US derivatives exchanges operator CME Group has announced the appointment of Tim McCourt in an expanded role as Senior Managing Director, Global Head of Financial & OTC Products.
The new appointment follows the retirement of Sean Tully, Senior Managing Director, Interest Rates and OTC Products, which will take effect on 2 June 2023.
CME Group Chairman and Chief Executive Officer Terry Duffy said:
Terry Duffy
We appreciate the leadership Sean provided over the past decade for our financial products businesses, which included the successful migration to SOFR derivatives that now serve as the leading tool for hedging short-term interest rates. We are fortunate to have Tim McCourt, who has extensive experience across financial products, to lead these important business lines that allow our clients to manage risk in key asset classes.
McCourt joined CME Group in 2013 as Executive Director, Equity Index Products and has served as Global Head of Equity & FX Products since February 2022. In his new role, he will oversee the company’s interest rates, equity index, foreign exchange and cryptocurrency futures and options markets. Additionally, he will be responsible for the company’s BrokerTec cash treasuries platform and EBS spot FX platform.
