Post-trade processor Omgeo has hired former JP Morgan prime services managing director Jeff Kiley as director of industry for the Americas, ahead of industry-wide changes to the post-trade environment, driven by regulatory shifts including the mandated central clearing of over-the-counter (OTC) derivatives under impending Dodd-Frank rules.
As part of his duties, Kiley will partner with the industry on various initiatives to drive efficiency and reduce risk in post-trade processes, such as the match-to-settle initiative currently being discussed by lobby group, the Securities Industry and Financial Markets Association.
Accelerating settlement cycles for US equities and fixed income from the current T+3 standard may also factor into his duties within coming years.
Tony Freeman, executive director of industry relations at Omgeo, said Kiley would bring industry know-how from some of the biggest market participants.
“Jeff’s experience will be instrumental to Omgeo’s success in driving the company’s strategy around key industry initiatives that increase automation and lower settlement risk.
“With a proven track record of results that span strategy, product, risk and credit, compliance, and technology, Jeff is uniquely positioned to help Omgeo promote meaningful industry change,” Freeman said.
Kiley has more than 25 years in the finance industry, and prior to working at JP Morgan, he held senior roles at Bear Stearns, Pershing/Bank of New York and SG Cowen.