NASDAQ, the US headquartered stock exchange operator recently revealed the addition of a new senior level executive to its team. As per the statement released by the firm, it has hired Mr. Roland Chai to serve as its Chief Risk Officer. The incoming veteran with take on his new role effective from 1st June 2020 and will be based out of the exchange operator’s office located in Stockholm, Sweden.
The incoming executive is a veteran with more than two decades of experience in financial services industry. While he spent the early phase of his 24 year long career serving in the IT industry, he has spent a major part of his multi decade long career serving under leading financial service providers. In his new role as Chief Risk Officer, Mr. Chai will be responsible for developing, reviewing and maintaining NASDAQ’s global risk program and report directly to Adena Friedman – CEO & President of NASDAQ.
Mr. Chai is currently serving as Head of Post Trade at Hong Kong Exchange and has held the role for nearly 11 months now. Roland has been part of Hong Kong Exchanges and Clearing Limited for nearly three years now and has also served in the roles of Group Risk Officer and Chief Operating Officer/ Head of Clearing Risk Solutions.
During his tenure with the firm till date, he has re-established risk frameworks across exchange, listing, mainland commodities, trading and clearing departments and also ensured smooth management of risk management and clearing services across equities, fixed income, currencies and commodity instruments. Earlier in his career, he served as Executive Director for Equity Clear and Head of Equities at LCH Clearnet for seven and a half years. Some of his other notable roles are Product Development Manager at ASX, IT Development Manager at Skandia, Business Systems Manager at Rothschild, IT Projects Manager at Velocity Systems International and Consultant at Accenture.
Commenting on Mr. Chai’s addition to the executive leadership team, Adena Friedman – President & CEO of NASDAQ said, “Risk management is an essential part of NASDAQ’s global business and operations. NASDAQ is committed to building and maintaining an industry leading culture of risk management that is able to support our long-term objectives. Roland brings extensive experience in establishing and implementing risk frameworks across functions as well as strong management capabilities that will further strengthen and enhance our decision making and business operating processes. We look forward to welcoming Roland to the NASDAQ team”.
Speaking about his new role at NASDAQ, Mr. Chai said, “Within the capital markets, Nasdaq has demonstrated its commitment to globalizing its business and building an advanced technology company. NASDAQ also is recognized as a leader in providing risk management solutions for its own markets, regulators and other industries. I’m thrilled to be joining the company to continue bolstering its global, enterprise-wide risk culture”.
