Stephen Luparello, a public director on OCC’s Board of Directors will succeed Craig Donohue as chairman at the Options Clearing Corporation, officials said Friday.
OCC, the world’s largest equity derivatives clearing organization, said Donohue had resigned to pursue other career opportunities. Luparello, who has previously served on the Compensation and Performance Committee and the Regulatory Committee for OCC, will serve as chair for the remainder of Donohue’s term through April 2026.
“I am honored to serve as Chairman of the Board for OCC,” Luparello said. “It continues to be rewarding to serve alongside my fellow directors in this time of transformational change for OCC and across our industry. I look forward to continuing our work with OCC’s management team to elevate OCC’s resiliency and efficiency for the benefit of market participants and the investing public.”
On the appointment, Luparello said “I am honored to serve as Chairman of the Board for OCC. It continues to be rewarding to serve alongside my fellow directors in this time of transformational change for OCC and across our industry. I look forward to continuing our work with OCC’s management team to elevate OCC’s resiliency and efficiency for the benefit of market participants and the investing public.”
Officials said Luparello’s career includes experience as Managing Director and General Counsel for Citadel Securities, and director of the U.S. Securities and Exchange Commission’s Division of Trading and Markets. Luparello spent 16 years at the Financial Industry Regulatory Authority (FINRA) where he served in a number of regulatory roles.
“I am thrilled to welcome Steve as OCC’s next Chairman. Steve’s experience in both industry and regulatory roles allows him to bring a uniquely valuable perspective to our organization,” Andrej Bolkovic, OCC’s CEO and member of its board, said. “We have benefitted greatly from his deep understanding of markets and the vital role that OCC plays. I look forward to continuing to work closely with him in his new role.”