Michael Clarke brings to SunGard 15 years of expertise in the collateral management business. He is also a founder and current co-chair of the Collateral Committee of the International Swaps and Derivatives Association (ISDA). Mr. Clarke was most recently the group vice president of Cygnifi Derivatives Services LLC, where he was responsible for the creation of the Trinity legal information service, which provided a unique body of research and analysis on the legal risks inherent in cross-border collateralization. He was also responsible for Cygnifiâs CollateralManager, an on-line service for collateral management, and supervised the firmâs collateral consulting practice.
Prior to Cygnifi, Mr. Clarke spent more than 13 years at J.P. Morgan & Co, where he was global head of collateral, responsible for the 70-strong team managing the firmâs portfolio of over 1500 collateralized counterparties, over 100,000 transactions, and in excess of $22.5 billion of collateral. Mr. Clarke developed J.P. Morganâs collateral business, including the development of specialized collateral technology and the invention of innovative cross-margin products such as collateral optimization.
Michael DeMaise joins SunGard from Enron Broadband Services, where he was director, European network engineering and operations. In that role, Mr. DeMaise was responsible for assembling and operating the European broadband network and developing and implementing the European IP transit / transport service for Enron. Prior to Enron, Mr. DeMaise spent 12 years at the National Aeronautics and Space Administration at the Johnson Space Center in Houston, Texas. There he negotiated US/Russian Spacewalk technical and policy issues, managed the US space suit development program and assisted in the development of an innovative space operations business plan.
As vice president of product development at SunGard, Mr. DeMaise will apply the project planning and management expertise he gained at the Johnson Space Center and Enron to the development process for SunGardâs energy solutions.
Jim Ashton, chief executive officer of SunGard Trading and Risk Systems, said, "At SunGard we recognize that our people are one of our most important resources. Hiring top quality executives is an important part of our growth strategy for energy and collateral, two business areas to which we are extremely committed."