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OCC Announces Four New Senior Leaders

CHICAGO (June 13, 2019) – OCC, the world's largest equity derivatives clearing organization, today announced the appointment of four new senior leaders, including a new General Counsel.

"We are very pleased to bring these talented individuals on board," said OCC Chief Executive Officer John Davidson. "These appointments demonstrate OCC's continued ability to attract the best talent as we work to stay ahead of risk, foster innovation and lead the U.S. equity options industry in developing further efficiencies and growth."

"As a Systemically Important Financial Market Utility, OCC works to ensure confidence in the financial markets and the broader economy," said Scot Warren, OCC Chief Operating Officer. "These additions to OCC's management team will help us sustain our resiliency, enhance our operations, and help us continue to develop innovative technology solutions to better serve the users of the equity options markets."

Janet Angstadt has been named Executive Vice President and General Counsel. She will be responsible for the strategic direction of OCC's legal programs with a focus on compliance and regulatory requirements. She will also be a member of OCC's Management Committee. Most recently, Angstadt was at Katten Muchin Rosenman, where she was a Partner and Co-Head of the Chicago Financial Services Practice, with extensive experience in corporate and securities law. She reports to CEO John Davidson.

Saqib Jamshed has been named Senior Vice President, Model Risk Governance. He will be responsible for enhancing OCC's model risk management program to ensure appropriate measurement and mitigation of risk related to OCC's quantitative models and tools. This includes liaising with regulatory examiners and other external parties regarding OCC's models and risk analytics. Jamshed has over 20 years of experience as a financial services risk management and technology professional, most recently with State Street Corporation, as the Director of Quantitative Risk Analytics – Model Governance. He will report to OCC Executive Vice President and Chief Risk Officer John Fennell.

Pat Hickey has been named Senior Vice President, Product and Business Development. He will be responsible for the products and services delivered to OCC's exchange partners and clearing firms, while also running competitive analyses to identify opportunities and threats within OCC's product and business ecosystems. Hickey has over 20 years of experience in the options industry, most recently as Head of Market Structure at Optiver. He reports to Chief Operating Officer Scot Warren.

Sandeep Maira has been named First Vice President, Head of Risk Solution Delivery and Support. He will maintain OCC's custom-built software, ensure that OCC's evolving Information Technology solutions align with its business objectives, and drive OCC's transition to cloud computing. Maira has over 20 years of experience in financial and technology innovation, most recently as Global Head of Risk, Compliance and Financial Regulatory Reporting Technology with BNY Mellon. Prior to that he was at JPMorgan, as Head of Futures/Options, Clearing and Asset Management Risk Technology. He will report to Tim Dwyer, OCC's Senior Vice President of Strategic Systems.

About OCC

OCC is the world's largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2019 Best Clearing House by Markets Media, and 2018 Clearing House of the Year — The Americas by FOW, OCC now provides central counterparty (CCP) clearing and settlement services to 20 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.