Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization, announced David Hoag will join the firm as its chief information officer effective May 1.
Hoag will report to John Davidson, OCC’s new president and chief operating officer, and takes over for Luke Moranda, who will serve as senior information technology advisor to the president and COO.
Prior to joining OCC, Hoag was the chief technology officer (CTO) at Halo Investing, which offers a pre-defined market return trading platform. He also spent 11 years with CME Group, where he most recently led their information technology development teams in charge of clearing and settlement activities.
“David can build upon the progress and momentum created by Luke Moranda and our IT team to help ensure that OCC has the technology infrastructure in place to assess the ability to meet the evolving needs of our clearing members while also meeting the heightened expectations of global regulators,” said Craig Donohue, OCC executive chairman and chief executive officer, in a statement. “As our senior IT advisor, Luke will focus on OCC’s future state IT capabilities, including modernizing and improving our software development life cycle processes. I have great confidence in Luke’s ability to deliver outstanding results in this new role, given his background and experience.”
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