Peter Williams, the former global head of futures and options clearing and execution at State Street, has joined French bank Credit Agricole, The TRADE Derivatives understands.
Williams departed State Street in May after the custodian announced it would shut down its global futures clearing (FCM) unit.
At the time of the announcement in March, it said around 50 employees will be impacted globally by the decision to withdraw from the clearing business.
He joined Credit Agricole on 12 December, according to his Linkedin profile, as a senior banker within its financial institutions group (FIG).
A spokesperson for Credit Agricole had not responded at the time of publication.
The majority of State Street’s FCM business leaders have now departed the bank. The most recent was Ian Murphy, a managing director and senior futures salesman, who joined CurveGlobal within its business development team in November.
In addition Scott Bevier, State Streets former head of the US FCM business, joined JP Morgan’s custody and fund services business in July.
Prior to joining State Street in 2013, Williams was head of financial products at Marex Spectron.