In other People Moves, Gresham bolsters its North American staff, Old Mutual has a new executive for emerging markets, and the CFTC embraces the need for a market intelligence officer.
DTCC Hires from Options Clearing Corp.
Michael McClain, MD-general manager, equity clearing, DTCC
The DTCC, a post-trade market infrastructure services provider, reports that Michael McClain has joined as a managing director and general manager of equity clearing.
McClain will be responsible for heading the “day-to-day equity clearing business operations and strategic initiatives,” and will report to Murray Pozmanter, managing director and head of clearing agency services, DTCC says in a statement.
McClain joins from the Options Clearing Corp. (OCC), the “world’s largest equity derivatives clearing organization,” DTCC notes, where he was chief operating officer (COO) and part of the office of the executive chairman, overseeing OCC’s technology and operations. Before that, McClain held senior roles in business development, new products and strategy and oversaw the buildout of OCC’s business continuity site in Texas. “Earlier in his career, he held positions at Accenture and IBM, specializing in large-scale initiatives for the financial industry,” per DTCC.
Gresham Taps Advent, ICAP-Traiana for Two North American Posts
In a bid to bolster its North American efforts, reconciliation vendor Gresham has hired Jan Dinger from investment systems provider Advent Software to lead the North American sales operation, and John Burchenal from ICAP to build a global alliances program, officials say.
The vendor says the new appointments follow the “recent strategic new wins in North America.”
Gresham officials say that Dinger has 15 years of financial technology sales experience, including a decade at Advent where he worked in EMEA and in the US, where he has been for the last three years, leading the strategic accounts team in New York.
Burchenal has been at ICAP for the past five years where he ran the strategic partner program for the Traiana business, which included developing relationships with market infrastructure providers, officials say. Prior to that, he spent six years at Omgeo, the Thomson Financial-DTCC joint venture, as managing director of strategic growth. He will bring “a wealth of alliances, sales and financial markets experience to a newly created global role,” say Gresham officials.
North America “presents significant opportunity for Gresham, with strong demand for newer more agile technologies as financial services firms come under increasing regulatory pressure to get their data under control,” says Bill Blythe, global business development for Gresham, in a prepared statement. “We are also seeing strong interest from other industry solution providers to partner with us, and forming the right strategic alliances and relationships will be important for the company in the future,” Blythe adds.
Old Mutual Appoints CEO for Emerging Markets
Peter Moyo, CEO, emerging markets, Old Mutual
Old Mutual reports the appointment of Peter Moyo as CEO of the Old Mutual emerging markets (OMEM), effective at the beginning of June 2017.
Moyo is a financial services veteran, “having been CEO of Alexander Forbes from 2005 to 2008,” officials say.
Before that, he served as a deputy managing director of Old Mutual South Africa from 2000 to 2005, having joined as divisional manager in 1997, according to Old Mutual. The company statement also notes also that he is currently the non-executive chairman of Vodacom Group, an African communications company.
He is also a member of the board of Liberty Holdings, an insurer and investment advisor focused on African countries, and CEO of NMT Capital, previously known as Amabubesi Investments (Pty) Ltd, an investment holding company formed in 2002.
CFTC Names First Chief Market Intelligence Officer
Andrew B. Busch, chief MIO, CFTC
The CFTC reports that Andrew B. Busch has been named the CFTC’s first chief market intelligence officer (MIO), effective April 10, 2017.
Busch, a financial services veteran, joins from Bering Productions Inc. (BPI), the economic research company he founded, where he was CEO.
In the new CFTC position, which reports directly to the CFTC chairman, the MIO will “engage with the CFTC’s new Market Intelligence Unit as well as market participants, industry analysts, economists, policy makers, and other regulators,” according to a CFTC statement.
“The Market Intelligence Unit is designed to understand, analyze and communicate current and emerging derivatives market dynamics, developments and trends – such as the impact of new technologies and trading methodologies,” according to the commission’s statement, which notes also that the MIO was created, in March 2017, by separating the Surveillance Branch from the Division of Market Oversight and reassigning their important work to the Division of Enforcement.
“As part of the Division of Enforcement, the Surveillance Branch will still continue its important work monitoring markets for suspected fraud and manipulation. The Branch will have the same authority and responsibility it currently has to identify and recommend for prosecution violations of law and regulation such as spoofing, manipulation and fraud,” the CFTC adds.
Before BPI, Busch was the global currency and public policy strategist at the Bank of Montreal from 2009 to 2013, the CFTC notes.
“He also served as the Bank of Montreal’s Global Foreign Exchange Strategist and was an outside advisor to the White House, US Treasury and Congress on the financial markets from 2005-2009. Mr. Busch began his career in financial services working in the foreign exchange trading department for the Northern Trust Company,” according to the CFTC.
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