December 2, 2016 / 8:15 PM / 3 years ago

Options Clearing Corp shakes up senior management

CHICAGO, Dec 2 (Reuters) - The primary clearinghouse for U.S. options trades named a new chief financial officer and chief compliance officer on Friday in a C-suite shake-up it said was aimed at improving its management culture.

OCC, or the Options Clearing Corp, also said it had created a new treasurer’s position and hired a CME Group Inc executive to fill it.

The overhaul “strengthens the breadth and depth of experience we believe is necessary to strengthen OCC’s financial management and risk governance culture,” Chief Executive Officer Craig Donohue said in a statement.

Donohue became OCC’s executive chairman in 2014 and later took on the role of CEO, following reports in 2013 that the U.S. Securities and Exchange Commission had criticized regulatory compliance, governance and risk management at the company.

OCC said Amy Shelly, a former CFO for trading firm Optiver U.S., will replace Kimberly McGarry as its new CFO on Monday. McGarry also joined OCC in 2014, according to the company’s website.

Effective immediately, OCC’s deputy general counsel, Joe Adamczyk, will become chief compliance officer, the statement said. He replaces Richard Wallace, who joined the company in December 2013.

OCC said James Pribel, formerly CME’s treasurer, would immediately fill the new position of first vice president of Treasury.

Donohue was formerly a chief executive at CME. (Reporting by Tom Polansek; Editing by Sandra Maler)

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