CHICAGO, Ill, March 9, 2015 (GLOBE NEWSWIRE) -- via PRWEB - OCC, the world's largest equity derivatives clearing organization, announced today that Luke Moranda has joined the firm as Senior Vice President and Chief Information Officer. He will direct the OCC's technology vision and strategy, and lead the transformation of world-class systems and services to meet the needs of OCC clearing members. Mr. Moranda will replace Raymond Tamayo, and report to Michael McClain, OCC President and Chief Operating Officer.
Mr. Moranda joins OCC from JPMorgan Chase, where he was Managing Director, Clearing Technology and Global Payments Technology, Treasury Services Technology. His responsibilities included leading the technology effort for global payment strategy, processing the movement of up to $5 trillion per day in real-time wires, and supporting the global movement of up to $10 trillion per day in U.S. and U.S. dollar equivalents. Mr. Moranda managed a 450-person global technology organization responsible for supporting JPMorgan Chase's market-leading U.S. Dollar Wire business, along with global payment support functions including FX, investigations, fund control, and case management for sanctions screening. He held several other positions of increasing responsibility during his tenure at JPMorgan Chase. Earlier in his career, Mr. Moranda was an Application Manager and Senior Project Manager with Heller Financial Capital, a part of GE Capital. Prior to that, he was a senior consultant with Accenture.
"We are pleased that Luke has agreed to join our leadership team," said Craig S. Donohue, OCC Executive Chairman. "He brings a proven track record of success in driving technology change in a critical business environment that requires exceptional levels of resiliency. This is important as we continue to invest in new technology and people that will strengthen our capabilities to meet the ever-changing marketplace expectations for systemically important market utilities such as OCC."
Mr. Tamayo earlier had announced plans to retire in 2015. OCC conducted a national search and identified Mr. Moranda as a successor. Donohue said, "On behalf of our board and management team, I want to thank Ray for his years of service to OCC. He had many accomplishments, including modernization of our infrastructure, increased cyber preparedness, and the implementation of ENCORE prices. I appreciate Ray's willingness to stay on for a period of time as part of our succession planning to create a seamless transition for Luke, our team, and our clearing member firms. "
Mr. Moranda received his BS in Electrical Engineering from Bradley University. He also earned an MBA from the Keller School of Business at Indiana University.
About OCC
OCC is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the Securities and Exchange Commission (SEC) as a Registered Clearing Agency and the Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. OCC now provides central counterparty (CCP) clearing and settlement services to 16 exchanges and trading platforms for options, financial futures, security futures and securities lending transactions. More information about OCC is available at http://www.theocc.com.
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