CHICAGO--(BUSINESS WIRE)--OCC, the world’s largest equity derivatives clearing organization, today announced that David Hoag, a technology executive with nearly 25 years of information systems and development experience, will join OCC as Senior Vice President and Chief Information Officer, effective May 1st. Hoag, who will report to John Davidson, OCC’s new President and Chief Operating Officer, succeeds Luke Moranda, who becomes Senior Vice President and Senior Information Technology Advisor to the President and COO.
“I am very pleased that David Hoag will join our technology leadership team,” said Craig Donohue, OCC Executive Chairman and Chief Executive Officer. “OCC must continue to cultivate confidence in our resiliency while simultaneously meeting the needs of market participants with cost-effective solutions. David can build upon the progress and momentum created by Luke Moranda and our IT team to help ensure that OCC has the technology infrastructure in place to assess the ability to meet the evolving needs of our clearing members while also meeting the heightened expectations of global regulators.”
Donohue added, “As our Senior IT Advisor, Luke will focus on OCC’s future state IT capabilities, including modernizing and improving our software development life cycle processes. I have great confidence in Luke’s ability to deliver outstanding results in this new role, given his background and experience.”
Before joining OCC, Hoag served as the Chief Technology Officer for Halo Investing, Inc., which developed and now offers a pre-defined market return trading platform for investors. Previously, Hoag was Chief Technology Officer for NextTier Education, a web and mobile-based post-secondary readiness platform that delivers critical information on every two and four-year college in the U.S. Hoag also spent 11 years with CME Group, most recently leading their information technology development teams responsible for all of its clearing and settlement activities.
Hoag holds a Master of Business Administration from Northwestern University Kellogg School of Management, and a Bachelor of Science degree in Computer Science from the University of Illinois.
OCC is the world's largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2016 Clearinghouse of the Year - The Americas by FOW Magazine and 2016 Clearinghouse of the Year by Global Investor/ISF Magazine, OCC now provides central counterparty (CCP) clearing and settlement services to 20 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.