Changes at the Top for Former NEX Businesses

CME Group has appointed new heads to the EBS, BrokerTec and Optimisation business lines as part of its ongoing integration with NEX Group, which the exchange acquired last year.

Jeff Ward has been named global head of EBS, having formerly served as global head of NDFs and forwards and head of EBS Asia, based in Singapore. In this new role he will now be based in London.

John Edwards, who formerly served as managing director of BrokerTec EMEA, has been named global head of BrokerTec. Dan Cleaves, CEO of BrokerTec North America, is set to remain with the company, but only in a transition role, managing the platform’s migration to CME Globex.

Ward, Edwards and Cleaves will all report into Seth Johnson, CEO of cash markets at CME Group. However, as Profit & Loss previously reported, Johnson himself is due to be leaving the company before the end of the year.

Elsewhere, Guy Rowcliffe has been appointed global head of optimisation services, where his responsibilities will include leading the development of CME Group’s full optimisation portfolio and serving as head of its TriOptima and Reset businesses. In this role, Rowcliffe will report to Ken Pigaga, who is currently responsible for overseeing what were previously the NEX Optimisation businesses. Again, Pigaga is only remaining with CME in a transitory role.

Reporting to Rowcliffe, Joanna Davies will oversee Traiana and the company’s regulatory reporting services. Raf Pritchard will continue to manage TriOptima’s triResolve business line and Paul Busby will continue to lead ENSO.

CME also revealed that Andrés Choussy and Peter Weibel, respectively the former head of Traiana and co-head of TriOptima at NEX Group, will be leaving the company. Each will remain at the exchange for a transition period to facilitate the ongoing integration of these businesses into CME. Profit & Loss previously reported that Tim Cartledge, head of FX and head of product at EBS, will be departing the company this month.

Lizzy Birmingham

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