CFTC Appoints Wetjen as Acting Chairman
Mark P Wetjen,
acting chairman,
CFTC
CFTC commissioners have unanimously voted Mark P. Wetjen, a CFTC commissioner whose major focus has been on swaps trading reform, to serve as acting chairman after incumbent Chairman Gary Gensler’s expected departure early next year, say CFTC officials.Wetjen became a commissioner on October 25, 2011, officials say. Before his CFTC service, he worked in the U.S. Senate as a senior leadership staffer and focused on financial services matters. Before his time in the U.S. Senate, Wetjen was a lawyer in private practice.
In his initial remarks, Wetjen says that he will work “collaboratively to oversee the ongoing implementation of the Dodd-Frank Act and the continuation of the CFTC’s critical mission.” Wetjen has “worked tirelessly to bring swaps market reform to life,” says Gensler in a statement.
The CFTC has also appointed Sayee Srinivasan as the acting chief economist, officials say. Srinivasan joined the CFTC last year in the office of the chief economist. His remit has been on policy and rule development for the market structure of futures and swaps markets.
Before the CFTC, Srinivasan worked with the Chicago Mercantile Exchange, the Bombay Stock Exchange, the National Stock Exchange of India, and OptiMark Technologies, officials say. He has specialized on market and product design, trading rules, and business development across asset classes, including cash and derivatives markets. His research includes regulatory policy development on issues related to pre-trade, trade, and post trade technology, systems, processes and risk management.
For his new post, Srinivasan will be responsible for leading the CFTC’s efforts drafting policy and rule-making, officials say. He will advise the chairman, commission and senior staff on industry practices and CFTC policy implications. He will assist the CFTC in developing capacity to analyze swaps data; help publish the Weekly Swaps Reports; and guide research on market structure for futures and swap markets.
SS&C Technologies Hires Ex-Lehman Brothers CTO
Financial software and services provider SS&C Technologies has hired the former chief technology officer (CTO) for Lehman Brothers Bob Schwartz to be its new CTO, officials say. Schwartz will report to Norm Boulanger, the vendor’s president and chief operating officer.
Schwartz has also served as CTO for SS&C’s fund administration business, SS&C GlobeOp, officials say. Before SS&C GlobeOp, Schwartz served as the CTO at Lehman Brothers and worked for Bankers Trust in its derivatives technology environment.
Numerix Taps EMEA Sales VP from Wolters Kluwer
Software vendor Numerix’s new managing director of EMEA is Tim Carley, the former vice president of sales for EMEA at Wolters Kluwer, according to Numerix officials. At Wolters Kluwer, Carley ran the sales team for the region.
Carley will oversee all direct sales efforts of Numerix’s London, Paris, Dubai, Frankfurt, Milan and Stockholm sales and development offices. He will also oversee financial engineering, quantitative research and development initiatives, officials say. Carley will report to Joseph Saporito, executive vice president of global sales for Numerix, which provides cross-analytics support for derivatives valuations and risk management.
Carley has also worked in virtualization and grid solution sales for banking as the director for continental Europe for DataSynapse, officials say.
NanoSpeed Names Head of Business Development
High-frequency trading specialist NanoSpeed Technologies has named industry veteran Michael Villain to be the global head of business development, officials say. NanoSpeed provides ultra-fast, field-programmable array (FPGA) integrated solutions for trading.
Before NanoSpeed, Villain worked as a sales director for GATElab and vice president, business development — EMEA for Chi-X Global Technology, officials say. While at Chi-X, he helped provide infrastructure and ultra-low latency connectivity solutions to hedge funds and buy- and sell-side firms engaged in systematic, algorithmic, prop and arbitrage trading.
Villain has also held several senior executive positions at exchanges and financial technology providers such as MATIF, Reuters and NYFIX, developing sales for electronic and algorithmic trading.
Charles River Launches Managed Services Center in Dublin
Charles River, a front- and middle-office investment management software vendor, has launched a managed services office in Dublin, Ireland to meet growing global demand for SaaS-based operations, say company officials. The department of jobs, enterprise and innovation of the Industrial Development Agency (IDA) of Ireland worked with Charles River to secure the expansion.
Charles River Managed Services offers hosting, application management, integrated data, FIX connectivity support, and solution upgrades to help clients streamline processes and lower technology costs, officials say. Charles River has four SSAE 16-compliant hosting centers in the U.S. and U.K.
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