CME Group has appointed Laurent Paulhac to its management team in New York as managing director for over-the-counter (OTC) products and services.

He was chief executive of CMA, a provider of credit derivatives data, which CME bought in 2008. He will stay there until a replacement CEO is found. Paulhac, 40, will then switch to leading the development, execution and management of CME’s OTC business strategy. He will report to Rick Redding, managing director of products and services.

“Both buy side and sell side clients have indicated their need for open clearing alternatives in OTC derivatives markets, particularly in financial products,” said Redding. “Laurent’s experience in credit and interest rate products will be a tremendous asset to CME Group as we broaden our OTC offerings and focus on delivering cleared-only solutions to our OTC clients around the world through CME ClearPort.”

Before joining CMA, Paulhac was a management consultant to venture capital groups and technology companies in financial services. In 1999, he founded Prescient Markets, an electronic execution business focused on US money market instruments. In 2002, Prescient Markets was acquired by SunGard Data Systems, and Paulhac was president of SunGard’s STN Money Markets division until 2004.