Paul Davies, Goldman Sachs managing director and head of futures services for Asia, is set to retire after serving 23 years at the bank.
He will be replaced by James Busby, Goldman Sachs’ current head of futures sales trading in Japan, who will run the bank’s futures business in the Asia-Pacific region.
Davies has also stepped down from his role as chairman of FIA Asia’s Regulatory Advisory board.
He joined Goldman Sachs in 1992 in London, following six years at Hill Samuel Bank. He then moved to Singapore in 1996 and was named managing director in 2007.
His responsibilities included managing the bank’s futures clearing and execution sales team, product development and exchange relationships.
Davies was appointed head of the trade body in October 2015 after Connor Cunningham, Citi’s former head of futures, clearing and collateral for Asia Pacific, resigned following his departure from the bank.
Davies has been replaced by David Martin, JP Morgan’s head of futures, options and OTC clearing for Asia Pacific, as head of the trade body’s regulatory board.
“I am very pleased to have David come on board,” said Bill Herder, head of Asia for FIA. “His knowledge and experience will be invaluable to our mission in the Asia-Pacific region. I also want to thank Paul for all the advice, support and commitment he gave to FIA throughout his tenure as chairman.”