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CME Group, the world's largest and most diverse derivatives marketplace, today announced several new senior leadership appointments to its Legal & Regulatory Team. Ann K. Shuman, Managing Director & Deputy General Counsel, has been promoted to an expanded role that will include legal support for regulatory policy initiatives and key growth activities. Shuman will continue reporting to Kathleen Cronin, Managing Director, General Counsel and Corporate Secretary. Additionally, CME Group appointed Christopher K. Bowen as Managing Director, Chief Regulatory Counsel, and named Timothy W. Smith as Managing Director & Associate General Counsel. Both Bowen and Smith will report to Shuman.
"CME Group remains committed to enhancing our financial markets by working with both domestic and international regulators and our own expanded team of regulatory policy experts," said Cronin. "With these new roles announced today for Ann, Chris and Tim, we will continue to work closely with the CFTC, Congress and our industry to ensure the integrity of our markets so that market participants around the world can continue to access the benchmark products and clearing services needed for global risk management."
In her expanded role, Shuman, 41, who has been with CME Group since 2000, will be responsible for leading the company's legal function with respect to regulatory policy. Additionally, she will continue to oversee legal support for new business transactions, including negotiating and constructing strategic investments, partnerships and M&A activity. Shuman has served as Managing Director and Deputy General Counsel of CME Group since July 2007. She previously served as Managing Director, Corporate Development, where she was responsible for developing and negotiating key strategic partnerships. Shuman has been instrumental in completing many complex commercial transactions and joint ventures, including CME's historic commercial agreements with CBOT for clearing and NYMEX for electronic trade matching, CME's alliance with BM&FBOVESPA, and the company's license agreements with The Nasdaq Stock Market, Inc. and Standard & Poor's. Before joining the company, Shuman worked as an Associate in the Derivatives and Investment Products Group of Sidley & Austin in Chicago. She holds a bachelor's degree in English from Trinity University in San Antonio, Texas and a J.D. from the University of Chicago Law School.
Bowen, 48, a 20-year veteran of the futures industry, will be responsible for overseeing the company's domestic and international regulatory activities, including the development of new regulatory initiatives to support the recently announced CME Clearing Europe. Bowen, who has been working with CME Group in a transitional capacity following the acquisition of NYMEX, most recently served as General Counsel and Chief Administrative Officer of NYMEX. During his 15-year NYMEX tenure, he held a number of key positions including Senior Vice President and General Counsel, and Associate General Counsel. Bowen was instrumental in transitioning NYMEX to a public company and in building the NYMEX regulatory practice, as well as developing key strategic business partnerships including the Dubai Mercantile Exchange. He also held legal and regulatory roles with Morgan Stanley & Co. and the CFTC Division of Trading and Markets. Bowen holds a bachelor's degree in political science from Columbia University and a J.D. from the University of Maryland School of Law. He is a member of the Committee on Futures Regulation of the New York City Bar Association.
Smith, 39, will be responsible for structuring and negotiating the company's transactions including joint ventures, acquisitions and complex service agreements. Prior to joining the company, Smith served as a Partner in the Corporate Department at Winston & Strawn LLP in Chicago, where one of his primary areas of focus was representing purchasers and sellers in complex acquisition, divestiture, merger and corporate restructuring transactions. He also worked as an Associate in the Corporate Finance Department at Chapman & Cutler. He holds a bachelor's degree in accounting from Purdue University and a J.D. from the Columbia University School of Law.
