The Futures Industry Association (FIA) has named long-serving R.J. O’Brien chief executive Gerald Corcoran as its chairman after serving on the board for six years.
Corcoran will replace Barclays’ Michael Yarian as chairman of the US derivatives trade association, after the managing director moved to a new role at the bank as head of its rates trading franchise.
Corcoran arrived at RJO in in 1987 at chief financial officer before becoming chief operating officer at the brokerage in 1992.
He rose to CEO in 2000 and was also named chairman in 2007.
Along with his role at the FIA, he also serves on the board of the National Futures Association (NFA).
“On behalf of FIA and its member firms, I want to express our appreciation for his willingness to step forward and serve as our chairman,” said Walt Lukken, president and CEO.
“He’s been in this business for more than 25 years and I look forward to having the benefit of his leadership and counsel.”
The association also named two new board members in Jan Bart de Boer of ABN AMRO Clearing and Raymond Kahn who is a managing director, head of futures clearing, and head of agency derivatives services for the Americas at Barclays.
New York-based Kahn has worked at Barclays for six years across a number of derivatives focused roles, while de Boar overseas the sales and relationship management teams in the firm’s 12 global offices.
The FIA’s role in the derivatives market has been significantly heighted in recent years as the association has sought to assist in the smooth introduction of new rules governing the industry.