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CME hires ex-UBS executive

The Chicago Mercantile Exchange (CME) has appointed Michael Kobida as director of financial management at the CME Clearing House for futures contracts, reports RiskNews' sister publication, Dealng With Technology .

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Kobida will be responsible for managing settlement and banking operations, and will report to Timothy Doar, managing director of risk management at the CME. Kobida replaces Doar, who was promoted to his new role in the CME Clearing House division.

Previously, Kobida was executive director and global business manager for the IT department at UBS Investment Bank and also served in the capacity of director of exchange-traded derivatives.

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