Numerix Promotes COO to CEO
Steven R. O’Hanlon,
CEO & president,
Numerix
Numerix, a cross-asset analytics vendor for derivatives valuations and risk management, has promoted its president and chief operating officer (COO) Steven R. O’Hanlon to the post of CEO and president, officials say. Dr. Gregory Whitten, who held the position of CEO since 2003 will remain as chairman of the board.O’Hanlon has served as president and COO since 2002 during which the time the vendor grew by 2163%, Whitten says in a statement. Under O’Hanlon’s watch, he helped Numerix achieve a five-year compound annual growth rate of more than 20% “and has led the company into the new frontier of risk,” Whitten adds.
O’Hanlon also set several strategic initiatives including consolidating the product stack into a single cross-asset analytics offering, creating the Numerix partner channel, focusing on key acquisitions, and developing pricing and risk analytics solutions. Over the past decade, O’Hanlon has overseen Numerix’s corporate and product strategy, field operations, global sales initiatives, product development and marketing communications.
“In my new role as CEO, I look forward to accelerating our brand further into the risk space and executing on a number of major initiatives that empower the end user,” O’Hanlon says in a statement. Numerix’s cross-asset solutions encompass structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products.
Liquid Holdings Hires Industry Vet as CEO
Brian Storms,
CEO,
Liquid Holdings Group
Liquid Holdings Group has appointed financial services industry veteran and board member Brian Storms to the position of CEO, officials say. Liquid offers trading, risk and fund accounting systems to the hedge fund market via software-as-a-service (SaaS) technologies.
Storms has more than 35 years of executive experience in the financial services industry, including his tenure as chairman and CEO of NYSE Blue, a company focused on environmental and sustainable energy markets. He has also served in executive leadership capacities at Marsh & McLennan, including as chairman and CEO of Marsh Inc., a risk and insurance services firm, and as president and CEO of Mercer Human Resource Consulting.
Prior to joining Marsh, Storms was president and CEO of UBS Global Asset Management—Americas and a member of both the UBS Global Asset Management executive committee and the UBS Group managing board. Before UBS, he served as president of the Prudential Investments mutual fund and annuity complex and was a member of the Prudential Securities board.
Reval Taps Oracle for MD for the Americas
A Saas provider of treasury and risk management (TRM) solutions, Reval has named Frank Irizarry as managing director for the Americas, officials say. Irizarry has more than 31 years of experience selling enterprise solutions.
Irizarry, who spent the past 13 years in enterprise sales at Oracle, served through the treasury market’s transformation from sales automation technology to comprehensive customer relationship management (CRM) technology.
In addition to enterprise sales at Oracle, Irizarry was regional vice president of financial services, Eastern region at Siebel Corp., and regional vice president sales of the East region and sales director for financial services at Wang Software. Prior to these positions, Irizarry was global account manager for two of Wang Laboratories largest customers, W.R. Grace and Equitable Life Insurance.
Cleartrade Exchange Names Development Head for Asia
The Singapore regulated futures bourse Cleartrade Exchange (CLTX) has tapped Mark Langley to be its new Asia business development director, officials say. Langley, who was previously with UBS, has experience in the freight and commodities markets—the majority of CLTX’s business. Langley will be responsible for developing the iron ore, freight, fuel oil and other CLTX markets within the Asia-Pacific region, officials say.
“The financial landscape is changing globally with the tightening of trading regulations and Cleartrade Exchange is in an excellent position to help the market deal with these changes,” Langley says in a statement.
Cleartrade Exchange is a regulated futures market for commodity futures and over-the-counter (OTC) cleared derivatives. Cleartrade Exchange is incorporated in Singapore with offices in London.
CME Group Announces Slate of Director Nominees
The CME Group has announced its slate of candidates to serve on the company’s board of directors and declared that CME Group shareholders will vote for directors at the company’s annual meeting on Wednesday, May 22. The board will also adopt a majority voting standard and amendments to its bylaws and corporate governance principles before the 2013 annual meeting.
The Class A and Class B shareholders voting together will elect nine candidates to the board, officials say. Additionally, the Class B-1 and Class B-3 shareholders will each elect a candidate to the board. The following candidates will be elected by the Class A and Class B shareholders voting together:
- Terrence A. Duffy, 54, executive chairman and president, CME Group;
- Charles P. Carey, 59, former vice chairman, CME Group; partner, Henning and Carey Trading;
- Mark E. Cermak, 61, director, execution services, ABN AMRO Clearing Chicago;
- Martin J. Gepsman, 60, independent broker and trader;
- Leo Melamed, 80, chairman emeritus, CME Group; chairman and CEO, Melamed and Associates, Inc.;
- Joseph Niciforo, 52, principal, Henning and Carey Trading;
- C.C. Odom II, 70, independent member/trader; sole proprietor, Odom Investments and Argent Venture Capital;
- Jack F. Sandner, 71, retired chairman of the board, CME Group; chairman, E*Trade Futures;
- Dennis H. Suskind, 70, retired partner, Goldman Sachs & Co.
One candidate from each of the following Class B-1 and Class B-3 nominees will be elected to the board. The nominees for Class B-1 director are:
- Paul J. Heffernan, 53, independent trader;
- Howard J. Siegel, 56, independent trader;
The nominees for Class B-3 director are:
- Peter Kosanovich, 41, managing member, Brisbane Brokerage; Thorntree Enterprises; and Trean Group;
- Steve Wollack, 70, independent trader, attorney and expert witness in futures industry.
Westlake Securities Staffs Up for Energy Markets Push
Westlake Securities, based in Austin, Texas, has added to its capital markets team by hiring a specialist in institutional equity research sales Craig Hancock, officials say. Westlake has launched a new research division to support its expertise in oil, gas and energy services. “So, it makes sense to add someone like Craig, especially now that the energy market is so active,” says Jules Scruggs, Westlake’s senior vice president, capital markets, in a statement.
Hancock, who has more than a decade of experience, has worked for Wedbush Morgan in Los Angeles, and for BlueFin Research Partners in San Francisco; he moved to Austin in 2010 with BlueFin. Hancock is a graduate of the United States Air Force Academy in Colorado Springs, Colo. He spent five years in active duty military service and achieved the rank of captain before entering the securities markets.
Westlake offers agency-only execution of domestic and international securities for institutional clients, and has extensive experience in trading large blocks of illiquid stocks.
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