Mark Donlon has joined RJ O’Brien to head a newly-established OTC swaps business. He will be based in New York and report to Dan Staniford, RJO’s chief sales officer.
Donlon has a nearly 30-year career in OTC and listed derivatives with a specialty in fixed income sales and trading. He built and ran global interest rate swaps businesses for Citi and Royal Bank of Scotland and was a key player in establishing and leading the rates swap execution facility (SEF) at GFI Group. For the past two years, Donlon was a principal at a private equity firm, overseeing foreign exchange hedging opportunities.
The new desk will initially support on-SEF and off-SEF activities, block trades and basis trades, as well as cleared swaps at CME Group and the London Clearing House (LCH) in US dollar interest rate swaps and the firm says it will expand on the products it can offer clients and introduce new clients to the firm.
“Mark is an outstanding addition to our team,” says Staniford. “He is ideally suited to lead our first foray into the interest rate swaps market, which will be a great complement to our existing institutional fixed income futures and options services. As this business has evolved and matured, many of our clients have expressed interest in our ability to provide them with a swaps offering. We have some of the most highly regarded interest rate futures brokers in the business, and our new desk will offer them a powerful new tool to broaden their investing and hedging capabilities on behalf of our clients. Mark’s extraordinary relationships in the industry will also introduce new clients to the firm, who likewise will then have access to our deep futures expertise.”
Donlon adds, “There is a natural synergy that will enable us to leverage RJO’s strong global franchise with a robust OTC offering. We’ll work hand-in-hand with RJO global institutional brokerage teams, as well as bring new clients into the firm through independent sales efforts, with the ability to trade and support sophisticated market participants around the clock. While we intend to focus initially on U.S. dollar interest rate swaps, we expect to branch out over time into other G10 currencies and OTC derivatives including options.”