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The Futures Industry Association today issued the following statement in response to the announcement by the CME Group that Craig Donohue will step down as chief executive officer in December:
"Craig is the epitome of the new generation of exchange leaders that came of age during the demutualization wave and the globalization of the exchange business," said John Damgard. "Under his leadership, the CME transformed itself into a professionally managed, shareholder-responsive organization that set the standard for the industry. He's been a tremendous asset to this industry and to the FIA, and I wish him the best of luck in the next stage of his career."
"Phupindar Gill is one of the most knowledgeable and experienced exchange executives in the business," said Walt Lukken. "He knows the CME inside and out, and I have every confidence that the CME will continue to thrive under his leadership. I also congratulate Terry Duffy on his expanded role as executive chairman and president. I look forward to working with Terry and Gill on a wide range of issues of common interest to our industry."
The FIA is the primary industry association for centrally cleared futures and swaps. Its membership includes the world’s largest derivatives clearing firms as well as exchanges and clearinghouses from more than 20 countries. The FIA seeks to promote best practices and standardization in the cleared derivatives markets, provide policymakers with an informed perspective on the derivatives markets, and advocate for the interests of its members, its markets and its customers. The FIA strives to protect open and competitive markets, protect the public interest through adherence to high standards of professional conduct and financial integrity, and promote public trust and confidence in the cleared markets.
