The International Swaps and Derivatives Association (ISDA) has announced two senior changes in its organisation.
Tara Kruse has been appointed head of ISDA’s margin for non-cleared derivatives implementation effort. She replaces Mary Johannes, who is leaving the association to pursue other interests.
Kruse joined ISDA in 2013 as a director in the data and reporting team, and was appointed co-head of data, reporting and FpML in March 2015.
As head of the ISDA Working Group of Margining Requirements (WGMR) initiative Kruse will be responsible for helping the industry prepare for the variation margin ‘Big Bang’ on March 1, 2017, and the extension of initial margin requirements to phase-two entities in September 2017.
She will also oversee forthcoming updates to the ISDA Standard Initial Margin Model (SIMM) and the management of the SIMM governance framework.
Icap has appointed Guy Rowcliffe, CEO of its Reset business as head of Asia Pacific, Icap Post Trade Risk and Information Services (PTRI), which comprises a portfolio of businesses, including Reset, TriOptima, Traiana, ENSO, Abide and Icap Information..
In the newly created role, Rowcliffe will be responsible for Asia Pacific regional strategy for Icap’s PTRI business and will represent the company amongst regulators, industry bodies and committees. He will continue in his role as CEO of Reset and will report to Jenny Knott, CEO of Icap’s PTRI division.
Justin Brill has joined the Cürex Group as managing director responsible for business development.
Brill has spent the last 12 years at Morgan Stanley where most recently he was executive director for listed derivatives and OTC clearing. Prior to that, he was global head of FX and metals prime brokerage.
“Justin’s decision to join Cürex speaks volumes about the relevance of our FX ECN platform and data analytics capabilities, as well as their unique benefits to every buy side customer,” says Jamie Singleton, Cürex chair and CEO.
After four and a half years, Gil Mandelzis has stepped down as CEO of EBS BrokerTec. In a wide-ranging conversation with Colin Lambert he talks about his time in charge of what remains an important piece of the foreign exchange industry's infrastructure; the challenges and rewards involved in transforming EBS into a multi-product business; the rebuilding of trust with the industry; geographical and economic growth; and his hopes for the future of the firm - and the wider FX industry.
CME Group’ s CEO, Phupinder Gill, has informed the company's board of directors that he is retiring from the organisation and board, effective, December 31, 2016.
At the board's request, Terry Duffy has assumed the expanded role of chairman and CEO. Bryan Durkin, who is currently chief commercial officer, has been named president of CME Group.
Gill, a 28-year veteran of the exchange, has served in numerous roles during his tenure and was named CEO in 2012.CME says that during the next two months, Gill will work with Duffy, Durkin and the rest of the exchange’s management team on the transition.
Jacqueline Loh, deputy managing director at the Monetary Authority of Singapore (MAS), has been appointed as chair of the Bank for International Settlements’ Markets Committee.
The committee is a forum where senior central bank officials jointly monitor developments in financial markets and assess their implications for market functioning and central bank operations. It has also been a staging post for work on the FX Global Code of Conduct as well as other markets-based initiatives.
Loh's appointment is for a term of three years starting in mid-January 2017. She succeeds Guy Debelle, recently appointed deputy governor of the Reserve Bank of Australia, who has chaired the committee since June 2013.
Phil Weisberg, managing director, global head of FX, rates and credit at Thomson Reuters, has left the firm.
According to a company memo seen by Profit & Loss, Weisberg has decided to leave in order “to pursue opportunities outside the firm”.
The memo says that Michael Chin and Neill Penney have been appointed as the co-heads of the trading business within customer proposition in the wake of Weisberg’s departure. Sources say Penney will lead the FX group, while Chin will focus on the equities side.
Edgewater Markets has continued its recent raft of senior hires with the appointment of Robert Catalanello as its new global head of sales.
Based in Edgewater’s New York headquarters, Catalanello will be responsible for managing the company’s sales team, as well as client growth and distribution globally. He will report directly to Skovran Schreder, co-founder and CEO.
Catalanello joins the firm after a decade with Credit Agricole, where he headed global market sales for the Americas. Prior to that, he had stints in the global sales and trading businesses at Merrill Lynch, Goldman Sachs and JP Morgan.
TraderTools has appointed Andrew Levine as its new CEO and a member of its board of directors.
Levine joins TraderTools from SpeedRoute and tØ, subsidiaries of Overstock, where he was the chief revenue officer.
Prior to this, Levine held positions at BNY Mellon, including head of global product management and EMEA relationship management for the American Depositary Receipt (ADR) division.
While at ConvergEx, an affiliate of BNY Mellon, he was an executive committee member and expanded its ADR Brokerage businesses to over 100 clients with market access to 35 countries.
Sean Hefkey has left his position as director, foreign exchange at ITG in Canada.Sean Hefkey has left his position as director, foreign exchange at ITG in Canada.
Hefkey had been with ITG since 2010, working initially as a consultant for the firm, and then helping to develop its global FX distribution and infrastructure strategy, before joining full-time in 2011.
Prior to that he spent 12 years at CIBC where he was an executive director, focused on the firm's FX e-commerce business.