OCC Board of Directors Appoints Andrej Bolkovic as CEO-Elect
OCC, the world's largest equity derivatives clearing organization, today announced that its Board of Directors has appointed Andrej Bolkovic, currently CEO of Akuna Capital, LLC, as its next Chief Executive Officer, replacing John P. Davidson who will retire in the first half of 2023. Bolkovic will officially join OCC as CEO-Elect on October 3, 2022, and will work closely with Davidson, the Board of Directors and Management Committee to facilitate a smooth transition of responsibilities.
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Andrej Bolkovic appointed as OCC CEO-Elect (Photo: Business Wire)
Since March 2021, Bolkovic has served as the CEO of Akuna Capital, LLC and its affiliated broker dealer, Akuna Securities, LLC. From 2016-2020, he was the Chief Executive Officer of ABN AMRO Clearing Chicago, LLC. Prior to his role in Chicago, Bolkovic worked since 2007 for ABN AMRO Clearing Bank NV in the Netherlands serving several roles, including Global CIO, COO and Executive Board Member. During this period, he also served on the Supervisory Boards of EMCF, a Pan-European equities clearing house, and Holland Clearing House, a derivatives clearing house. Bolkovic started his career in 1995 in the IT division of ING Bank and later joined Capgemini Netherlands. Bolkovic served onOCC's Board and its Technology and Compensation and Performance Committees from 2017-2020.
"We are pleased to welcome Andrej as our next CEO. His proven leadership skills, as well as deep technological and industry expertise will support our core mission of promoting stability and market integrity," said Craig S. Donohue, OCC Executive Chairman. "In addition to his exceptional qualifications, Andrej's familiarity with our organization and rapport with the Board and management team position him well to lead OCC."
Bolkovic said, "It is a privilege to be appointed to lead OCC, an organization with a vital purpose supporting markets and investors. It has been exciting to see the progress OCC has made in enhancing its resiliency and performance over the last several years, including its investment in the Renaissance Initiative. I look forward to working with John, OCC's Board and the Management Committee to continue to deliver excellence to market participants, regulators and the investing public, and to ensure the seamless transition that is required for a systemically important market utility. I also look forward to leading a team of talented OCC colleagues who share a common commitment to the critical role of OCC in supporting secure markets."
Donohue thanked Davidson for his leadership over the past five years, citing his role in navigating OCC through its significant transformation efforts and the Covid-19 pandemic. During Davidson's leadership, OCC has enhanced its operational and financial resiliency, made significant strides and investments in technology, and strengthened its approach to financial risk management for the industry.
"On behalf of our Board of Directors, I thank John for his dedication, integrity, and the many contributions he brought to OCC during his tenure, which has been an extraordinary time for our organization and our industry," said Donohue. "He led, and continues to lead, us through significant changes and modernization efforts during a period of tremendous volume growth. Over that time, our technology infrastructure has proven its strength and resilience, and we have continued to meet our obligation to provide operational excellence to all our stakeholders."
Davidson joined OCC in 2017 as President and Chief Operating Officer and was promoted to CEO in 2019.
"It has been a great honor to work for OCC for the past five years," said Davidson. "I have been privileged to work with many talented and dedicated colleagues and to witness the tremendous growth of the listed options market. Andrej is a great choice for our next CEO, and I am confident that, under his leadership, OCC will continue to progress, thrive and support our growing industry."
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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