CME Group has announced changes to the company’s management team structure, with all new appointments reporting directly to Chairman and Chief Executive Officer Terry Duffy.
Sunil Cutinho was appointed as Chief Chief Information Officer, overseeing the company’s enterprise technology. Cutinho, who joined the Group in 2002, previously led CME Clearing and has servied in a range of technology roles. He takes the place of Kevin Kometer who is retiring at mid-year.
The Chief Operating Officer, Julie Holzrichter will now oversee global operations, as well as CME Clearing.
The Group promoted Suzanne Sprague to Senior Managing Director, Global Head of Clearing & Post-Trade Services. She will report to Holzrichter.
According to the official announcement, Sean Tully will continue to lead the Group’s interest rates business as Senior Managing Director, Global Head of Rates & OTC Products. He helps global clients navigate the ongoing market transition from LIBOR to SOFR-based products. Tully will continue to oversee CME Group’s cash and OTC businesses.
The company also promoted Tim McCourt to Senior Managing Director, Global Head of Equity and FX Products. In his new role, he will be responsible for overseeing equity, foreign exchange, cryptocurrency and alternative investment products.
Lynne Fitzpatrick was also promoted to the management team as Deputy Chief Financial Officer. She will succeed CFO John Pietrowicz who has announced his plans to retire in 2023. Fitzpatrick will work with Pietrowicz ensuring smooth transition.
Chairman and Chief Executive Officer Terry Duffy, commented:
As we continue to transform our business, we are restructuring our management team to further sharpen our focus and enhance our ability to achieve our strategic priorities for our clients, shareholders and employees.
Duffy continued:
On behalf of everyone at CME Group, I want to thank Kevin for all he has done to help our company advance, not only through technology, but through countless other contributions over his nearly 30-year career. I also want to thank John for his leadership over the last 20 years, as he has been a part of so many milestones for our company. I look forward to continuing to work with John to deliver value to CME Group’s clients and shareholders. Also, I am excited that John will be a big part of transitioning and continuing to mentor Lynne in her new role. Looking ahead, I am pleased with this new structure and the leaders we now have in place to move our company forward.
CME Group recently published its trading report for the fourth quarter, seeing operating income rise of 22.5%.
