CHICAGO--(BUSINESS WIRE)--OCC, the world's largest equity derivatives clearing organization, today announced the hire of David Ye as Chief Risk Officer and a member of OCC’s Management Committee. With over 20 years of leadership experience in financial and operational risk management, including executive positions at State Street Global Markets and Nomura Holding Americas, Ye will be responsible for implementing OCC’s risk management strategy.
“We are very pleased to welcome David to OCC’s risk leadership team,” said John Davidson, OCC Chief Executive Officer. “This appointment demonstrates our continued ability to attract top talent to support our mission and further enhance our resiliency as a critical market infrastructure."
"As a Systemically Important Financial Market Utility, OCC provides vital stability and risk management to the U.S. listed options markets," said Scot Warren, OCC Chief Operating Officer. "David’s expertise will help OCC further strengthen our risk management capabilities as we continue to enhance our services to market participants."
Ye is an Executive in Residence at Duke University. Before joining OCC, he also served in a variety of leadership roles including Chief Risk Officer at Guardian Life Insurance of America, Chief Risk Officer at State Street Global Markets and Global Exchange, and Chief Risk Officer at Nomura Holding Americas.
Ye started his financial services career as a senior asset and liability analyst at PNC Financial Services Group, later advancing ultimately to Chief Market Risk Officer for PNC Group. Ye received a bachelor’s degree in mathematics from Fudan University in China and a Ph.D. in mathematics from Duke University. He is a CFA Charterholder.
Ye will replace John “J.J.” Fennell, who will be leaving OCC on July 2 to pursue a new opportunity.
Craig Donohue, OCC Executive Chairman, added, “On behalf of our Board of Directors and Management Committee, I want to thank J.J. for the many contributions he brought to OCC during his tenure, including our efforts to strengthen OCC’s overall operational resiliency as well as enhancing the efficiency and effectiveness of our Enterprise Risk Management, Model Risk Management, Security Services, Business Continuity and Third-Party Risk Management teams. We wish J.J. the best of luck in all his future endeavors.”
About OCC
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2020 Best Clearing House - Equities by Markets Media for the third consecutive year, OCC now provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms for options, financial futures, and securities lending transactions. More information about OCC is available at www.theocc.com.
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