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Gamekeeper turned poacher

Scott O’Malia’s respite from the derivatives markets has been brief; it is likely the CFTC’s respite from Scott O’Malia will be equally short. ISDA have announced his appointment as chief executive, effective 18 August, succeeding Bob Pickel the CEO of 17 years.

“Scott is a respected leader on many key issues affecting our markets, including the need for international cooperation in derivatives rule-making. The Board is excited and confident that Scott is the right person to lead the industry and ISDA through the many structural changes — including margin, capital, clearing, trade execution and reporting rules and regulations — that are reshaping the global derivatives markets.”- Stephen O’Connor, ISDA Chairman.

Mr. O’Malia said, “The need by thousands of companies around the world to manage and hedge their business and financial risks via derivatives remains as important as ever. ISDA’s role is to ensure derivatives markets help to fulfill this promise. It is a role that remains vital and relevant and I look forward to working with ISDA’s board, staff, members and external constituencies to address the challenges and opportunities ahead.”

He takes the helm of ISDA at a pivotal moment in its 29 year history, as the 800 member organisation seeks to redefine its role, while derivative markets transition from the unregulated Wild West to the mild west of clearing, capital controls, and cradle to grave supervision.

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