Bloomberg SEF compliance chief departs for Tradeweb 

New global head of compliance at Tradeweb has an extensive career in financial compliance most recently at Bloomberg’s SEF and JP Morgan.

The chief compliance officer for Bloomberg’s swap execution facility (SEF) has departed the firm to join trading platform provider Tradeweb as global head of compliance.

Devi Shanmugham joins Tradeweb after six years with Bloomberg, originally joining the firm in 2015.

Previously in her career, she was assistant general counsel at GFI Group for just over a year and assistant general counsel at JP Morgan for three years.

In her new role, Tradeweb said Shanmugham will be responsible for maintaining its relationships with regulators globally and fostering a culture of compliance at Tradeweb.

“Devi brings with her a breadth and depth of experience in some of the world’s most complex financial markets, and we are delighted to have her as part of the Tradeweb team,” said Scott Zucker, chief risk and administrative officer who Shanmugham will report directly to.

“With a network that includes clients in more than 65 countries and regulated trading platforms in North America, Europe and Asia, Tradeweb plays an increasingly important role as global markets become more electronified.” 

The appointment is the second senior new hire made by Tradeweb in the last few months after the former chief of BrokerTec Americas, Dan Cleaves, joined the firm as a managing director for its Dealerweb wholesale unit.

Earlier this year, Tradeweb acquired Nasdaq’s fixed income electronic trading platform for $190 million. Tradeweb’s wholesale clients on Dealerweb are now served by Nasdaq’s central limit order book for electronic trading in on-the-run US treasuries.