CME Group has appointed Citigroup veteran Vijay Albuquerque as Chief Risk Officer for its Clearing division.
He brings extensive experience in market risk management to the derivatives marketplace operator.
CME Group (NASDAQ: CME) has appointed Vijay Albuquerque as Chief Risk Officer for its Clearing &
Post-Trade Services Division, the company announced today (Thursday).
Albuquerque
joins CME Group after more than two decades at Citigroup, where he most
recently served as Managing Director and Head of Counterparty Risk and
Portfolio Risk Analytics for the bank's Markets and Banking businesses.
CME Group Names Vijay
Albuquerque as New Chief Risk Officer
Albuquerque
brings extensive risk management experience to the role. At Citigroup, he
oversaw the firm-wide stress testing platform across derivatives, financing and
lending products, while managing counterparty exposure and funds credit
underwriting.
Previously,
he served as Global Head of Risk for Citi's Futures & OTC Clearing
Business, where he managed counterparty risk, regulatory capital and liquidity
risk.
“After two decades at Citi, I’m happy to share that I have started a new position as Chief Risk Officer (CRO) at CME Group,” Albuquerque commented. “CME is at the forefront of financial product innovation and industry-leading risk management and I look forward to working with a talented team at CME.”
Based in
New York, he will report to Suzanne Sprague, CME Group's Chief
Operating Officer and Global Head of Clearing.
Suzanne Sprague, Chief Operating Officer & Global Head of Clearing at CME Group
“Vijay's
deep expertise in both derivatives and securities markets will be invaluable as
we continue to deliver leading risk management services to our clients,”
Sprague said in a statement.
His career
at Citigroup spanned multiple positions over 20 years, including roles as
Senior Vice President and Credit Officer for hedge funds. Prior to joining
Citigroup, Albuquerque worked at Oracle for five years as a Senior Project
Leader.
CME Group
operates the world's leading derivatives marketplace, offering trading in
futures, options, cash and over-the-counter markets. The company's exchanges
provide trading platforms for interest rates, equity indexes, foreign exchange,
energy, agricultural products and metals.
Revenue Hits Record $1.6 Billion
The
appointment comes as CME Group reports strong financial performance. The
company recently announced record first-quarter results, with revenue reaching
$1.6 billion amid increased client hedging activity across all asset classes.
Operating income rose to $1.1 billion, while net income reached $956 million,
or $1.0 billion on an adjusted basis.
Foreign
exchange trading has been particularly robust, with daily FX volumes averaging
1.15 million contracts in the first quarter, representing a 16.8% increase
compared to the same period last year.
The
company's cryptocurrency derivatives segment has shown even more visible growth. Trading volumes surged nearly 60% in March alone, with the exchange
reporting $11.3 billion in notional value for its crypto derivatives products.
This growth has been primarily driven by micro Bitcoin and Ethereum futures
contracts
CME Group (NASDAQ: CME) has appointed Vijay Albuquerque as Chief Risk Officer for its Clearing &
Post-Trade Services Division, the company announced today (Thursday).
Albuquerque
joins CME Group after more than two decades at Citigroup, where he most
recently served as Managing Director and Head of Counterparty Risk and
Portfolio Risk Analytics for the bank's Markets and Banking businesses.
CME Group Names Vijay
Albuquerque as New Chief Risk Officer
Albuquerque
brings extensive risk management experience to the role. At Citigroup, he
oversaw the firm-wide stress testing platform across derivatives, financing and
lending products, while managing counterparty exposure and funds credit
underwriting.
Previously,
he served as Global Head of Risk for Citi's Futures & OTC Clearing
Business, where he managed counterparty risk, regulatory capital and liquidity
risk.
“After two decades at Citi, I’m happy to share that I have started a new position as Chief Risk Officer (CRO) at CME Group,” Albuquerque commented. “CME is at the forefront of financial product innovation and industry-leading risk management and I look forward to working with a talented team at CME.”
Based in
New York, he will report to Suzanne Sprague, CME Group's Chief
Operating Officer and Global Head of Clearing.
Suzanne Sprague, Chief Operating Officer & Global Head of Clearing at CME Group
“Vijay's
deep expertise in both derivatives and securities markets will be invaluable as
we continue to deliver leading risk management services to our clients,”
Sprague said in a statement.
His career
at Citigroup spanned multiple positions over 20 years, including roles as
Senior Vice President and Credit Officer for hedge funds. Prior to joining
Citigroup, Albuquerque worked at Oracle for five years as a Senior Project
Leader.
CME Group
operates the world's leading derivatives marketplace, offering trading in
futures, options, cash and over-the-counter markets. The company's exchanges
provide trading platforms for interest rates, equity indexes, foreign exchange,
energy, agricultural products and metals.
Revenue Hits Record $1.6 Billion
The
appointment comes as CME Group reports strong financial performance. The
company recently announced record first-quarter results, with revenue reaching
$1.6 billion amid increased client hedging activity across all asset classes.
Operating income rose to $1.1 billion, while net income reached $956 million,
or $1.0 billion on an adjusted basis.
Foreign
exchange trading has been particularly robust, with daily FX volumes averaging
1.15 million contracts in the first quarter, representing a 16.8% increase
compared to the same period last year.
The
company's cryptocurrency derivatives segment has shown even more visible growth. Trading volumes surged nearly 60% in March alone, with the exchange
reporting $11.3 billion in notional value for its crypto derivatives products.
This growth has been primarily driven by micro Bitcoin and Ethereum futures
contracts
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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