PHUPINDER GILL : Chief Executive Officer, CME Group
Phupinder Gill was appointed Chief Executive Officer of CME Group in May 2012. In addition to running the firm’s day-to-day operations, he is responsible for implementing strategic initiatives to expand CME Group’s core business and pursue new global growth opportunities in over-the-counter and emerging markets.
Gill leads a workforce of more than 2,800 professionals worldwide who are involved in financial technology development, clearing and risk management services, global operations, research and product development, legal and regulatory affairs, sales, marketing, corporate finance, business development, and human resources.
Prior to assuming his current role, Gill served as CME Group’s President since 2004, where he helped set and execute the company’s strategy and oversaw the divisions responsible for products and services, technology, global operations, clearing, enterprise solutions, and research and product development. From 2000 to 2003, Gill was Managing Director and President of CME Clearing, the largest derivatives clearing house in the United States, which includes the Clearing, Risk Management and Audit Departments. In this role, he worked closely with most of the world’s major financial institutions — which are among CME Group’s largest customers — to ensure that CME Clearing provided the most efficient and cost-effective services and technologies for their client and proprietary trading activities.
In 2003, he led the implementation of the company’s historic clearing agreement with the Chicago Board of Trade (CBOT), under which CME provided clearing (back-office processing) for all CBOT products. This agreement helped pave the way for the 2007 merger of the two institutions. Previously, Gill was responsible for implementing the CLEARING 21® system and CME’s cross-margining arrangement with the Options Clearing Corporation, which significantly reduces performance bond requirements for firms.
Gill joined the company in February 1988 and held numerous positions within CME Clearing, including Senior Director of Risk Management, Vice President, and Senior Vice President, before his promotion to President, Clearing House in 1998. During his tenure, he oversaw virtually every function performed by CME Clearing, including operations, risk management, collateral management, audits, settlements, trade processing, systems development and deliveries.
Gill serves on CME Group’s Board of Directors, as well as the board of the World Federation of Exchanges (WFE) and WFE’s Regulatory Policy Committee. He also serves on the Board of Directors of First Midwest Bancorp Inc.
He is a member of CME Group’s Competitive Markets Advisory Council and sits on the boards of The Alexander Maxwell Grant Foundation, CME Group Foundation and CME Group Community Foundation.
He earned a bachelor’s degree in finance and an MBA degree, both from Washington State University.