CME Group taps Michel Everaert and Russell Beattie to lead EMEA and APAC businesses
“After record volume growth in EMEA and Asia Pacific for each of the past 10 years, approximately 30% of our revenue is now generated from non-U.S. markets.”
CME Group has announced a new regional leadership structure for Europe, Middle East and Africa (EMEA) and the Asia Pacific region as the derivatives specialist aims to enhance local expertise and provide relevant products and services that meet the diverse risk management needs.
Michel Everaert and Russell Beattie are the two new pieces in the leadership of CME Group’s worldwide efforts and will report to Derek Sammann, Senior Managing Director, Global Head of Commodities, Options and International Markets.
Additionally, William Knottenbelt, who currently serves as Senior Managing Director, Head of International, will retire at yearend.
30% of revenue generated from non-U.S. markets
Derek Sammann, Global Head of Commodities, Options and International Markets, commented: “After record volume growth in EMEA and Asia Pacific for each of the past 10 years, approximately 30% of our revenue is now generated from non-U.S. markets. Building on that momentum, the organizational changes announced today further elevate both the significance and opportunities that these regions represent to our overall business and reflect the many achievements of our talented regional team members. To that end, I want to thank William for his contributions in getting us to this point in the continued evolution of our international business.
CME Group reached average daily volume (ADV) of 7.3 million contracts, up 18% year on year, in Q1 2022 outside the US market. The increase was driven by 17% growth in EMEA (5.1 million contracts ADV) and 22% growth in Asia Pacific (1.9 million contracts ADV), compared to the same period last year.
“I’m now pleased to appoint Michel Everaert, who is a long-standing CME Group employee, to head our EMEA region and name Russell Beattie to lead our business in Asia Pacific. Our new structure will enhance our ability to provide local expertise and globally relevant products and services to meet the diverse risk management needs of our clients around the world”, Derek Sammann added.
Michel Everaert has been named Managing Director and Head of EMEA, a new position based in London. The 30-year industry veteran specialized in derivatives markets has worked in leading companies, including IMEX Group, GFI Group, Logica, Reuters and Dow Jones, before joining CME Group in 2011. He most recently served as the company’s Managing Director and Co-Head of Client Development & Sales (CD&S) for EMEA.
Russell Beattie will join CME Group in May as Managing Director and Head of Asia Pacific, based in Singapore. With more than 25 years of experience in the listed and OTC derivatives markets, he has held APAC leadership roles for Bank of America Securities, Barclays, Deutsche Bank, and HSBC, before serving as Head of Asia Pacific Derivatives Indexes for MSCI.
Additionally, Serge Marston has been appointed Managing Director and Head of CD&S for EMEA, based in London and reporting to David Hartney, Global Head of CD&S.
Having previously worked at Deutsche Bank for nearly 20 years, he joined CME Group in 2018 following the company’s acquisition of NEX Group and most recently served as Co-Head of CD&S for EMEA.