Donohue transitions to chairman after OCC board reshuffle
23 January 2024 US
Image: OCC
The Options Clearing Corporation (OCC) has selected Craig Donohue as chairman following a reshuffling of its board of directors.
In Donohue鈥檚 role as chairman of the board, he will remain integrally involved with oversight and governance at OCC.
He has been the executive chairman of the board since 2014, which he joined after OCC's designation as a Systemically Important Financial Market Utility (SIFMU) by the Financial Stability Oversight Council.
Prior to joining OCC, Donohue spent more than two decades in global financial markets, most recently as CEO of CME Group from 2004 until 2012.
As part of the reshuffle, the equity derivatives clearing organisation has selected OCC CEO Andrej Bolkovic and Nasdaq鈥檚 president of European market services Roland Chai to join the board.
Bolkovic has more than 25 years鈥� experience in the global financial industry. Prior to joining OCC in 2022, he served as the CEO of Akuna Capital and its affiliated broker-dealer, Akuna 麻豆传媒.
From 2016-2020 he was the CEO of ABN AMRO Clearing Chicago, with overall responsibility for the broker-dealer and futures commission merchant activities of the firm.
Chai brings more than 20 years of experience in technology, risk management, trading and post trade across multiple asset classes, and replaces Meyer Frucher, now retired Nasdaq vice chairman.
In his current role, he leads Nasdaq麓s multi-asset trading, clearing, listings and market services businesses across Europe.
Commenting on the appointments, Donohue says: 鈥淲e welcome Andrej Bolkovic to the board as part of our transition to a non-executive chair governance structure. Since joining OCC in August 2022, Andrej has proven to be a highly effective CEO, and I look forward to continuing to work with him in leading OCC.
鈥淲e are also pleased to welcome Roland to our board, as he brings a wealth of knowledge in the global listed derivatives industry.鈥�
Bolkovic adds: 鈥淚 have confidence in our ability to help ensure OCC fulfils its mission of providing stability and market integrity through delivering our critical clearing and settlement capabilities to our clearing members, participant exchanges, and the greater investing public.鈥�
In Donohue鈥檚 role as chairman of the board, he will remain integrally involved with oversight and governance at OCC.
He has been the executive chairman of the board since 2014, which he joined after OCC's designation as a Systemically Important Financial Market Utility (SIFMU) by the Financial Stability Oversight Council.
Prior to joining OCC, Donohue spent more than two decades in global financial markets, most recently as CEO of CME Group from 2004 until 2012.
As part of the reshuffle, the equity derivatives clearing organisation has selected OCC CEO Andrej Bolkovic and Nasdaq鈥檚 president of European market services Roland Chai to join the board.
Bolkovic has more than 25 years鈥� experience in the global financial industry. Prior to joining OCC in 2022, he served as the CEO of Akuna Capital and its affiliated broker-dealer, Akuna 麻豆传媒.
From 2016-2020 he was the CEO of ABN AMRO Clearing Chicago, with overall responsibility for the broker-dealer and futures commission merchant activities of the firm.
Chai brings more than 20 years of experience in technology, risk management, trading and post trade across multiple asset classes, and replaces Meyer Frucher, now retired Nasdaq vice chairman.
In his current role, he leads Nasdaq麓s multi-asset trading, clearing, listings and market services businesses across Europe.
Commenting on the appointments, Donohue says: 鈥淲e welcome Andrej Bolkovic to the board as part of our transition to a non-executive chair governance structure. Since joining OCC in August 2022, Andrej has proven to be a highly effective CEO, and I look forward to continuing to work with him in leading OCC.
鈥淲e are also pleased to welcome Roland to our board, as he brings a wealth of knowledge in the global listed derivatives industry.鈥�
Bolkovic adds: 鈥淚 have confidence in our ability to help ensure OCC fulfils its mission of providing stability and market integrity through delivering our critical clearing and settlement capabilities to our clearing members, participant exchanges, and the greater investing public.鈥�
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