Cboe Markets' Global President Dave Howson to Step Down

Cboe Global Markets announced the departure of its Global President, Dave Howson. After three years in Chicago steering the exchange operator’s global expansion, Howson plans to return to the UK.

Cboe confirmed that Howson will step down effective August 1, 2025. In his absence, Chief Executive Officer Craig Donohue will assume the additional title of President.

More Executive Realignment

At the same time, two senior executives, Cathy Clay and Chris Isaacson, will see their responsibilities broadened in a move the company says will strengthen focus and improve agility.

Clay, who serves as Executive Vice President and Global Head of Derivatives, will oversee Cboe’s Data Vantage business in addition to her derivatives role. Isaacson, currently Executive Vice President and Chief Operating Officer, will expand his remit to include Cash Equities , Global FX, and Clearing operations.

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“Cathy and Chris are highly respected leaders with a deep commitment to excellence in all they do. I have great confidence in their ability to continue driving innovation and growth in their respective business portfolios, and I look forward to working closely with them in their new roles, along with the rest of our deeply experienced executive leadership team,” commented Craig Donohue, Chief Executive Officer at Cboe Global Markets.

“Dave has played a pivotal role in Cboe's growth and global expansion during the last several years, and his contributions will have a lasting impact on Cboe,” he added. “On behalf of our entire organization, I wish him all the best in his next chapter.”

Shift in the Top Leadership

Both Clay and Isaacson are long-time Cboe leaders with deep experience across the exchange’s core operations.

Clay is reportedly credited with helping launch the Data Vantage business, which will now align more closely with derivatives under her purview.

Isaacson, whose expertise spans cash equities, FX, and risk management , will help drive the performance of these areas while supporting growth in data and clearing services. Howson’s exit marks the conclusion of Cboe's period of global expansion.