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Regulators

OCC Names New CFO and New CCO

December 20, 2016

[Photo:  Craig Donohue  -  ChicagoBusiness.com]

 

The Options Clearing Corp., the primary clearinghouse for U.S. options trades, named a new CFO and CCO in a C-suite shake-up aimed at improving its management culture.  The OCC also created a new treasurer's position and filled it with a CME Group executive.

 

The overhaul "strengthens the breadth and depth of experience we believe is necessary to strengthen OCC's financial management and risk governance culture." – CEO Craig Donohue.

 

Donohue became OCC's executive chairman in 2014 and later took on the role of CEO, after the SEC criticized regulatory compliance, governance and risk management at the company. Donohue was formerly a chief executive at CME.

 

  • Amy Shelly, a former CFO for trading firm Optiver U.S., will replace Kimberly McGarry as its new CFO.
  • OCC's deputy general counsel, Joe Adamczyk, will become CCO, replacing Richard Wallace.
  • James Pribel, formerly CME's treasurer, is the new First Vice President of Treasury.