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OCC Names Stephen Luparello as Chairman, Succeeding Craig Donohue

via Business Wire

OCC, the world's largest equity derivatives clearing organization, today announced the appointment of Stephen Luparello as Chairman, succeeding Craig Donohue, who resigned to pursue another career opportunity.

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Stephen Luparello, Chairman, OCC Board of Directors

Stephen Luparello, Chairman, OCC Board of Directors

Mr. Luparello is a Public Director on OCC’s Board of Directors, most recently serving on the Compensation and Performance Committee (Chair) and the Regulatory Committee (Chair). He will serve as Chair for the remainder of Donohue’s term, which runs through April 2026.

Luparello’s impressive career in financial markets includes stints as Managing Director and General Counsel for Citadel Securities, and Director of the U.S. Securities and Exchange Commission’s Division of Trading & Markets. In addition, he spent 16 years at the Financial Industry Regulatory Authority (FINRA) where he served in a number of senior regulatory roles, including Vice Chairman.

On the appointment, Luparello said, “I am honored to serve as Chairman of the Board for OCC. It continues to be rewarding to serve alongside my fellow directors in this time of transformational change for OCC and across our industry. I look forward to continuing our work with OCC’s management team to elevate OCC’s resiliency and efficiency for the benefit of market participants and the investing public.”

“I want to recognize and thank Craig for his many contributions over the last decade in his roles as CEO and Chairman,” Luparello added “Craig initiated critically important efforts to enhance OCC’s financial, operational and technological foundations. He skillfully led the Board in thoughtful oversight during his many years of leadership. The Board and I congratulate him and wish him all the best.”

Andrej Bolkovic, OCC’s CEO and member of its board, said, “I am thrilled to welcome Steve as OCC’s next Chairman. Steve’s experience in both industry and regulatory roles allows him to bring a uniquely valuable perspective to our organization. We have benefitted greatly from his deep understanding of markets and the vital role that OCC plays. I look forward to continuing to work closely with him in his new role.”

“I also want to express my appreciation to Craig for his leadership," Bolkovic added. “Craig led a transformation effort here that was unprecedented, and which put us on the path to our next chapter of serving the industry and the investing public.”

About OCC

The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 20 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

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