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 plan,"
Dawley said in a statement. "[C-Corp] is well positioned with
opportunities to expand as a major service provider to the
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