Options Clearing Corporation Board Shuffle
11 May 2010 Chicago
Image: Shutterstock
The Options Clearing Corporation (OCC) has announced that Craig Abruzzo and Valar Mihan were elected to the OCC Board of Directors. Additionally, Paul Brody was elected to the role of Vice Chairman and succeeds outgoing director Gary Yetman who completed his term at the end of April.
Abruzzo is currently head of Morgan Stanley's Listed Derivatives business in the Americas, responsible for the execution, clearing and servicing of client activities in exchange-traded derivatives across all asset classes.
Mihan is a Managing Director and head of Americas Equity-Linked Trading at Bank of America Merrill Lynch. In this role, he is responsible for the company's equity derivatives, convertible, quantitative and other equity-linked trading strategies in the region.
"It is a pleasure to welcome Craig and Val as the two newest members of OCC's Board of Directors. Their combined background and experience in the derivatives industry will further enhance our board," said Wayne Luthringshausen, OCC Chairman and Chief Executive Officer. "We also say goodbye and thanks to Gary Yetman, who was an active and valuable member of our board and welcome Paul Brody as his successor as Vice Chairman."
Brody is Chief Financial Officer of Timber Hill LLC and its parent company, Interactive Brokers Group (IBG LLC). He was appointed to the Board in May 2005 and then first elected to the Board in April 2006.
"Paul Brody has been a respected member of the Board over the last five years and we look forward to his new role as Vice Chairman as the Board continues to draw on his expertise and perspective," said Luthringshausen.
Abruzzo is currently head of Morgan Stanley's Listed Derivatives business in the Americas, responsible for the execution, clearing and servicing of client activities in exchange-traded derivatives across all asset classes.
Mihan is a Managing Director and head of Americas Equity-Linked Trading at Bank of America Merrill Lynch. In this role, he is responsible for the company's equity derivatives, convertible, quantitative and other equity-linked trading strategies in the region.
"It is a pleasure to welcome Craig and Val as the two newest members of OCC's Board of Directors. Their combined background and experience in the derivatives industry will further enhance our board," said Wayne Luthringshausen, OCC Chairman and Chief Executive Officer. "We also say goodbye and thanks to Gary Yetman, who was an active and valuable member of our board and welcome Paul Brody as his successor as Vice Chairman."
Brody is Chief Financial Officer of Timber Hill LLC and its parent company, Interactive Brokers Group (IBG LLC). He was appointed to the Board in May 2005 and then first elected to the Board in April 2006.
"Paul Brody has been a respected member of the Board over the last five years and we look forward to his new role as Vice Chairman as the Board continues to draw on his expertise and perspective," said Luthringshausen.
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