Catucci Named CEO of Regulatory DataCorp
Regulatory DataCorp, a company consisting of financial institutions brought together to identify and manage risks associated with financial crime, has made William Catucci chief executive officer.
"The purpose (of Regulatory DataCorp) is for financial institutions to manage specific risks with public data that has been accumulated from around the globe - an automated, cost-effective system database of due diligence that will help these companies manage their risks," explains Catucci. "And the risks that they face include legal risks, regulatory risks, financial risks and reputation risks."
Goldman Sachs spearheaded the initiative. Other financial institutions involved in Regulatory DataCorp include American Express, Citigroup, JPMorgan Chase and UBS.
As to the timing, Catucci says, "This was formed several years ago, so it should be clear that while Sept. 11 was an awful thing and that alone might have prompted something like this, this was prompted long before."
He also says he was convinced to join the company because it demonstrated a high integrity level. "We have done a lot of work to get this right, and that's one of the other things that attracted me (to Regulatory DataCorp): the business model, how they did the legal analysis, and how they looked after the privacy concerns of consumers."
Catucci emphasizes that not just one institution will be leading this company forward. "It's an industry-based group effort, that's very important that all these companies can get together for a very worthy purpose."
Dickey Named to VP Post at CBOT
The Chicago Board of Trade has named Steven Dickey vice president of market-data products. Dickey is switching gears from the vendor side of the market, where he was executive vice president for global sales and marketing at quote vendor CQG, to the exchange side but says that both jobs are fairly similar.
"The market-data department at the CBOT, as with any exchange, needs to be run like a customer business," says Dickey. "We have customers out there in the form of market-data vendors, member firms, traders, non-member firms and others, and they use the data to trade the products that are offered at this exchange."
Dickey's responsibilities at the CBOT include increasing market-data revenues, as well as developing and launching new market-data offerings.
"There are certainly ways that value can be added to the data coming from the CBOT and I have various ideas that we're working on right now," he adds.
Dickey says that even though there have been concerns about the future of the CBOT, he plans to help with the turnaround he sees happening at the exchange under CBOT President and Chief Executive Officer David Vitale and Executive Vice President Bill Farrow.
"I was impressed with what these guys had to say," adds Dickey. "It was obvious to me that the exchange is going to be successful."
Lynch, Jones and Ryan Executive Moves Up
Tom Burns has recently been named successor to Howard Schwartz as president and chief executive officer of Lynch, Jones and Ryan, the plan-sponsor-services division of Instinet. Schwartz leaves the company at the end of 2002 with 11 years of experience in his position.
Because the company's presence is expanding in the United States and globally, it developed LJRdirect, which allows all clients online access to their accounts from anywhere using System 2100, LJR's accounting system. Registered customers can view their detailed accounts, trading data, rebate histories and profiles through LJRdirect.
Burns brings five years of experience in the company as executive vice president for Global Sales to his new position. His role is not going to change that much, he says, from his previous position. "The most important thing in being the CEO of LJR is to continue what I was doing before which was to sell LJR."
Due to the company's increased business in the global community, Burns plans to keep that area of the company growing.
"Our international (arena) has become almost half of our business and it is growing really rapidly, so I want to keep us really focused on the international (arena)."
The domestic arena will continue to work on a regional system that LJR implemented three years ago, Burns says. "One of the real benefits to us since we have gone to a regional system is that clients see us as a local company, so we want to keep that idea fully in front of our clients."
The biggest challenge, Burns says, will be keep up with the company's rate of growth. "I think it's a challenge taking over a firm that's grown 25 percent (in five years) and, certainly the way the market has been in the last couple of years, to keep that growth continuing is going to be a pretty full-time job."