US derivatives marketplace CME Group has promoted John Marchese to general counsel, succeeding Jonathan Marcus in the role.
Marchese was previously associate GC for litigation and information technology. As GC, he will be responsible for overseeing all legal matters.
The company also announced it will promote CME Group chief accounting officer Jack Tobin to CFO, effective March next year, while also lining up Matthew Render to succeed Tobin.
Chicago-based CME Group is the world’s largest derivatives marketplace where traders can buy and sell contracts whose value is linked to the performance of an underlying asset, such as interest rates, equity indices or cryptocurrencies.
Terry Duffy, CME Group chairman and CEO, said: “I want to congratulate Jack, John and Matt on their new roles that demonstrate the strong bench strength we have developed across our leadership team.”
He added: “Looking ahead, I am confident that these talented individuals will help CME Group continue to grow our global business in the years to come.”
Marchese joined CME Group in 2011 to lead its litigation function, becoming associate GC for litigation and information technology in 2024. Prior to joining CME Group, he spent a decade at Arthur Anderson as associate GC, having started his legal career at Latham & Watkins in 1995.
Marcus, meanwhile, is stepping down as GC after four years in the role. Duffy thanked Marcus for his counsel over that time.
Prior to joining CME Group, he was a partner at Reed Smith in Washington for just over a year and a derivatives of counsel at Skadden Arps Slate Meagher & Flom for just over four years.
He also spent just under six years at the US Commodity Futures Trading Commission, roughly four of them as GC, and three-and-a-half years as of counsel at Covington & Burling.
Before that, Marcus spent close to a decade at the US Department of Justice, latterly as assistant to the solicitor general, having started his private practice career at Williams & Connolly.
In other recent in-house finance-related moves, earlier this month US asset management firm Pimco said it was lining up its head of alternatives business management Rick LeBrun as its next GC when incumbent Sung-Hee Suh retires at the end of the year.
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