DTCC’s Bodson to Serve as Omgeo’s Chairman
Post-trade solutions provider Omgeo has a new chairman in Michael Bodson, president and CEO of the DTCC, which earlier this month completed its acquisition of Omgeo. Bodson, who joins Omgeo’s board of managers, will take on the role from Andrew Gray, managing director of Core Business Management at the DTCC; Gray will stay on as a member of the board.In addition, Joan Binstock, chief financial and operations officer at Lord Abbett & Co. is joining Omgeo’s member of the Board.
In the wake of the DTCC’s buyout of the half of Omgeo owned by Thomson Reuters, Tim Collier, chief financial officer of the Financial and Risk division at Thomson Reuters has ended his term on Omgeo’s board to reflect this change in the company’s ownership structure, officials say.
“We share a common mission to protect our clients and the financial markets by providing market-leading solutions that create efficiencies, increase transparency, and reduce risk in post-trade operations,” Bodson said in a statement. “Our task now is to capitalize on the synergies between each organization to deliver a single, global strategy for post-trade processing and settlement.”
Clearstream’s CIO/CTO Exits
Yves Baguet, who held the dual posts of chief information officer for Clearstream and chief technology officer for Deutsche Börse Group, left the company on Oct. 15, to pursue other challenges, officials say. He had been CTO since February 2013 and served as a member of the executive board of Clearstream International, which is a central securities depository (CSD) based in Frankfurt and part of Deutsche Börse Group.
Richard Green will succeed Baguet as CIO of Clearstream and as interim CTO for Deutsche Börse. Green has been serving as head of cash infrastructure and added value applications at Clearstream. He has led the IT teams for collateral management and investment funds.
“Yves Baguet decided to leave the company upon reaching another milestone in his career – the first phase of the design of the future IT landscape of Deutsche Börse Group,” says Hauke Stars, Deutsche Börse Group CIO and member of the executive board of Deutsche Börse AG, in a statement. In 2007 and 2012, Baguet was elected Luxembourg CIO of the year, officials say.
Baguet joined Clearstream in 1994 where he held various management positions in the IT area. In 2000, he became CIO of Clearstream and led IT development, operations, infrastructure and sales across all of Clearstream’s locations, officials say. During his term, he oversaw the development of post-trade technology for investment funds, including Clearstream’s collateral management solution.
He also managed major IT projects across Deutsche Börse Group such as the technical integration of Deutsche Börse Clearing (Clearstream Banking AG) with Clearstream, formerly Cedel, and the integration of Clearstream into Deutsche Börse Group.
Green joined Clearstream in March 1999 from NatWest Investments where he was a member of the executive committee and served as head of management services.
MarketAxess Adds to Board of Directors
MarketAxess Holdings Inc., provider of a fixed income electronic trading platform, market data and post-trade services, has appointed Goldman Sachs veteran Jane Chwick to its board of directors, officials say.
Chwick spent more than 30 years at Goldman Sachs, most recently as a partner and co-chief operating officer of technology, and remains an advisory director of the firm, say officials. Chwick joined Goldman Sachs in 1983 as a programmer for Funding Technologies.
During her time at Goldman Sachs, Chwick held many positions within the firm’s technology groups including global head of technology for fixed income currencies and commodities from 2004 to 2010 and global head of technology for the securities division from 2010 to 2012, officials say.
SunGard XSP Expands Team of Sales Execs
SunGard’s XSP has expanded its team of sales executives with the appointment of Paul Phillips as senior sales executive for SunGard’s XSP, EMEA, in London, and Benjamin Lindsay as director, corporate actions, in Sydney, officials say.
Phillips will focus on expanding SunGard’s corporate actions offering in EMEA. He previously held senior roles at SmartStream, DST, Salomon Smith Barney and ABN AMRO.
Lindsay will help support the expansion of SunGard’s XSP presence in the Asia Pacific region, officials say. Before SunGard, Lindsay worked at Broadridge, where he was sales director for its securities processing division.
In addition, Brendan P. Farrell, Jr., executive vice president of SunGard’s XSP division, has been named as an honoree of the Business & Finance/Ireland INC Global 100, for the second consecutive year, officials say.
New COO for Southport RE
New York-based private equity firm Southport Lane has named Brandon Young as chief operating officer for its reinsurance holding company Southport Re and senior vice president of Southport Lane, officials say.
Prior to taking on the dual posts, Young served as vice president of global corporate development at ACE, where he was responsible for identifying, analyzing and executing potential acquisitions, joint ventures and business alliances, officials say. Prior to ACE, Young was a senior equity research analyst at Bear Stearns & Co. covering the U.S. non-life insurance sector. He began his 20-year career at Marsh Inc. serving large domestic and multinational clients in its alternative risk finance group before transferring to its related specialty broker/dealer, where he focused on M&A advisory and risk-linked securities activities.
In this new role, Young will oversee acquisitions, developing general business strategy and supporting large transactions. He reports to Glenn Weber, CEO of Southport Re.
Also an asset manager, Southport Lane’s private equity fund targets investments in insurance, reinsurance, energy, and consumer businesses and seeks long-term investments with a buy-and-hold strategy.
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