North American multinational derivatives marketplace CME Group has today announced a comprehensive senior level restructure, involving a series of leadership appointments which introduce new talent to the firm’s executive roles. The new appointments have been extensive within CME Group’s Executive Team, which reports to Phupinder Gill, CME Group Chief Executive Officer.
Mr. Gill will continue to report to CME Group Executive Chairman and President Terry Duffy.
Executives assuming new roles include Bryan T. Durkin, who assumes the position of Chief Commercial Officer. 53 year old Mr. Durkin will take on a newly created role, designed to comprehensively serve and support CME Group’s global client base by ensuring the development, delivery and maintenance of industry leading products, platforms and services.
He 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. Mr. Durkin will oversee the company’s International Offices, Client Development and Sales, Business Development, Co-location and Technology Services, Information Products, Index Services, Marketing, Research and Product Development & GFX. Mr. Durkin will report to Mr.Gill, and his appointment represents an internal move, as he previously served as Chief Operating Officer since 2007, and has held positions of increasing responsibility over his more than 30-year career with the company.
Following Mr. Durkin, Kim Taylor has been appointed President of Global Operations, Technology & Risk. Ms. Taylor will lead all of the company’s operational functions globally, which includes Clearing, Operations, Technology and Platform Development. She will be charged with bringing new trading and clearing products and services to market, reporting to Mr. Gill. She joined the company in 1989 and previously served as President, CME Clearing since 2004. Her organization will include the following individuals and their teams.
Next in line for a new position as a result of this restructure is Julie Holzrichter, who assumes the position of Chief Operating Officer. Ms. Holzrichter will continue to lead the firm’s global operations, a role she has held since 2007, the penultimate position in her 20-year tenure at CME Group.
Kevin Kometer has been charged with the responsibility of Chief Information Officer. 50 year old Mr. Kometer will continue to lead the company’s global technology organization, a role he has held since 2008. Kometer joined CME Group in 1994, whilst Sunil Cutinho will become President of CME Clearing. Mr. Cutinho joined CME Group in 2002 and, since earlier this year, served as Managing Director, Deputy Head of CME Clearing.
Industry veteran Derek Sammann has been elected to the position of Senior Managing Director, Commodity and Options Products. 46 year old Mr. Sammann will be responsible for leading the firm’s Energy, Metals and Agricultural products teams, as well as the company’s options business, globally, reporting to Gill. He previously led the company’s foreign exchange, metals and options businesses. Sammann joined CME Group in 2006.
Sean Tully, Senior Managing Director, Financial and OTC Products. This position will require Mr. Tully to oversee CME Group Interest Rate, Equity, Foreign Exchange and OTC businesses, reporting to Gill. He previously led the company’s Interest Rate and OTC businesses. Mr. Tully joined CME Group in 2012. Robert Zagotta takes on the position of Senior Managing Director of Strategy & Execution. Mr. Zagotta will be responsible for the development and execution of the company’s corporate strategy, reporting to Mr. Gill. He previously led the company’s Products & Services teams since joining CME Group in 2012.
These individuals will serve as the senior executive team for the company, along with General Counsel & Corporate Secretary Kathleen Cronin, Chief Human Resources Officer Hilda Harris Piell, and Chief Financial Officer James E. Parisi, all of whom will remain in their current roles and continue to report to Mr. Gill. Mr. Parisi previously announced plans to retire from the company later this year, after which time John Pietrowicz will assume the CFO role.
For the official announcement from CME Group, click here.