CHICAGO, Feb. 17, 2022 /PRNewswire/ -- CME
Group, the world's leading derivatives marketplace, today announced
changes to its management team structure to position the company
for long-term success.
"CME Group has a proven history of evolving our business to meet
changing market demands and opportunities," said Chairman and Chief
Executive Officer Terry Duffy. "This
is an exciting and dynamic time for financial markets. We are
fortunate to have built a strong leadership team, each person with
a track record of working successfully across our company. 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."
The new management team structure is detailed below, with all
positions reporting to Duffy unless otherwise noted:
- Sunil Cutinho, who previously
led CME Clearing and served in a variety of technology roles since
joining the company in 2002, has been appointed Chief Information
Officer. Overseeing the company's enterprise technology, Cutinho
will replace Kevin Kometer who is
retiring at mid-year.
- Julie Holzrichter, Chief
Operating Officer, will assume an expanded role to oversee both
global operations and CME Clearing. Holzrichter was appointed COO
in 2014.
- Suzanne Sprague has been
promoted to the management team as Senior Managing Director, Global
Head of Clearing & Post-Trade Services, reporting to
Holzrichter. Sprague has served as Managing Director, Credit,
Collateral and Liquidity Risk and Banking for CME Clearing since
2015.
- Sean Tully will continue to lead
the company's interest rates business, its largest asset class by
revenue, as Senior Managing Director, Global Head of Rates &
OTC Products. He is responsible for helping global clients navigate
the ongoing market transition from LIBOR to SOFR-based products. He
also will continue to oversee CME Group's cash and OTC
businesses.
- Tim McCourt has been promoted to
the management team as Senior Managing Director, Global Head of
Equity and FX Products and will be responsible for overseeing
equity, foreign exchange, cryptocurrency and alternative investment
products. He has led the company's equity and alternative
investment business since joining the company in 2013.
- CFO John Pietrowicz has
announced his plans to retire in 2023. Lynne Fitzpatrick has been promoted to the
management team as Deputy Chief Financial Officer and will succeed
Pietrowicz upon his retirement. Fitzpatrick will work closely with
Pietrowicz to ensure a smooth transition over the next year. She
has served as Managing Director, Treasurer & Head of Corporate
Development since 2017.
"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," said Duffy. "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."
General Counsel & Corporate Secretary Kathleen Cronin, Chief Commercial Officer
Julie Winkler, Chief Transformation
Officer Ken Vroman, Chief Human
Resources Officer Hilda Harris
Piell, as well as Global Head of Commodities, Options and
International Markets, Derek
Sammann, will continue to serve on the management team,
reporting to Duffy in their current roles.
About CME Group
As the world's leading derivatives
marketplace, CME Group (www.cmegroup.com) enables clients to trade
futures, options, cash and OTC markets, optimize portfolios, and
analyze data – empowering market participants worldwide to
efficiently manage risk and capture opportunities. CME Group
exchanges offer the widest range of global benchmark products
across all major asset classes based on interest
rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile
Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board
of Trade of the City of Chicago,
Inc. NYMEX, New York Mercantile Exchange and ClearPort are
trademarks of New York Mercantile Exchange, Inc. COMEX is a
trademark of Commodity Exchange, Inc. BrokerTec and EBS are
trademarks of BrokerTec Europe LTD and EBS Group LTD,
respectively. Dow Jones, Dow Jones Industrial Average,
S&P 500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective
owners.
CME-G
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SOURCE CME Group