The Chicago Mercantile Exchange (CME) Group has selected new heads for two of its leading businesses. The exchange, which calls itself "the leading and most diverse derivatives marketplace in the world," today announced it has hired Michael Kilgallen, as Managing Director, Equity Products and Sean Tully as Managing Director Interest Rate Products.
The 39-year-old Kilgallen, who had been Managing Director of Citigroup's Global Prime Finance unit of its Equities Division, will be responsible for growing CME's equity index business line. He'll be based in New York and will report to Scot Warren, Managing Director, Equity Index Products and Services.
Tully, 47, will also be based in New York and will be responsible for growing the company's global interest rate business. He'll report to Derek Sammann, Managing Director, FX and Interest Rate Products. Tully most recently served as Managing Director, Global Head of Credit and Fixed Income Trading at WestLB in London. He's also the author of Restoring Confidence in the Financial System, See-Through Leverage: A Powerful New Tool for Revealing and Managing Risk.
The CME Group of exchanges offer a wide range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. It has trading facilities in New York and Chicago.