In other People Moves, EuroCCP’s CEO is stepping down while Northern Trust names a transition manager for EMEA, and EuroClear has a new chief information officer.
Also Thomas Ascher is QB’s New Executive Chairman of the Board
Quantitative Brokers has hired Ralf Roth, IHS Markit’s former equities division chief technology officer (CTO) to be its new CEO and named industry veteran Thomas Ascher to be the next executive chairman, officials say.
Starting December 18, Roth will take the reins as CEO of QB, an independent algorithmic agency brokerage, which offers algorithms and data-driven analytics to the futures and U.S. cash treasury markets.
Roth has previously served as global head of Elektron at Thomson Reuters and has worked at Deutsche Bank as global head of fixed income electronic trading and equity electronic trading businesses, officials say. In addition, he has “advanced mathematical training, technology knowledge and securities industry experience” that will complement QB’s existing team, says co-founder Robert Almgren, who will continue in his roles as president and head of research.
Roth also has “experience with machine learning and cloud computing that will help us scale and expand on the innovation that defines QB in the market,” says Christian Hauff, co-founder and outgoing CEO of Quantitative Brokers, officials say. Hauff will remain as a member of QB’s board and executive committee and will oversee the firm’s client and industry relationships.
Roth, who will be based in QB’s New York offices, will report to the board of directors and will join it, officials say.
The new Executive Chairman Ascher has more than 30 years of experience with financial technology and in the exchange industries. Among his many roles, he has served as president and CEO of pari-mutuel software company Longitude, chief strategy officer at ISE, and vice chairman and chairman of the executive committee at the CBOE, and serve on many industry boards, including the CBOE and Direct Edge Holdings, officials say.
“The appointment of Ralf marks the next step in our plan and vision for QB’s growth,” Ascher says.
CEO Diana Chan to Hand Over the Management of EuroCCP
EuroCCP, the European multilateral clearinghouse, reports that, on July 1, 2018, Diana Chan, chief executive officer, will “hand over the management of EuroCCP to her successor and assume the position of Senior Advisor to the Chairman of the Supervisory Board of EuroCCP.”
The new CEO will focus on organizational preparedness for challenges in the decade ahead, EuroCCP says, adding that the CEO search has started, and “clients will be advised of the appointment in due course.”
Chan was appointed CEO of EuroCCP in 2007 and has been the CEO of EuroCCP N.V. since 2013, according to a statement, which notes that, during her tenure, EuroCCP N.V. “gained access to the trade feeds of London Stock Exchange, SIX Swiss Exchange and Euronext, extending the company’s access to over 80% of equities trade flows in Europe. The company also started to develop a clearing service for stock loans.”
Northern Trust Names EMEA Transition Manager
Northern Trust Corporation reports that Mike Mahoney has been appointed a transition manager for Europe, Middle East and Africa (EMEA).
The new hire “highlights Northern Trust’s continued investment in its Capital Markets business which encompasses transition management, institutional brokerage, foreign exchange and securities lending services,” the firm says in a statement.
London-based Mahoney will be responsible for “all aspects of the transition event life cycle, encompassing assignment origination, relationship management, execution strategy and end-to-end project management,” according to the statement, which also notes that he reports to Craig Blackbourn, who was appointed to head EMEA transition management at the beginning of 2017.
Mahoney joins from State Street Global Markets, where he was a transition manager and portfolio trader for the last eight years, per Northern Trust.
Founded in Chicago in 1889, Northern Trust has U.S. offices in 19 states and Washington, D.C., as well as in 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region, the firm notes, also pointing out that, as of September 30, 2017, Northern Trust had assets under custody/administration of US$9.7 trillion, and assets under management of US$1.1 trillion.
SocGen Vet Joins Euroclear as Chief Information Officer
Euroclear, the Belgium-based provider of post-trade services, reports that, subject to regulatory approval, Yves Dupuy will becomes its chief information officer.
He will be based in Brussels and will join the Euroclear group executive committee, reporting to Lieve Mostrey, CEO of the group.
Dupuy joins from Societe Generale, where he most recently was the chief information officer, global banking and investor solutions, for the EMEA region Euroclear says.
Euroclear “provides settlement, safe-keeping and servicing of domestic and cross-border securities for bonds, equities and derivatives to investment funds,” according to its statement, which also notes that the group includes Euroclear Bank, “as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland.
The Euroclear group settled the equivalent of €655 trillion in securities transactions in 2016, representing 196 million domestic and cross-border transactions. In the first half of 2017, the group held €28 trillion in assets for clients, officials say.