Former BofA director joins Broadridge to oversee derivatives clearing product management

New global product manager of derivatives clearing previously spent 30 years at Bank of America.

A former Bank of America derivatives specialist has joined Broadridge Financial Solutions to head up the product management of its derivatives clearing business globally.

Mike Johnson joins Broadridge after serving at Bank of America for over 30 years, spending half of that tenure in exchange-traded derivatives and 10 years in repo trading.

Originally joining the bank in 1989, Johnson held several roles, most recently operating as director, global chief operating officer, head of collateral management and business development for futures and options and over the counter (OTC) derivatives clearing for four years.

Since leaving Bank of America in 2016, Johnson founded Genesis Consulting and Solution Services, providing operational outsourced services to financial services clients including Broadridge.

In his new role at Broadridge, Johnson will be responsible for the growth of its global cleared derivatives platform and maintaining strategic partnerships.

“His [Mike Johnson’s] extensive experience and knowledge of the cleared derivatives space will enable us to continue delivering Broadridge’s industry leading solutions along with customer service of the highest standard,” says Danny Green, general manager of post-trade solutions at Broadridge International.

Johnson’s appointment follows several other recent senior new hires made by Broadridge after it appointed Ted Bragg and Jim Kwiatkowski, formerly Nasdaq and London Stock Exchange respectively, to its AI-driven digital trading platform for corporate bonds, LTX, earlier this month.

Bragg and Kwiatkowski will work with the platform’s chief, Jim Toffey, to drive digitisation in the corporate bond market.