CHICAGO Aug 27 CME Group Inc's
49-year-old chief financial officer will retire at the end of
the year and will be replaced by an executive who is a year
older, the world's largest futures exchange operator said on
Jamie Parisi, who has held the role of CFO for a decade,
will be replaced by his deputy, John Pietrowicz, 50, who has
worked for CME since 2003.
Parisi said in a statement issued by the company that the
decision to leave CME, which owns the Chicago Mercantile
Exchange and New York Mercantile Exchange, after 26 years was
He was well-known among investors and analysts as a
spokesman for Chicago-based CME's corporate strategy, which has
focused on overseas growth.
Asked about Parisi's reasons for retiring or his plans, a
CME spokeswoman said only that he was retiring.
The change will probably not affect CME's strategy because
Parisi is being succeeded by his deputy, said Gaston Ceron,
equity analyst for Morningstar in Chicago.
"He's certainly a go-to person, not only when you want to
know about CME but also the futures industry," Ceron said of
Earlier this year, CME increased Parisi's base salary to
$550,000 a year from $500,000. Pietrowicz's salary will be
disclosed after he assumes the CFO role, a company spokeswoman
Parisi told analysts on a conference call last month that
CME had "refocused" its teams on reducing expenses after weak
trading volumes resulted in lower-than-expected second-quarter
The futures industry, including exchanges, has suffered
repeated blows in recent years as new regulations have raised
operations costs and high-profile scandals at brokerages MF
Global and Peregrine Financial Group have shaken traders'
CME on Sunday suffered a four-hour trading halt on its
electronic trading platform due to a technical problem.
(Reporting by Tom Polansek; Editing by David Gregorio)