The Clearing Corporation (C-Corp) announced new leadership last week with the appointment of Richard Jaycobs as new ceo and Brett Paulson as president and coo, replacing president and ceo Dennis Dutterer who resigned on 25 February.
Michael Dawley, chairman of the board at C-Corp, said the appointments reflected the changing strategy of the company, from primarily a clearing utility to more of a technology and consulting services firm.
However, market sources suggested to FO Week that relations between Dutterer and Eurex, with which the clearinghouse signed a long-term clearing deal in the past two years, may have worsened to the point that his position had become untenable. "[Jaycobs and Paulson] have the full support of the board of directors as we move forward to aggressively implement the objectives set forth in our business...