CFTC Announces Departure of Clearing and Risk Director Clark Hutchison, who will depart the agency January 15th.
CFTC Announces Departure of Division of Clearing and Risk Director Clark Hutchison
The Commodity Futures Trading Commission (CFTC) has announced that Clark Hutchison, Director of the Division of Clearing and Risk, will leave the agency on January 15. Hutchison, who has held the position since July 2019, has played a pivotal role in supervising derivatives clearinghouses and their members. His leadership came during a period of significant market growth, historic volatility, and structural changes, earning praise from CFTC Chairman Rostin Behnam, who lauded Hutchison’s “precise, thoughtful, and practical approach to management and financial markets policy.”
Hutchison, who has not disclosed his next steps, leaves behind a legacy shaped by both public and private sector expertise. Before joining the CFTC, he spent over 30 years in high-level roles at major global financial institutions, focusing on clearing and risk management. He also served in advisory and leadership roles for key industry organizations, including the Futures Industry Association and NASDAQ Futures, Inc. His imminent departure, with just two days’ notice, is quite curious, given the critical responsibilities his division holds in maintaining the stability and integrity of derivatives markets.
The Commodity Futures Trading Commission today announced Division of Clearing and Risk Director Clark Hutchison will depart the agency Jan. 15. Mr. Hutchison has served as director since July 2019.
“Clark has led the Division of Clearing and Risk with distinction for nearly six years, bringing extensive market experience to the CFTC, and guiding the Commission through periods of immense market growth, multiple episodes of historic volatility, and significant changes in market structure,” said CFTC Chairman Rostin Behnam. “Clark’s precise, thoughtful and practical approach to management and financial markets policy will be missed across the CFTC. I wish Clark well as he turns to new opportunities in his career.”
“I want to thank Chairman Behnam for appointing me to lead the Division of Clearing and Risk,” said Hutchison. “I especially want to thank the staff of the division and all of CFTC for making this job one of the highlights of my career.”
Mr. Hutchison, who has no announced plans, managed a team that are responsible for the agency’s supervision of derivatives clearinghouses and their members, including oversight of clearing processes through risk assessment and surveillance.
Prior to joining the CFTC, Mr. Hutchison spent more than three decades in top positions in large global financial institutions, where he specialized in clearing and risk management. In addition to his private sector experience, Mr. Hutchison has served as a special advisor to the board of directors of the Futures Industry Association, as a member of the Chicago Mercantile Exchange’s Risk Committee, and as a member of the board of directors of NASDAQ Futures, Inc.
TLDRS:
- CFTC announced that Clark Hutchison, Director of the Division of Clearing and Risk since 2019, will leave the agency on January 15.
- He played a key role in overseeing derivatives clearinghouses.
- Hutchison brought over 30 years of experience in clearing and risk management from top global financial institutions and served in advisory roles for key industry organizations like the Futures Industry Association and NASDAQ Futures, Inc.
- Hutchison has not revealed his future plans, and his decision to leave with only two days' notice raises questions given the critical nature of his division’s responsibilities in ensuring market stability.
