Nomura, JP Morgan and BNPP lose clearing execs
McCormack, Serafini and Dixon depart; SG shakes up global markets team; Piterbarg joins Rokos
Senior clearing executives departed their roles at three major institutions in May, as banks struggle to make money from a business that has been the victim of postponed implementation and increased capital requirements Lee McCormack, executive director of over-the-counter clearing business development at Nomura, has left following the bank's decision to exit OTC clearing in the US and Europe. Gavin Dixon, BNP Paribas' European head of derivatives clearing services, is set to leave the French
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