Global market infrastructure and tradable products provider Cboe Global Markets Inc. has announced on Wednesday the appointment of Vikesh Patel as President of Cboe Clear Europe.
According to the official announcement, Patel will join the pan-European clearing house in early 2023, subject to regulatory approval, to replace Cécile Nagel, who stepped down from the role in September this year.
Vikesh Patel commented:
Vikesh Patel Source: LinkedIn
I am honoured to be appointed as the next President of Cboe Clear Europe. Having been a client, partner and competitor of Cboe Clear Europe over many years I am well aware of the company’s strong reputation, in particular for its outstanding levels of client service, innovation and risk management expertise. The company is at an exciting time in its development and I am looking forward to leading it into its next phase of growth.
Patel brings more than fifteen years of experience in the financial market industry. He joins from SWIFT where he joined in 2017 and most recently served as Head of Securities and lead its securities strategy globally.
Prior to that, Patel was a Chief Operating Officer at LCH, where he focused on strategy, risk management and the development of new products for the clearing organisation’s EquityClear and RepoClear businesses.
Additionally, Patel has also held global executive roles at Goldman Sachs and Morgan Stanley, focusing on market infrastructure and post-trade strategy. His career started at HM Treasury working on a range of domestic and international policy areas and served as a Private Secretary the Financial Secretary to the Treasury, as well as Economic Secretary to the Treasury.
Natan Tiefenbrun, President, Cboe Europe, said:
We are delighted to have Vikesh lead Cboe Clear Europe. He has a long and impressive track record in the securities post-trade industry, both in Europe and globally. We are excited to able to leverage his expertise to support Cboe Clear Europe’s strategic growth and further enhance its position as the leading pan-European clearing house. I would also like to express my gratitude to Arnoud Siegmann for the period in which he has served as Cboe Clear Europe’s Interim President, in addition to his ongoing role as Chief Operating Officer.
Cboe acquired Cboe Clear Europe (formerly EuroCCP) in July 2020. Under the new ownership, the company has grown its volumes on venues that allow fully interoperable clearing as well as those that have adopted preferred clearing. The Cboe Clear Europe has also diversified into equity derivatives clearing, supporting Cboe’s pan-European derivatives exchange launched in September 2021, Cboe Europe Derivatives (CEDX).
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