CME Group, a global diverse derivatives marketplace, has appointed Otto Nageli as chairman designate of CME Clearing Europe, CME Group’s UK Clearing House.
In this role, Mr Nageli will serve as non-executive independent chairman of the board of CME Clearing Europe, providing leadership to the governance of CME Clearing Europe and imparting the benefits of his knowledge and experience to the development of clearing services for over-the-counter (OTC) market participants.
Mr Nageli is currently sole managing partner of OEN Consulting, which provides research and advice on banking, exchange, settlement and clearing issues in Europe.
Andrew Lamb, CEO of CME Clearing Europe, said: “I am delighted that Mr. Nageli will serve as chairman of the board of CME Clearing Europe. His vast experience of the technical, regulatory and customer-facing issues involved in establishing and running a successful clearing facility will be invaluable to us as we build our operations over the coming years.”
However, Mr Nageli’s appointment is awaiting for approval by the Financial Services Authority (FSA).
