European clearing house EuroCCP has appointed David Hatton as the firm’s new Chief Technology Officer (CTO) as per the announcement made by the firm yesterday. He is replacing Albert Jan Huizing as CTO but will work in co-capacity as CTO until Albert resigns from the post at end of June to ensure a smooth transition.
Albert has been with EuroCCP since it was founded in 2007 making him one of the oldest employees of the firm. While Albert’s resignation is going to create quite a big void to be filled, David is a really good replacement to fill the gap given his experience of over two decades in the financial service sector. In his role as CTO at EuroCCP, David is responsible for setting the clearing house’s IT strategy and will oversee the management of IT functions in terms of infrastructure, application development, and support.
According to a statement released by EuroCCP, David will join the firm on 20.05.2019 and will be reporting directly to Cecile Nagel, Chief Executive Officer of the firm. Hutton has nearly 25 years of experience working in various major financial firms across Europe in the capacity of IT/Technology Officer. Prior to joining EuroCCP, David was working in as Product owner for Commerzbank AG on their Foreign Exchange Option Migration Project for a period of 7 months.
Before his recent tenure at Commerzbank, David was worked at LCH and during his tenure there he helped build and launch the firm’s FX clearing service Forex Clear. David also served as Head of IT for Paris based CDS Clear for several years overseeing their IT strategy and was also in charge of technical aspects of the firm’s transformation programme.
He had multiple tenures with Commerzbank during his career, having held various key roles in their technical division. His first tenure with Commerzbank was from July 2002 to August 2005 and second tenure was from 2009 to 2010. When speaking about David’s appointment as CTO at EuroCCP Cecile Nagel, CEO of the firm commented “I am delighted that David has chosen to join EuroCCP. As we continue to develop our business, we need to understand how existing and new technology can help support our growth and bring efficiencies to our clients”. And when speaking about Albert’s departure, Nagel stated, “He has been integral to the development and success of EuroCCP since it was launched more than 10 years ago, helping turn the business into one of Europe’s leading market infrastructures. His contribution and counsel will be missed”.
Please feel free to let us know what you think in comments below