An executive shuffle is underway to better meet the needs of CME Group’s global customers.
Bryan T. Durkin, chief commercial officer, CME Group.
CME Group, the Chicago-based derivatives marketplace created from a merger of the Chicago Mercantile Exchange and the Chicago Board of Trade, has announced what it characterizes as a “new leadership structure” intended to “better meet the needs of its global customer base,” according to a CME statement.
The new structure will see the former Chief Operating Officer Bryan T. Durkin assume the newly created position of chief commercial officer and CME Clearing President Kim Taylor become president, global operations, technology and platform development.
Both Durkin and Taylor will report to Phupinder Gill, CME Group CEO, who in turn will continue to report to Terry Duffy, the group’s executive chairman and president.
Durkin will be responsible for “ensuring the company delivers the best possible experience for customers to maximize customer satisfaction and retention, while reaching new and evolving markets with core and new product and service
offerings to increase growth and profitability,” according to the statement. His areas of oversight include CME’s
international offices, client development and sales, business development, co-location and technology services, information products, index services, marketing, and research and product development.
Taylor, the new global ops, tech and risk president, “will lead all of the company’s operational functions globally,” including clearing, operations, technology and platform development, and “will be charged with bringing new trading and clearing products and services to market.”
Also included in the new senior structure, according to CME officials, are:
- Julie Holzrichter, COO, who “will continue to lead the firm’s global operations;”
- Kevin Kometer, chief information officer, who “will continue to lead the company’s global technology organization;”
- Sunil Cutinho, president, CME Clearing, who previously was CME Clearing’s deputy head;
- Derek Sammann, senior managing director, commodity and options products, who previously headed the company’s foreign exchange, metals and options businesses;
- Sean Tully, senior managing director, financial and over the counter (OTC) products, who previously headed the interest rate and OTC businesses;
- And Robert Zagotta, senior managing director, strategy and execution, who previously headed CME’s products and services teams.
Kevin Kometer, chief information officer, CME Group.
Also part of the senior management group are: General Counsel and Corporate Secretary Kathleen Cronin; Chief Human Resources Officer Hilda Harris Piell; and Chief Financial Officer James E. Parisi. They will remain in their current posts and continue to report to Gill.
Parisi recently announced plans to retire from the company later this year, after which John Pietrowicz, his deputy, will become CFO.
Under the new structure, Holzrichter, Kometer and Cutinho will report directly to Taylor, according to a CME spokesperson, while Durkin, Taylor, Sammann, Tully, Zagotta, Piell, Cronin and Parisi will report directly to Gill.
In a separate email exchange, FTF News asked the spokesperson for more context regarding the appointments, and whether the new structure is meant to reflect the importance of new regulations, both in the U.S. and elsewhere.
“As our clients’ needs have evolved, so too has our need to reorganize to more efficiently meet those needs. In this case,
Kim Taylor, president, global operations, technology and platform development, CME Group.
we have streamlined our leadership and refocused the individuals named on specific, in some cases, larger areas to better serve our global client base,” the CME Group spokesperson says.
Asked again for specifics regarding those evolving needs, the CME spokesperson declines comment.
Need a Reprint?
Leave a Reply