Cboe has formed a Markets division to unify product, sales, business development and account coverage personnel across the company’s US equities and options, ETP listings, global derivatives and FX businesses.
The new division will be supported by multi-asset resource teams and headed by Andy Lowenthal and Bryan Harkins, who have been appointed executive vice presidents and co-heads.
Lowenthal has been leading Cboe’s global derivatives group, which included the exchange operator’s four options exchanges, Cboe Futures Exchange (CFE), and products related to the Cboe Volatility Index (VIX). He led the global client services group, which focused on business development and account management across all channels, and in all geographies, and directed Cboe’s business analysis and institutional and international business development groups.
Harkins, meanwhile, led Cboe’s US equities business, comprising four distinct stock exchanges, as well as the firm’s global FX business following the acquisition of Hotspot FX as part of the deal to by Bats. Teams under his leadership included those responsible for listings (ETPs), market data, product design, and competitive strategy.
“Andy and Bryan are highly accomplished executives with complementary backgrounds,” says Ed Tilly, chairman and CEO of Cboe. “Their joint leadership will connect opportunities across our diverse set of products and drive their team towards ambitious and exciting goals. By combining teams with incredible expertise, the new Markets division is structured to better leverage a deep pool of talent to serve our global customers even more efficiently.”