Finbarr Hutcheson is to become sole CEO of regulated derivatives exchange NYSE Liffe following the departure of co-CEO Mark Ibbotson.
Ibbotson, who was responsible for exchange trading, clearing and regulation and was also global head of clearing for NYSE Liffe, has decided to leave the firm to pursue other opportunities following the transition of clearing operations to ICE Clear Europe.
Hutcheson was co-CEO with responsibility for commercial and business development, but will now be the sole CEO bringing Liffe into line with more traditional exchange management structures.
Duncan Niederauer, CEO of NYSE Euronext, said: “On behalf of NYSE Euronext and the Liffe board, I would like to thank Mark for the major contributions he has made to our company and the industry over the past two decades.
“Mark has led much of the innovation at Liffe, has mentored many of his colleagues, has represented us on a number of industry initiatives, is well respected by our clients and the regulators and Liffe’s successful migration to ICE Clear is the most recent of a long career replete with similar accomplishments.”
IntercontinentalExchange (ICE) recently received approval from European Union regulators to acquire NYSE Euronext. It has signaled its intention to sell off Euronext though will keep the UK Liffe derivatives business.
In addition to appointing Hutcheson as sole CEO, Andrew Doddsworth, executive director of market services, will join the Liffe board.