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OCC Announces Two Executive Leadership Promotions

Dan Busby to succeed retiring COO Scot Warren; Mike Hansen to become Chief Clearing and Settlement Services Officer

December 20, 2022
Chicago -

OCC, the world's largest equity derivatives clearing organization, today announced the promotion of two individuals on its executive leadership team. 

Dan Busby, currently Chief Administrative Officer, will take on the role of Chief Operating Officer effective January 1, 2023. He will succeed Scot Warren who previously announced his retirement. Warren will remain at OCC in an advisory capacity until April 2023.  

Busby is a 23-year veteran at OCC and previously served as Chief Administrative Officer, and Chief Clearing and Settlement Services Officer. Prior to that, he held leadership roles in Internet and Investor Services, Member Services and Business Operations. 

Mike Hansen, currently Managing Director of Clearing and Settlement Operations as well as Head of OCC’s Dallas Office, will take on the role of Chief Clearing and Settlement Services Officer effective January 1, 2023. He will also join OCC’s Management Committee.  

Hansen has more than 20 years of options industry experience and has served in various roles throughout his tenure at OCC, including back-office processing, pricing and Member Services. He represents OCC on the Dallas Regional Chamber’s Board of Directors.

“Dan and Mike are excellent leaders and continue to be key contributors to strengthening our operational resiliency,” said John P. Davidson, OCC Chief Executive Officer. “The depth and breadth of their collective industry knowledge and experience will ensure OCC continues to promote stability and market integrity while moving forward with our transformation.”

Andrej Bolkovic, OCC Chief Executive Officer-Elect, noted, “These promotions are recognition of both Dan and Mike’s tremendous impact on OCC, and we’re pleased to see them grow their responsibilities as we deliver on our Renaissance promise and continue our focus on operational excellence. Additionally, their demonstrated leadership skills and track record of success highlight our ability to attract and retain world-class talent to support our mission of ensuring confidence in the financial markets.” 

Craig Donohue, OCC Executive Chairman, added, “On behalf of our Board of Directors and Management Committee, I want to congratulate Dan and Mike on this well-deserved recognition of their many accomplishments and dedication to OCC. We are very pleased that they will be taking on these roles and have every confidence they will continue their strong track records of success. I also want to thank Scot for his contributions to OCC over the course of his tenure. Since joining the company in 2015, he has been instrumental in driving our transformation, creating alignment across the enterprise and enhancing execution of OCC’s strategic vision and corporate goals, including our Capital Plan and Renaissance Initiative. We wish him the very best in his retirement.”

About OCC

The Options Clearing Corporation (OCC), named Risk Magazine’s 2022 Clearing House of the Year, 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 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

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