CME Group, a US derivatives exchanges operator, has chosen Tim McCourt to lead its financial and over-the-counter products division as Senior Managing Director.
The retirement of Sean Tully, Senior Managing Director of Interest Rates and OTC Products, will become effective on 2 June 2023. A new appointment to fill this position will be made soon.
CME Group Chairman and Chief Executive Officer, Terry Duffy, said:
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 back in 2013 and has been its Global Head of Equity & FX Products since February 2022. In his new role, he will oversee all of the company’s interest rates, equity index, foreign exchange, cryptocurrency futures and options markets, as well as its BrokerTec cash treasuries platform and EBS spot FX platform.
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