Chicago derivatives exchange operator CME Group has appointed new heads for its equity products and interest rate products groups.

Michael Kilgallen, a 15-year industry veteran, will be responsible for the growth strategy behind CME’s equity index business, and will be based in New York. Prior to joining CME, Kilgallen served as managing director for Citigroup’s equities division. He also previously held a management position with Goldman Sachs’ quantitative equity group. He will report to Scot Warren, managing director of equity index products and services.

Sean Tully will be in charge of developing CME’s interest rate products division, and will also be based in New York. Tully will succeed the departing Robin Ross, who will stay on until year end to help the transition. Ross had held the position for the past five and a half years, and has resigned “to pursue other interests,” according to Michael Shore, a company spokesman.

Tully’s 20 years of experience most recently included a stint at German’s WestLB, where he served as global head of credit and fixed income trading. Tully has also traded interest rate derivatives at Citibank and Greenwich Capital. He will report to Derek Sammann, managing director of FX and interest rate products.

The two hires were effective as of Aug. 8. Moving forward, CME will continue to “look for talented individuals to provide deep, liquid markets and the most diverse suite of listed and OTC financial products so that we can create substantial operational and capital efficiencies for our global clients,” said Shore.