Laurie Ferber, Elliott Piggott, Edmund Hor
February 16, 2009
International Derivatives Clearing Group (IDCG) has named long-time Goldman Sachs executive Laurie Ferber as its general counsel and chief regulatory officer. New York-based IDCG began accepting U.S. dollar interest-rate swap (IRS) futures contracts for clearing Dec. 29, one day after Nasdaq OMX Group completed its deal for 80 percent of the clearinghouse operator. Ferber, who most recently was chief of staff for Goldman's global business selection and conflicts group and assisted in its transition to a bank holding company, has also been co-general counsel of Goldman's fixed-income, currency and commodities division and head of its derivatives legal group. Christopher Edmonds, chief executive of IDCG, which expects to clear additional IRS futures and other fixed-income derivatives contracts, cited Ferber's "tremendous experience with a wide variety of trading markets and their regulation," adding that she "will be an invaluable asset as we continue building our organization into a top-flight clearinghouse." Ferber has been an attorney with Schulte Roth & Zabel and Skadden Arps Slate Meagher & Flom.
Trading platform provider Trayport, a subsidiary of interdealer broker GFI Group since early last year, has shifted Elliott Piggott from commercial director to managing director. An eight-year veteran of the company, Piggott succeeds Trayport founder Edmund Hor, who will move into the role of product director and remain on the board. Hor pointed to his desire to spend more time developing London-based Trayport's GlobalVision electronic trading products and lauded Piggott's "great judgment." GFI chairman and CEO Michael Gooch said that Piggott, who was previously commercial director for six years at Air Miles, brings "exceptional commercial and strategic leadership" that will allow Hor to focus on technological innovation. Piggott, he added, "has developed important relationships with Trayport's major clients and has defined a unique, quality-driven culture within the company."
