Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today announced changes and new appointments to its senior leadership to further support the company’s global growth strategy. These changes include the appointment of Catherine Clay to Global Head of Derivatives, a new role for the organization, and the promotion of Adam Inzirillo to Global Head of Data and Access Solutions.
“Continuing the growth and expansion of our global Derivatives business presents a tremendous opportunity for Cboe and is an area where we intend to continue sharpening our focus,” said Fred Tomczyk, Chief Executive Officer of Cboe Global Markets. “Today’s leadership appointments enable us to further leverage and expand our global footprint to deliver world-class products and services to our clients.”
In her new role, Clay, who was previously Global Head of Data and Access Solutions and Digital, will oversee Cboe’s global derivatives business, which includes futures and options markets in the U.S. and Europe, as well as a suite of globally traded proprietary products, including the popular S&P 500 Index options and VIX franchises. Clay will focus on further strengthening and building out Cboe’s global derivatives network and customer base.
Inzirillo, previously Head of North American Equities, will become Global Head of Data and Access Solutions, overseeing Cboe’s market data and access services, global indices, risk and market analytics and execution solutions services. Oliver Sung, previously Head of North America Execution Consulting for Cboe, will replace Inzirillo as interim Head of North American Equities.
“Cathy successfully led the global expansion of Cboe’s Data and Access Solutions business. Her track record at Cboe, coupled with her depth and breadth of experience in the trading industry and derivatives space specifically, make her the ideal leader to assume this new position,” said David Howson, Global President of Cboe. “Under Adam’s leadership, our Equities business brought many new client-driven solutions to the market. With Adam’s promotion, I’m excited to see the future innovations that are developed for our DnA business as we seek to meet global client demand for data and access solutions to our markets.”
Senior Leadership Team Biographies
Catherine Clay
Clay joined Cboe in 2015. In her most recent role as Executive Vice President, Global Digital and Data Solutions, she led the company’s efforts to align Cboe’s digital assets, data and analytics product suite and market data services with strategic objectives. Under Clay’s leadership, Cboe’s market data and access services, market and risk analytics, global indices and order and trade management offerings work in tandem, providing Cboe’s global client base with more efficient and streamlined access to the company’s full suite of data services and trading resources.
Clay began her career as a clerk in Interactive Brokers’ market-making unit, Timber Hill, and progressed to Lead Market Maker and Director of Floor Trading and Operations. In 2006, she left Timber Hill to co-found Thales LLC, a market-making firm on the NYSE Options Floor and on the OneChicago single stock futures exchange. She joined Livevol, Inc. in 2010 as Chief Strategy Officer. At the time of Cboe’s acquisition of Livevol in 2015, Clay held the position of Chief Executive Officer.
Adam Inzirillo
Inzirillo joined Cboe in 2019 as Senior Vice President and Head of U.S. Equities. Since 2020, Adam Inzirillo held the position of Senior Vice President, Head of North American Equities at Cboe Global Markets, Inc. (Cboe). Based in New York, Inzirillo is responsible for overseeing the product development and strategic growth of Cboe’s U.S. equities business, as well as Cboe’s Canadian equities trading venues, MATCHNow and the NEO Exchange. Inzirillo is defining markets by helping Cboe enhance its competitive positioning and its strategic growth efforts.
During his nearly 20 years in equities trading, Inzirillo has held a number of senior leadership positions in the industry. Prior to joining Cboe, he was Managing Director, Head of Order Routing and Execution Products at Bank of America Merrill Lynch (BAML), where he worked for nearly a decade. During his tenure, he expanded the firm’s liquidity offerings via business development and product management of its smart order router, direct market access, order management applications and non-displayed crossing functionality. Previously, Inzirillo was Executive Director, Head of Broker Dealer Business Development at UBS Securities LLC, where he managed the business development of broker dealers trading on the firm’s ATS and electronic trading platforms.
Oliver Sung
Sung joined Cboe in 2021 as Head of North American Equities Execution Consulting leading analysis of Cboe’s North American Equities business to help drive internal business growth and the development of new products. In this role, Sung also oversaw the creation of unique content for distribution to Cboe clients, providing comprehensive insight into Cboe’s products and services, as well as the North American equities markets in general.
Sung has more than 20 years of industry experience and has held several leadership positions in the electronic trading space. Prior to joining Cboe, he was Managing Director, Electronic Trading, Project Management at Cowen, where he where he helped manage various projects for the company’s electronic trading platform and service. Previously, Sung also held roles as Managing Director, Head of Electronic Execution at Convergex and Head of Americas Execution Consulting/Next Generation Algo Product Management at Bank of America Merrill Lynch.
Source: Cboe Markets
