- Catherine Clay appointed
Global Head of Derivatives, a new global leadership role for the
organization
- Adam Inzirillo promoted to Global Head of Data and Access
Solutions
CHICAGO, Oct. 11,
2023 /PRNewswire/ -- Cboe Global Markets, Inc.
(Cboe: CBOE), the world's leading derivatives and securities
exchange network, today announced changes and new appointments to
its senior leadership to further support the company's global
growth strategy. These changes include the appointment of
Catherine Clay to Global Head of
Derivatives, a new role for the organization, and the promotion of
Adam Inzirillo to Global Head of Data and Access Solutions.
"Continuing the growth and expansion of our global Derivatives
business presents a tremendous opportunity for Cboe and is an area
where we intend to continue sharpening our focus," said
Fred Tomczyk, Chief Executive
Officer of Cboe Global Markets. "Today's leadership appointments
enable us to further leverage and expand our global footprint to
deliver world-class products and services to our clients."
In her new role, Clay, who was previously Global Head of Data
and Access Solutions and Digital, will oversee Cboe's global
derivatives business, which includes futures and options markets in
the U.S. and Europe, as well as a
suite of globally traded proprietary products, including the
popular S&P 500 Index options and VIX franchises. Clay will
focus on further strengthening and building out Cboe's global
derivatives network and customer base.
Inzirillo, previously Head of North American Equities, will
become Global Head of Data and Access Solutions, overseeing Cboe's
market data and access services, global indices, risk and market
analytics and execution solutions services. Oliver Sung, previously Head of North America
Execution Consulting for Cboe, will replace Inzirillo as interim
Head of North American Equities.
"Cathy successfully led the global expansion of Cboe's Data and
Access Solutions business. Her track record at Cboe, coupled with
her depth and breadth of experience in the trading industry and
derivatives space specifically, make her the ideal leader to assume
this new position," said David
Howson, Global President of Cboe. "Under Adam's leadership,
our Equities business brought many new client-driven solutions to
the market. With Adam's promotion, I'm excited to see the future
innovations that are developed for our DnA business as we seek to
meet global client demand for data and access solutions to our
markets. "
Senior Leadership Team Biographies
Catherine Clay
Clay joined Cboe in 2015. In her most recent role as Executive
Vice President, Global Digital and Data Solutions, she led the
company's efforts to align Cboe's digital assets, data and
analytics product suite and market data services with
strategic objectives. Under Clay's leadership, Cboe's market data
and access services, market and risk analytics, global indices and
order and trade management offerings work in tandem,
providing Cboe's global client base with more efficient and
streamlined access to the company's full suite of data services and
trading resources.
Clay began her career as a clerk in Interactive Brokers'
market-making unit, Timber Hill, and progressed to Lead Market
Maker and Director of Floor Trading and Operations. In 2006, she
left Timber Hill to co-found Thales LLC, a market-making firm on
the NYSE Options Floor and on the OneChicago single stock futures
exchange. She joined Livevol, Inc. in 2010 as Chief Strategy
Officer. At the time of Cboe's acquisition of Livevol in 2015, Clay
held the position of Chief Executive Officer.
Adam Inzirillo
Inzirillo joined Cboe in 2019 as Senior Vice President and Head
of U.S. Equities. Since 2020, Adam Inzirillo held the position of
Senior Vice President, Head of North American Equities at Cboe
Global Markets, Inc. (Cboe). Based in New
York, Inzirillo is responsible for overseeing the product
development and strategic growth of Cboe's U.S. equities business,
as well as Cboe's Canadian equities trading venues, MATCHNow and
the NEO Exchange. Inzirillo is defining markets by helping Cboe
enhance its competitive positioning and its strategic growth
efforts.
During his nearly 20 years in equities trading, Inzirillo has
held a number of senior leadership positions in the industry. Prior
to joining Cboe, he was Managing Director, Head of Order Routing
and Execution Products at Bank of America Merrill Lynch (BAML),
where he worked for nearly a decade. During his tenure, he expanded
the firm's liquidity offerings via business development and product
management of its smart order router, direct market access, order
management applications and non-displayed crossing functionality.
Previously, Inzirillo was Executive Director, Head of Broker Dealer
Business Development at UBS Securities LLC, where he managed the
business development of broker dealers trading on the firm's ATS
and electronic trading platforms.
Oliver Sung
Sung joined Cboe in 2021 as Head of North American Equities
Execution Consulting leading analysis of Cboe's North American
Equities business to help drive internal business growth and the
development of new products. In this role, Sung also oversaw the
creation of unique content for distribution to Cboe clients,
providing comprehensive insight into Cboe's products and services,
as well as the North American equities markets in
general.
Sung has more than 20 years of industry experience and has held
several leadership positions in the electronic trading space. Prior
to joining Cboe, he was Managing Director, Electronic Trading,
Project Management at Cowen, where he where he helped manage
various projects for the company's electronic trading platform and
service. Previously, Sung also held roles as Managing Director,
Head of Electronic Execution at Convergex and Head of Americas
Execution Consulting/Next Generation Algo Product Management at
Bank of America Merrill Lynch.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), the world's leading
derivatives and securities exchange network, delivers cutting-edge
trading, clearing and investment solutions to people around the
world. Cboe provides trading solutions and products in multiple
asset classes, including equities, derivatives, FX, and digital
assets, across North America,
Europe and Asia Pacific. Above all, we are committed to
building a trusted, inclusive global marketplace that enables
people to pursue a sustainable financial future. To learn more
about the Exchange for the World Stage, visit www.cboe.com.
Cautionary Statements Regarding Forward-Looking
Information
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. You can identify
these statements by forward-looking words such as "may," "might,"
"should," "expect," "plan," "anticipate," "believe," "estimate,"
"predict," "potential" or "continue," and the negative of these
terms and other comparable terminology. All statements that reflect
our expectations, assumptions or projections about the future other
than statements of historical fact are forward-looking statements.
These forward-looking statements, which are subject to known and
unknown risks, uncertainties and assumptions about us, may include
projections of our future financial performance based on our growth
strategies and anticipated trends in our business. These statements
are only predictions based on our current expectations and
projections about future events. There are important factors that
could cause our actual results, level of activity, performance or
achievements to differ materially from those expressed or implied
by the forward-looking statements.
We operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible to predict all risks and uncertainties, nor
can we assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements.
Some factors that could cause actual results to differ include:
the loss of our right to exclusively list and trade certain index
options and futures products; economic, political and market
conditions; compliance with legal and regulatory obligations; price
competition and consolidation in our industry; decreases in trading
or clearing volumes, market data fees or a shift in the mix of
products traded on our exchanges; legislative or regulatory changes
or changes in tax regimes; our ability to protect our systems and
communication networks from security vulnerabilities and breaches;
our ability to attract and retain skilled management and other
personnel, including compensation inflation; increasing competition
by foreign and domestic entities; our dependence on and exposure to
risk from third parties; global expansion of operations; factors
that impact the quality and integrity of our indices; our ability
to manage our growth and strategic acquisitions or alliances
effectively; our ability to operate our business without
violating the intellectual property rights of others and the costs
associated with protecting our intellectual property rights; our
ability to minimize the risks, including our credit and default
risks, associated with operating a European clearinghouse; our
ability to accommodate trading and clearing volume and transaction
traffic, including significant increases, without failure or
degradation of performance of our systems; misconduct by those who
use our markets or our products or for whom we clear transactions;
challenges to our use of open source software code; our ability to
meet our compliance obligations, including managing potential
conflicts between our regulatory responsibilities and our
for-profit status; our ability to maintain BIDS Trading as an
independently managed and operated trading venue, separate from and
not integrated with our registered national securities exchanges;
damage to our reputation; the ability of our compliance and risk
management methods to effectively monitor and manage our risks;
restrictions imposed by our debt obligations and our ability to
make payments on or refinance our debt obligations; our ability to
maintain an investment grade credit rating; impairment of our
goodwill, long-lived assets, investments or intangible assets; the
impacts of pandemics; the accuracy of our estimates and
expectations; litigation risks and other liabilities; and operating
a digital asset business and clearinghouse, including the expected
benefits of our Cboe Digital acquisition, cybercrime, changes in
digital asset regulation, losses due to digital asset custody, and
fluctuations in digital asset prices. More detailed information
about factors that may affect our actual results to differ may be
found in our filings with the SEC, including in our Annual Report
on Form 10-K for the year ended December 31,
2022 and other filings made from time to time with the
SEC.
We do not undertake, and we expressly disclaim, any duty to
update any forward-looking statement whether as a result of new
information, future events or otherwise, except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
Media
Contacts
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Analyst
Contact
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Angela
Tu
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Tim
Cave
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Kenneth Hill,
CFA
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+1-646-856-8734
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+44 (0)
7593-506-719
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1-312-786-7559
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atu@cboe.com
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tcave@cboe.com
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khill@cboe.com
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CBOE-F
Trademarks:
Cboe®, Cboe Global Markets®, Cboe Volatility Index®, Bats®, BIDS
Trading®, BZX®, BYX®, Chi-X®, EDGX®, EDGA®, EuroCCP®, MATCHNow®,
and VIX® are registered trademarks of Cboe Global Markets, Inc. and
its subsidiaries. All other trademarks and service marks are the
property of their respective owners.
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SOURCE Cboe Global Markets, Inc.