Global derivatives marketplace, CME Group, has appointed veteran executive Paul Houston as its newest Executive Director and Global Head of Foreign Exchange (FX) with immediate effect, according to a CME statement.
In his new role Mr. Houston will be be based out of London where he will be tasked with overseeing the development, execution, and management of the exchange’s FX business globally. In this capacity he will be reporting to Sean Tully, the group’s Senior Managing Director, Financial and Over-The-Counter (OTC) Products.
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Mr. Houston joins CME Group from Deutsche Bank, having worked at the lender for almost four years in multiple roles – these include stints as its Global Head FX Clearing and European FX Prime Brokerage (FXPB) as well as its Europe, Middle East, and Africa (EMEA) Head – FXPB and OTC Clearing, dating back to 2012.
Additional stops also include Credit Suisse and the Royal Bank of Scotland (RBS), part of a lengthy career spanning eighteen years. He has held senior level roles at both these latter institutions, all of which have been relegated to the FX space, according to information made public on his Linkedin profile.
According to Mr. Tully in a recent statement on the appointment: “We are pleased to welcome Paul to CME Group/ His experience working in senior management roles in FX businesses at major dealers will complement our FX business at CME. He has a demonstrable track record of exceptional client service and business development, and will be a real asset to the business as we look to expand our footprint globally.”