Intercontinental Exchange has announced that Stuart Williams has been appointed as President of ICE Futures Europe and Timothy J. Bowler has been appointed President of ICE Benchmark Administration (IBA), both effective October 2017. Williams will assume the role following David Peniket’s retirement, and Bowler will succeed Finbarr Hutcheson, who will succeed Paul Swann following his retirement.
Williams will become President of ICE Futures Europe following David Peniket’s retirement, and has served as Chief Operating Officer since July 2016, and previously Director of Corporate Development. Prior to that, he was at LIFFE where he played a key role in the transition of LIFFE’s clearing and trading to ICE’s clearing and trading platforms, and the Exchange’s integration into ICE.
Bowler will oversee IBA, a subsidiary of Intercontinental Exchange responsible for three systemically important benchmarks: ICE LIBOR, the LBMA Gold Price and ICE Swap Rate, as well as the ISDA SIMM Crowdsourcing Facility. IBA expects to assume responsibility for the administration of the LBMA Silver Price on 25 September.
Bowler joins IBA from Goldman Sachs where he was a managing director in the Financial Institutions Group. Prior to Goldman Sachs, Bowler worked for four years at the U.S. Treasury where he last served as Counselor to Secretary Lew responsible for advising the Secretary on matters relating to Housing Finance Reform and distressed municipalities.
“We are pleased to announce these appointments, which will enable us to continue to build on our ability to grow and serve our customers,” said Jeffrey C. Sprecher, ICE’s Chairman and Chief Executive Officer. “Stuart brings strong experience in derivatives and operations to lead our largest exchange and Europe’s leading energy and interest rate markets. Tim brings a wealth of experience in financial markets and policy to build on IBA’s strong foundation of modernized, regulated benchmarks.”
Sprecher continued: “Importantly, I want to thank David Peniket and Paul Swann and for their outstanding contributions to ICE. With their leadership, both ICE Futures Europe and ICE Clear Europe have become leading innovators in markets and clearing. I also want to thank Finbarr for building IBA into the leading administrator by reforming several of the world’s most important benchmarks. I look forward to working with Stuart, Tim and Finbarr in their new roles.”