People Moves: WFE, MSCI, Broadway Technology, Tora and more

WFE elects new directors of the board, Cboe’s Ed Tilly to serve as chairman

Cboe Global Markets chairman, president and chief executive officer Ed Tilly has been appointed chairman of the World of Federation of Exchanges, the global industry group for exchanges and clearinghouses around the world. Tilly was previously vice chairman of the WFE from 2018 to 2021.

As chairman of the WFE, he will work with WFE chief executive Nandini Sukumar and board and members to advance the organization’s mission to foster well-functioning capital markets, reinforce systemic stability, support developing markets,  creates best practices and standards for the industry, and educate on the role exchanges and clearinghouses play in the global economy. Tilly was elected by the WFE membership during its 60th annual meeting, hosted by the Shenzhen Stock Exchange, which was held virtually. 

Ten directors of the board were elected alongside Tilly. They are:

Boon Chye Loh, CEO, Singapore Exchange - Vice Chairman

Jos Dijsselhof, CEO, SIX Group - Working Committee Chairman

Gilson Finkelsztain, CEO, B3 (Brasil Bolsa Balcao) - Director, Americas region

Edward Knight, Vice Chairman, Nasdaq - Director, Americas region

Laura Cha, Chairman, Hong Kong Exchanges and Clearing - Director, Asia-Pacific region

Vikram Limaye, Managing Director & CEO, National Stock Exchange of India - Director, Asia-Pacific region

Korkmaz Ergun, CEO, Borsa Istanbul  - Director, EMEA region

Oscar Onyema, Group CEO, Nigerian Exchange Group - Director, EMEA region

Khalid Abdullah Al Hussan, CEO, Saudi Tadawul Group - Director, EMEA region

The WFE represents more than 250 market-infrastructures ranging from those that operate the largest financial centers to those that run frontier markets. Of its members, 37 percent are spread across the Asia-Pacific region, 43 percent in Europe, Middle East and Africa, and 20 percent are the Americas. Members include over 50 distinct CCP clearing services, among them stand-alone CCPs. WFE exchanges are home to 47,919 listed companies, and the market capitalization of these entities is over $109 trillion.

MSCI recruits Melissa McDonald as new global head of ESG and climate indexes

MSCI, a provider of critical decision support tools and services for the global investment community, has appointed Melissa McDonald as global head of ESG and climate indexes. In this role, she will closely collaborate with the global product, client coverage, research, and technology teams across the organization to ensure MSCI’s product offering aligns and evolves with investor needs around the world.

McDonald joins MSCI with over three decades of experience in investment management and sustainable investment. She previously served as global head of product, equities, and responsible investment at HSBC Global Asset Management. Prior to this, she held various senior leadership roles at AXA Investment Management, including as global head of responsible investment, in which she led the development of research in climate change, human capital management, and corporate governance.

Based in London, McDonald will report to Diana Tidd, global head of index and chief responsibility officer, and Remy Briand, global head of ESG and climate.

Tora expands in UK with new hires

Tora, a provider of cloud-based order and execution management and portfolio management systems, has announced an expansion of its UK presence with the opening of a London office and new hires, Peter Rank and Chris Hopton. Rank has been brought on as a manager of European sales, and Hopton as a professional services manager.

Rank joins Tora from AxeTrading, where he worked with clients across Europe. He will report to David Tattan, head of European sales, and be responsible for driving new client acquisition for Tora’s software solutions. Hopton joins Tora from TradingScreen, where he was a senior account manager responsible for delivering fund solutions to clients.

LPA Group adds new partner in Swiss practice

LPA Group, developers and consultants for technology-based capital market solutions, has announced Nourdine Abderrahmane will join the firm as a new partner in its Swiss consulting practice.

Abderrahmane will be based in Zurich, Switzerland, and will work to grow the Swiss consulting practice across its team, clients, and solutions. He will work closely with the wider group of LPA consultants and software developers on the ground and across Europe. His mandates will center on helping clients gain increased efficiency through technology, developing novel approaches for reporting and risk management related to sustainable investing, and ensuring an individual approach is taken to client relations. 

Abderrahmane leaves Capco, where was managing principal and lead of its retail banking practice in Switzerland. He has also held consulting roles at Accenture within its private banking and capital markets practice and has held prior posts at Credit Suisse and UBS.

Broadway Technology appoints Dan Romanelli head of relationships

Broadway Technology, a provider of high-performance front-office solutions, has appointed Dan Romanelli as head of relationships. In his role, Romanelli is responsible for driving business development initiatives and client relationship management, overseeing a global team of sales and relationship managers.

He joins Broadway from USAM Group, a sales and marketing agency that helps young firms grow and hone their businesses, where he served as co-founder and chief strategy officer. Prior to USAM Group, Romanelli worked as a senior consultant for Delta Risk LLC, and past tenures include vice president of NYSE Euronext and vice president of Merrill Lynch.

Ray Bencheikh departs CME for Fenics

Ray Bencheikh has joined Fenics Market Data Group, a division of BGC Partners, as global head of data operations, The Trade reported. He was previously with CME Group, where he managed Nex Group data operations and quality assurance teams globally. CME purchased Nex for $5.4 billion (£3.9 billion) in 2018.