CME Restructures International Leadership04.12.2022
CME Group, the world’s leading derivatives marketplace, announced a new regional leadership structure to support its growing international business in Europe, Middle East and Africa (EMEA) and Asia Pacific.
The new structure is designed to enhance the company’s ability to provide local expertise and globally relevant products and services that meet the diverse risk management needs of its clients around the world. Reporting to Derek Sammann, Senior Managing Director, Global Head of Commodities, Options and International Markets and a member of the CME Group Management Team, the following executives have been appointed to new roles:
- Michel Everaert, has been named Managing Director and Head of EMEA, a new position based in London. Everaert joined CME Group in 2011 and most recently served as the company’s Managing Director and Co-Head of Client Development & Sales (CD&S) for EMEA. He has 30 years of experience in derivatives markets including roles at IMEX Group, GFI Group, Logica, Reuters and Dow Jones.
- Russell Beattie will join CME Group in May as Managing Director and Head of Asia Pacific. Based in Singapore, Beattie has over 25 years of experience in the listed and OTC derivatives markets and most recently served as Head of Asia Pacific Derivatives Indexes for MSCI. He also held APAC leadership roles for Bank of America Securities, Barclays, Deutsche Bank and HSBC. He replaces Chris Fix who retired in March 2022.
Additionally, Serge Marston has been appointed Managing Director and Head of CD&S for EMEA, responsible for leading CME Group’s sales efforts in the region across both listed derivatives and cash markets. Marston will be based in London and will report to David Hartney, Global Head of CD&S. Marston joined CME Group in 2018 following the company’s acquisition of NEX Group and most recently served as Co-Head of CD&S for EMEA. Marston previously worked at Deutsche Bank for nearly 20 years where he held a variety of roles including Global Head of eCommerce Sales.
William Knottenbelt, who currently serves as Senior Managing Director, Head of International, will retire at year end.
“After record volume growth in EMEA and Asia Pacific for each of the past 10 years, approximately 30% of our revenue is now generated from non-U.S. markets,” said Sammann. “Building on that momentum, the organizational changes announced today further elevate both the significance and opportunities that these regions represent to our overall business and reflect the many achievements of our talented regional team members. To that end, I want to thank William for his contributions in getting us to this point in the continued evolution of our international business.
“I’m now pleased to appoint Michel Everaert, who is a long-standing CME Group employee, to head our EMEA region and name Russell Beattie to lead our business in Asia Pacific. Our new structure will enhance our ability to provide local expertise and globally relevant products and services to meet the diverse risk management needs of our clients around the world.”
In Q1 2022, outside the United States, CME Group reached average daily volume (ADV) of 7.3 million contracts, up 18% year on year. The increase was driven by 17% growth in EMEA (5.1 million contracts ADV) and 22% growth in Asia Pacific (1.9 million contracts ADV), compared to the same period last year.
In 2021, CME Group saw a record ADV of 5.5 million contracts from outside of the U.S., representing 28% of total volume. EMEA volume reached a record 4 million ADV, up 3%; Asia Pacific reached a record 1.3 million in ADV, an increase of 5%; and Latin America volume was up 5% over the same period.
This is Deutsche Börse's second collaboration with a Latin American stock exchange.
The business is being divided into Market Platforms, Capital Access Platforms, and Anti-Financial Crime.
Brett Harrison had joined the crypto exchange in May 2021 from Citadel Securities.
Asset managers will have a single service for SFDR reporting.
Aim is to provide institutional-grade solutions focused on enhanced custody, liquidity and integrity.