CME Group Hires Executive Director for Push into Korea
Sung Hee Hong,
executive director, Korea,
CME Group
Derivatives exchange giant CME Group has appointed Sung Hee Hong from the Korean Exchange (KRX) as executive director, head of Korea to lead the expansion of CME’s presence in Korea, confirm officials. In this newly created position, Hong will report to Julien Le Noble, CME group’s managing director.At KRX, Hong’s major accomplishment was globalizing the company as well as “identifying business development opportunities and designing business models tailored to each unique emerging country in Asia,” according to officials at CME Group. A venue for securities and derivatives trading, KRX also offers clearing and settlement services for financial transactions. Hong also worked for the Korea Stock Exchange (KSE).
CME Group reports that it has a “long standing relationship with KRX,” when both companies signed a trade agreement in 2008 allowing for the listing of KOSPI 200 futures via CME Globex electronic trading platform.
A hub for futures and options trading, the CME Group is combination of the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), and the New York Mercantile Exchange (NYMEX), including the Commodity Exchange (COMEX). In addition to Globex, the CME Group offers clearing through CME Clearing, including over-the-counter (OTC) derivatives via CME ClearPort.
SimCorp’s COO to Become Orc Group’s CEO
Torben Munch,
CEO,
Orc Group
Torben Munch, the current chief operating officer (COO) for SimCorp, will be moving to Orc Group to serve as the company’s CEO, starting in December. Munch will succeed Thomas Bill who will be leaving Orc in January 2013.
Munch began working at SimCorp in 1996 and has held the position of COO since 2001. Previously, he served as managing director. SimCorp is an investment management software company that offers its services to securities firms, banks and mutual funds.
“I’m looking forward to join the Orc team and to further improve and strengthen the company’s position in the coming years as well as to set Orc on an accelerated growth trajectory by leveraging Orc’s strong position in global financial markets,” says Munch in a prepared statement.
SimCorp has begun the search for Munch’s replacement. SimCorp and Orc officials decline to comment further at this time. Orc is a technology provider for the financial services industry, serving firms, investment banks and hedge funds. Orc had headquarters in the Americas and the Asian-Pacific region.
Kneip Appoints Chief Strategist and Research Officer
Mario Mantrisi,
chief strategist & research officer,
Kneip
Fund data distributor Kneip has promoted Mario Mantrisi to the position of chief strategist and research officer from his post as head of product management and innovation, effective July 2, officials say. Mantrisi will be reporting to the company’s CEO Bob Kneip.
Mantrisi will be responsible for developing the Kneip’s strategy roadmap, analyzing market information, drafting design concepts for new Kneip products and training employees, according to a company statement. Prior to joining Kneip, Mantrisi was the senior manager of product development at Clearstream Banking.
Kneip provides fund data distribution services for 370 fund companies worldwide, helping them maintain regulatory compliance.
—Alexa Mehraban
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