasury and Congress from 2005 to 2009.
Giancarlo also appointed James McDonald as director of the agency's enforcement division. McDonald joined the CFTC from the U.S. Attorney's Office for the Southern District of New York, where he served as an assistant U.S. attorney. Earlier in his career, he served as a law clerk to Supreme Court Justice John Roberts and as a deputy associate counsel in the White House during the administration of George W. Bush.
Giancarlo also appointed Charlie Thornton as director of the office of legislative affairs. He joined the CFTC from the Senate Agriculture, Nutrition, and Forestry Committee where he served as senior professional staff and counsel.
The European Commission reshuffled several key officials within its financial stability, financial services and capital markets directorate general. Patrick Pearson, previously head of the resolution and crisis management unit, was appointed head of the financial markets infrastructure unit within the financial markets. Pearson, who headed this unit from 2010 to 2015, replaced Maria Teresa Fabregas, who moved to the taxation and customs directorate in March. Emiliano Tornese, the deputy head of the resolution and crisis management unit, will serve as the head of that unit on an acting basis.
Singapore Exchange appointed Tan Cheng Han as chairman of its newly established independent regulatory arm, Singapore Exchange Regulation. Tan is a law professor at the National University of Singapore and the chairman of the Centre for Law & Business at the NUS Faculty of Law. SGX also appointed Tan Boon Gin, the exchange's chief regulatory officer, as the CEO and board member of SGX RegCo, which will start operations in the third quarter.
Matthew Chamberlain was appointed chief executive of the London Metal Exchange. Chamberlain had been the interim head of the exchange since January, when Garry Jones stepped down. Before that Chamberlain was chief operating officer and head of strategy for the exchange. He joined the exchange in November 2012 after playing an advisory role in Hong Kong Exchanges and Clearing's acquisition of LME.
LME also announced that James Proudlock, who joined the exchange earlier this year from J.P. Morgan, will take on the role of head of market development for both LME and LME Clear, reporting to Chamberlain and Adrian Farnham, chief executive of LME Clear.
LME also announced that James Proudlock, who joined the exchange earlier this year from J.P. Morgan, will take on the role of head of market development for both LME and LME Clear, reporting to Chamberlain and Adrian Farnham, chief executive of LME Clear.
OCC, the U.S. equity derivatives clearinghouse, appointed veteran industry executive John Davidson as president and chief operating officer. Davidson joined OCC after more than two decades working at Citi and Morgan Stanley. At Citi, he held a number of senior roles in risk management and served as chief compliance officer for three years. At Morgan Stanley, he was operations officer for the firm's global operations and services division. Earlier in his career, Davidson worked at CME as the head of its clearinghouse from 1983 to 1993. He rejoined CME from 2006 to 2008 as chief corporate development officer. Davidson replaced Michael McClain, who left OCC on March 31 to join the Depository Trust and Clearing Corp. as managing director and head of equity clearing.
OCC also announced the appointment of David Ridgway, a former senior risk management executive with BNY Mellon, as senior vice president, enterprise risk management. Ridgway reports to John Fennell, executive vice president and chief risk officer. In addition, OCC appointed Mark Morrison, formerly with State Street Corporation and several government defense and security agencies, as senior vice president and chief security officer. Morrison has 35 years of experience in the field of information and cyber security. Before joining State Street in 2013, he worked at the U.S. Defense Department, the Director of National Intelligence, and the Defense Intelligence Agency.
LCH announced that Daniel Maguire has been appointed group chief operating officer in addition to his current responsibilities as global head of rates and FX derivatives.
Eurex appointed Romanos Daniel as chief innovation officer. He previously worked at UBS in Hong Kong, where his most recent position was global head of legacy credit trading and global co-head of noncore rates trading. Eurex said Daniel will add "invaluable experience" in derivatives trading and risk management.
Rosenthal Collins Group promoted Robert Turner to executive vice president and chief operating officer. He succeeded George Recchia who is retiring from the firm after 35 years of service. Turner has a 46-year history in the futures industry, including operations and management roles in futures brokerage and clearing at Nikko Securities, Calyon Financial, Jefferies Bache and Macquarie Futures.
The company also promoted Patrick Carey to executive vice president of strategic implementation. He began his career with RCG in 2002 as a runner on the grain floor and most recently served as senior vice president of operations.
In addition, the company appointed Cary Musser head of strategic asset management, a new position within the firm. He will oversee day-to-day investment management of RCG's assets and customer segregated funds. Musser has more than 30 years of investment and security lending experience, including a stint at R.J. O'Brien & Associates as chief investment officer and treasurer.
Deutsche Bank hired David Silber as head of Americas equity derivatives, responsible for both sales and trading. He previously was head of North American execution sales at Citi where he was responsible for the equity derivatives business across the region. He will be based in New York and report to Brad Kurtzman, head of Americas equities, and John O’Brien, head of Americas equity distribution.
TrueEx hired Chris Yoshida to spearhead its sales, marketing and strategy. Yoshida previously worked at Deutsche Bank as global head of rates sales and at Morgan Stanley as head of EMEA rates sales.
The Depository Trust & Clearing Corporation appointed Michael McClain as managing director and head of equity clearing. McClain, who spent 16 years at OCC, will be responsible for leading day-to-day equity clearing business operations and strategic initiatives. He reports to Murray Pozmanter, managing director and head of clearing agency services.
DTCC also appointed Valentino Wotton as managing director, DTCC Deriv/SERV. Wotton will start in August and will be responsible for product development and strategy for Deriv/SERV, which provides post-trade services for credit derivatives. Prior to joining DTCC, Wotton served as head of post trade services and Europe operations at Barclays.
FIA News
FIA Elects New Board Members at Annual Meeting: On March 14, FIA announced the election of directors and officers at its annual meeting in Boca Raton. Thirteen directors were elected at this meeting, including two new directors, Eric Aldous of RBC Capital Markets and Jason Radzik of BNP Paribas. Following the election, the new board elected the following officers: Michael Dawley of Goldman Sachs was elected chairman, Jerome Kemp of Citigroup Global Markets was elected vice chairman, Maureen Downs of Rosenthal Collins Group was elected secretary, and Clark Hutchison of Deutsche Bank Securities was elected treasurer.
FIA Law & Compliance Division Elects Officers: The FIA Law & Compliance Division elected a new slate of officers for 2017-2018 at its annual meeting on May 4. Tammy Botsford of J.P. Morgan Securities was elected as president. Christian Artmann of Deutsche Bank, Patricia Donahue of Rosenthal Collins Group, and Kimberly Johns of Goldman, Sachs & Co. were elected as vice presidents. Matthew Lisle of ABN Amro Clearing Chicago and Matthew VosBurgh of Barclays Capital were elected as secretaries. Hina Mehta of UBS was elected treasurer.
FIA Inducts 14 Individuals into Hall of Fame: On March 15, FIA announced the induction of 14 people into the FIA Futures Hall of Fame. They join 131 other honorees in the Hall of Fame, which was established in 2005 on the occasion of FIA’s 50th anniversary. The 14 new members were honored at an awards ceremony during the 42nd annual International Futures Industry Conference in Boca Raton. “We established the FIA Futures Hall of Fame to recognize the men and women who have made exceptional contributions to the growth and development of the futures and options business,” said Walt Lukken, president and CEO of FIA. “This year’s inductees represent advocates, policymakers and visionaries who have provided the leadership and support necessary to keep growing our industry.”
