CBOT® President and CEO David J. Vitale said, "Mary has done an excellent job in managing our side of the CBOT®/Eurex Alliance, and was instrumental in the CBOT®'s achieving a successful transfer of the market supervision function for our a/c/e electronic trading platform from Frankfurt back to Chicago. She will continue to play an integral role in our efforts to provide an efficient electronic market that best serves the needs of our members and customers."
In May 2000, McDonnell joined the CBOT® as Managing Director and Project Manager of the Alliance, and was promoted to Vice President in July 2000. Previously, she had served as a consultant to the joint venture after many years of experience in the U.S. futures industry. McDonnell previously worked as Executive Vice President of the Bermuda Commodities Exchange from 1997 to 1999. From 1979 to 1996, she was the Chief Financial and Operating Officer of Griffin Trading.
The CBOT® also announced the heads of the three other new business units at the Exchange. Bryan T. Durkin, Senior Vice President and Administrator, Office of Investigations and Audits, now assumes responsibility for the management of the open outcry business unit and will report to Mr. Dan. An 19-year employee, Durkin was named Senior Vice President of OIA in February 2000, where he was responsible for ensuring the market integrity of all members and member firms, employing computerized programs to monitor and enforce financial and trade practice compliance with CBOT® rules and regulations. Durkin also managed the business implementation and deployment of the Exchange's order routing system which is designed to enhance the efficiency and effectiveness of the CBOT®'s open outcry market.
Philip F. Hannigan, Senior Vice President of Real Estate Operations, will manage the CBOT®'s real estate business unit and report to Carol Burke, Executive Vice President and General Counsel. Hannigan joined the CBOT® in 1983 when the Exchange assumed leasing and maintenance control of its own building. He was Vice President of Real Estate Operations from 1984 to 1995 before being promoted. Today, as head of CBT Corp., Hannigan is responsible for managing the operations of the CBOT®'s three buildings and leasing of over 1.5 million square feet of office space.
Thomas S. Cargie, Vice President of Market Data Services, will be responsible for the Exchange's data services division, and will report to newly appointed Executive Vice President William Farrow. Cargie was promoted to Vice President in July 2000 after serving as a senior attorney in the CBOT®'s legal department. The Market Data Services Department manages relationships with the Exchange's market data vendors, and represents the CBOT® in the information services community.
Vitale commented, "Our organizational review has resulted in the creation of four new business units that will lead to a more streamlined operational structure, a more efficient use of our human and financial resources, and a more effective decision-making process. Mary, Bryan, Phil and Tom already have demonstrated on numerous occasions their ability to produce results, and they are extremely capable of managing these respective business units and adding value to the Exchange."
For more information on the CBOT®, please go to the Exchange's web site at www.cbot.com.
