Hans–Ole Jochumsen to Lead Combined U.S. and European Transactions, Clearing and Settlement Businesses
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) today announced the formation of Global Market Services, a new entity comprising NASDAQ OMX transactions, clearing and settlement services in the U.S. and Europe. Hans–Ole Jochumsen, Executive Vice President, has been appointed to lead the newly combined global business, reporting directly to Chief Executive Officer Bob Greifeld.
NASDAQ OMX’s European and U.S. market services businesses will report to Mr. Jochumsen. The newly created entity will facilitate global growth and expansion of the company’s cash and derivatives business within equities as well as fixed income, currencies and commodities (FICC), and enable greater customer focus, product development and technology synergies.
“As markets have become increasingly global in asset classes like fixed income, currency and commodities and in the OTC clearing space, we believe it is an opportune time to structure our transaction business in such a way that takes advantage of these opportunities,” said Bob Greifeld, Chief Executive Officer of NASDAQ OMX. “Hans-Ole has exhibited tremendous leadership, and his background and experience spans virtually every asset class. His global perspective and outstanding track record will help take our transaction businesses to the next level.”
NASDAQ OMX has pursued a strategy of global diversification over the last year, reorganizing its businesses to form new entities that enable investors to better understand and compare its business to peers. Most recently, NASDAQ OMX combined data and indexing to form Global Information Services. Similarly, market technology and corporate solutions were combined to form Global Technology Solutions.
“We’ve successfully integrated trading and clearing of all our asset classes at all our Nordic and Baltic exchanges to one technology platform to allow true multi-asset trading and clearing,” said Hans-Ole Jochumsen, Executive Vice President and Head of Global Market Services at NASDAQ OMX. “With the fixed income, currency and commodities markets becoming increasingly global, I’m thrilled to make NASDAQ OMX the world leader in creating a truly integrated global offering in these areas.”
Mr. Jochumsen previously oversaw NASDAQ OMX’s Transaction Services Nordic business which provides an integrated marketplace of eight independent Nordic and Baltic exchanges as well as trading and clearing (for derivatives and OTC) of Nordic and Baltic securities.
Jochumsen is also responsible for NASDAQ OMX Commodities, the global commodities business unit within the company, encompassing among other things the trading and clearing of financial products on the world's largest power exchange.