RELEASE Number
7987-19

July 30, 2019

Chairman Tarbert Announces Key Executive Leadership Appointment 

Clark Hutchison to Serve as Director of the Division of Clearing and Risk

— U.S. Commodity Futures Trading Commission Chairman Heath P. Tarbert today announced the appointment of Malcolm Clark “Clark” Hutchison III to serve as Director of the Division of Clearing and Risk.

In his role, Mr. Hutchison will be responsible for the CFTC’s supervision of derivatives clearinghouses and their members, including oversight of clearing processes through risk assessment and surveillance.

“The CFTC is lucky to have a person of Clark’s caliber serving in this critical role,” said Chairman Tarbert. “His expertise in regulation, risk management, and market structure will be invaluable as we work to ensure our derivatives markets remain fair, innovative, and vibrant.”

“After finishing a sterling 34-year career, Clark could have enjoyed a comfortable retirement,” Chairman Tarbert noted. “I am grateful he is instead pursuing public service so that everyday Americans can benefit from his extensive experience.”

Prior to joining the CFTC, Mr. Hutchison spent more than three decades in top positions in the U.S. financial sector, where he specialized in clearing and risk management. In addition to his private sector experience, Mr. Hutchison has served as a special advisor to the board of directors of the Futures Industry Association, as a member of the Chicago Mercantile Exchange’s Risk Committee, and as a member of the board of directors of NASDAQ Futures, Inc.

Mr. Hutchison holds a bachelor’s degree in economics from Haverford College.