In other People Moves news, Xceptor fills a key post for North America, CFTC taps the Senate Ag committee, and FundRock debuts in Dublin.
New OCC Exec to Take Control in May
John P. Davidson, president-COO, OCC
The Options Clearing Corp. (OCC), the equity derivatives clearing organization, reports that John P. Davidson, a veteran in the financial services industry, has joined as president and chief operating officer (COO), effective May 8.
Davidson, who will report to OCC Chairman and CEO Craig Donohue, and replaces COO Michael McClain, who left the OCC at the end of March for personal reasons, according to a statement.
Davidson joins from Citigroup, where he worked from 2008 to 2017, most recently as chief compliance officer, heading a 2,400-person, 87-country compliance organization, responsible for proactively identifying, evaluating, mitigating and reporting on compliance, regulatory and reputation risks across Citi, according to an OCC statement.
Previously, he was the Citi risk division’s chief administrative officer, responsible for infrastructure risk management, and then as head of enterprise risk management, “responsible for managing Citi’s operational risk across businesses and geographies,” according to the statement. Before Citi, Davidson served for 12 years as the managing director and operations officer for the Global Operations and Services Division at Morgan Stanley, officials say.
Additionally, Adi Agrawal, currently OCC’s chief audit executive, has been named chief business transformation officer, responsible for “executing on our SEC
Adi Agrawal, chief business transformation officer, OCC
Regulation SCI mandate,” OCC officials say. (Regulation SCI, adopted in November 2014, “applies primarily to the … entities that directly support any one of six key securities market functions — trading, clearance and settlement, order routing, market data, market regulation, and market surveillance,” the commission says.)
Agrawal is an assurance and risk veteran, who joined OCC in 2015, “with more than 25 years of experience leading information technology, process re-engineering, risk and strategy,” OCC officials say.
Xceptor Appoints Sales Director for North America
Marco Sablone, sales director, North America, Xceptor
Xceptor, a provider of process automation and data management services for the financial services sector, reports the appointment of Marco Sablone as director of sales and business development for North America. He reports directly to CEO Andrew Kouloumbrides.
Before joining, Sablone, a financial services veteran, was director of sales and marketing at Joss Technology, a fintech provider focused on “entity data management,” Xceptor says, noting that he also served as director of sales for North America at AIM Software, a data manager provider that acquired Joss.
Founded in 2003, Xceptor’s offerings have been deployed in more than 20 countries, with clients including ANZ, BNY Mellon, BP International, Canada Life International, Capita, Citi, Deutsche Bank, Glencore, HSBC, J.P. Morgan, Lloyds, Northern Trust, Standard Bank, Standard Chartered Bank and State Street, according to the firm’s statement.
CFTC’s Legislative Affairs Director Comes from Senate Ag Committee
Charles “Charlie” Thornton III has been named to be the next director of the Office of Legislative Affairs for the CFTC, according to an announcement from J. Christopher Giancarlo, acting chairman of the CFTC.
Thornton, who comes to the CFTC from the U.S. Senate Agriculture, Nutrition, and Forestry Committee where he served as senior professional staff and counsel, assumed his duties on April 17, officials say.
“Charlie brings significant experience from Capitol Hill to his relationships with market participants and self-regulatory organizations that make him well suited to serve as an advisor as well as an intergovernmental liaison,” Giancarlo says in a statement.
During his time at the Senate Agriculture Committee, Thornton was responsible for executing the objectives of the chairman and the committee’s jurisdiction over the derivatives markets as well as the committee’s role in overseeing the CFTC and its policies, CFTC officials say. Before his service in the Senate, he was counsel for Delta Strategy Group with a focus on the derivatives markets and CFTC rulemakings, guidance, no-action letters, and derivatives-related legislation and hearings.
FundRock Opens Dublin Office
FundRock Management Company S.A., a European Union-based mutual fund and alternative investment fund manager (AIFM), reports the opening of its office in Dublin, for which it plans to hire up to 20 people by the end of 2019.
The new office, FundRock says, is part of its “growing presence” in three of the major fund centers: Luxembourg, Ireland and the UK “as part of wider European expansion plans.”
FundRock also characterizes its new Irish presence as a “value add solution” for its clients, one that responds to the “market uncertainty created in the investment management sector post-Brexit.”
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