Options Clearing Corp., CalSTRS and Axioma also have People Moves news.
LME Interim CEO Becomes Permanent
Matthew Chamberlain, CEO, LME
Matthew Chamberlain, the interim CEO for the London Metal Exchange (LME) since January, has been appointed to the post on a permanent basis, subject to the approval of the Financial Conduct Authority (FCA) a U.K. regulator, officials say.
The LME leadership changes are intended to help the LME “strengthen and secure” its role as the center for global metals trading, officials say.
Officials of the LME, a wholly owned subsidiary of Hong Kong Exchanges and Clearing Ltd. (HKEX), add that Chamberlain will remain on the LME board and will stay on as a member of HKEX’s management committee.
In addition, Chamberlain will work closely with Adrian Farnham, LME Clear CEO, officials say. “Mr. Farnham has been instrumental in the establishment and continued success of LME Clear, initially as chief operating officer, and currently as chief executive,” officials add.
Before his time as the interim CEO, Chamberlain served as chief operating officer (COO) and head of strategy of the LME, and co-head of business development across LME and LME Clear, officials say. He also led the LME’s warehousing reform process, the new London platinum and palladium pricing administered by the LME and the LMEprecious initiative.
Chamberlain, who joined LME in November 2012, advised HKEX on the acquisition of the LME while heading European financial technology coverage at UBS, officials say. He also served as a founding member of the financial institutions coverage team at Perella Weinberg.
In addition to Chamberlain’s promotion, James Proudlock will take on the role of managing director and head of market development for the LME and LME Clear, reporting to Chamberlain and Farnham, officials say. Proudlock joined the firm earlier this year from JP Morgan Securities.
Options Clearing Corp. Appoints SVP, Enterprise Risk Management
The Options Clearing Corp. (OCC), an equity derivatives clearing provider, reports the appointment of David Ridgway as senior vice president, enterprise risk management, reporting to John Fennell, executive vice president and chief risk officer.
Ridgway joins from BNY Mellon, where he served from October 2013 to the present, most recently as North America head of risk, investment management, OCC
David Ridgway, SVP, OCC
says.
At this post, Ridgway was “responsible for providing risk support, oversight and advice across all risk classes with respect to the North American asset and wealth management business, distribution businesses and support functions, with total assets under management of $1.6 trillion,” according to OCC’s statement.
Ridgway “also was the risk management advisor for strategic growth initiatives, acquisitions and new business, and originated and led the implementation of risk appetite within asset management, partnering with the executive team and serving as a member of the investment management risk committee,” OCC officials say.
Prior to BNY Mellon, Ridgway was the interim head of corporate and operational risk for Threadneedle Investments, from April to September 2013, per OCC, “where he had global responsibility for all aspects of corporate and operational risk management for the London-based asset manager with assets under management in excess of $100 billion.”
In addition, Ridgway served as global head of operational risk for BlackRock in New York from November 2009 to March 2013, “where he had global responsibility for all aspects of the firm’s operational risk management across all products and geographies with assets under management of $3.8 trillion,” officials say.
CalSTRS’s Retirement Board Elects Two
The board of the California State teachers’ retirement system (CalSTRS) reports the election of Dana Dillon as board chair and Sharon Hendricks as vice chair for the 2017-18 term, effective immediately.
The teachers’ retirement board nominates and elects its chair and vice chair annually, CalSTRS says in a statement, and the chair and vice chair provide “board leadership, direction and policy development for the largest educator-only pension fund in the world.”
Dillon is an intermediate grade school teacher from Weed, a small California town, who has served on the board since 2003, and who “has been active in the California Teachers Association for more than 26 years,” including stints as chair and vice chair, CalSTRS says.
Hendricks is a communications studies professor with the Los Angeles Community College District and was elected to the Teachers’ Retirement Board in 2011, according to the statement. “She also serves as president of the American Federation of Teachers, local 1521 chapter at Los Angeles City College. Ms. Hendricks is active in the Community College Council of the California Federation of Teachers.”
CalSTRS, with a portfolio valued at $202 billion as of the end of February 2017, is the “largest educator-only pension fund in the world,” and it administers a “hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits.”
Axioma Names Head of Index Business
Christopher Woida, managing director, Axioma
Axioma, a provider of enterprise market risk and portfolio analytics solutions, reports that Christopher Woida, previously an investment strategist and a founding member of the factor-based strategies group at BlackRock, has joined managing director, index solutions, “responsible for strategy, development and sales” in Axioma’s indexing initiative, according to a statement.
Axioma characterizes the index business as leveraging its “portfolio-construction expertise and solutions to build systematic indices for third parties, mainly index providers, investment banks and asset managers.”
“During his seven years at BlackRock, Woida helped to build the company’s smart beta and factor-based platforms,” Axioma officials say. “He contributed to the design of the company’s first fixed income smart beta ETF, and its quantitative fixed income liquid alternatives mutual fund. More recently, he was the lead investment strategist for BlackRock’s flagship style factor hedge fund.”
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