International Securities Exchange, LLC
The ISE, LLC Board of Directors has 16 members, eight of whom are non-industry public Directors. There are six representatives of member firms on the board: EAMs, CMMs and PMMs; each elect two representatives. The Chief Executive Officer of the Exchange is also on the board. There is also one Former Employee Director on the board.The board has regularly scheduled meetings quarterly and meets otherwise when necessary.
Industry Directors
Timothy Brennan
Head of Automated Market Making
Ronin-Capital
Mr. Brennan has been a CMM Director of ISE since June 5, 2008. He is head of the Automated Market Making business at Ronin Capital responsible for market making in listed options on US options exchanges. Mr. Brennan joined Ronin-Capital in June 2009. Prior to joining Ronin-Capital, Mr. Brennan was a Managing Director with Merrill Lynch from 2007 to 2009 responsible for listed options Automated Market Making, or AMM, business development. Prior to Merrill Lynch, Mr. Brennan was a Senior Vice President for Automated Trading Desk where he was responsible for building an AMM business. From 2004 to 2005 Mr. Brennan was a Director at Citadel Investment Group where his responsibilities included managing options trading floor operations, exchange relationships. Mr. Brennan worked at Morgan Stanley from 1986 to 2004 working in Foreign Exchange and AMM. Mr. Brennan is a graduate of Benedictine College, Atchison KS.
Mark Dehnert
Partner
Goldman Sachs & Co.
Mr. Dehnert has been a director of ISE since April 11, 2008. He is responsible for the Quantitative Equities Trading businesses in the Securities Division of Goldman Sachs & Co. Prior to Goldman Sachs, Mr. Dehnert joined the Hull Group, now part of Goldman Sachs, as a financial engineer in 1992. He relocated from Chicago to Frankfurt in 1995, where he helped Hull build its electronic equity options trading system and businesses in Europe. Mr. Dehnert was named a principal at Hull in 1996. In 1997, he relocated to Hull’s joint venture with Daiwa Securities in Tokyo, where he focused on the venture’s launch into single stock options. In 1999, Mr. Dehnert returned to Chicago to take up his current responsibilities at Goldman Sachs and assist with Hull’s ISE implementation. He became a managing director in 2000 and a partner in 2002. Mr. Dehnert holds a B.S. and M.B.A. from Washington University in St. Louis.
Sean Flynn
Options Trader
Timber Hill LLC
Mr. Flynn has been a director of ISE since May 2005. Mr. Flynn has been a trader for Timber Hill LLC since 1997. Mr. Flynn is also a member of IBG LLC, the parent company of Timber Hill LLC. Mr. Flynn is a graduate of the University of California, Irvine, where he received a B.S. degree in Economics.
Michael Juneman
Managing Director
Citadel Derivatives Group LLC
Mr. Juneman has been a PMM Director of ISE since April 24, 2009. Prior to joining Citadel, Mr. Juneman spent nine years with Timber Hill LLC, where he rose to the position of Vice President and Officer. Currently, he serves on several committees at the Chicago Board Options Exchange and ISE. In addition to numerous exchange memberships, Mr. Juneman is a member of the Securities Traders Association, the Securities Traders Association of Chicago, and The Securities Industry and Financial Markets Association. He holds a bachelor’s degree from Illinois State University.
Joseph Sellitto
Chief Executive Officer
Global Execution Brokers, an affiliate of Susquehanna International Group (SIG)
Joseph Sellitto is the Chief Executive Officer of Global Execution Brokers, an affiliate of Susquehanna International Group (SIG). Prior to joining SIG, from 2003 to 2006, Mr. Sellitto was a director of derivative products at E*TRADE Securities LLC, leading the development of E*TRADE’s retail options and futures business. From 1982 to 2003, he was senior vice president at Morgan Stanley DW, Inc., where he managed options trading floor execution and risk. Mr. Sellitto has more than 38 years of securities industry experience, including extensive experience working with the exchanges. He was a member of the CBOE from 1974 to 2003, and has held memberships at the CBOT, International Monetary Market division of the CME, PHLX, and NYSE/ARCA exchanges. He has also served on numerous industry committees. He currently serves on the SIFMA Options Committee.
J. Slade Winchester
Head of U.S. and international business development, technology and operations
Citigroup Derivatives Markets, Inc.
Mr. Winchester has been a CMM Director of ISE since June 4, 2009. From 2005 to 2007, he was the Head of Single Stock Trading and from 2004 to 2005 he was the Head of CBOE DPM Trading Operations at Citigroup. He held the same position at Knight Financial Products from 2000 to 2004, at which time it was acquired by Citigroup.
Non-Industry Directors
Michael Kuhn
Chief Information Officer
Deutsche Börse AG
Mr. Kuhn has been a non-industry director of ISE since June 4, 2009. He joined Deutsche Terminbörse in 1989 and has held various IT management positions within Deutsche Börse AG. He is currently responsible for Information Technology. Mr. Kuhn is also the Chief Executive Officer of Deutsche Börse Systems AG, a member of the Executive Board of Clearstream Holding AG, a member of the Board of Directors of Eurex Zürich AG, a member of the Supervisory Board of Eurex Frankfurt AG and a member of the Supervisory Board of Eurex Clearing AG. He has a degree in chemistry from the University of Frankfurt and a Ph.D. in chemical engineering from the University of Dortmund.
Michael P. Monaco
Senior Managing Director
Conway Del Genio Gries & Co., LLC
Mr. Monaco has been a non-industry director of ISE since June 4, 2009. He joined Conway Del Genio Gries & Co., LLC, or CDG, an independent financial advisory firm, in 2002. Prior to joining CDG, he was the Chairman and Chief Executive Officer of Accelerator, LLC, since 2000. Mr. Monaco currently serves on the board of ID Systems, Inc., as Chairman of the Audit Committee. He is a member of the American Institute of Certified Public Accountants and the New Jersey Society of Certified Public Accountants. Mr. Monaco holds a M.B.A. from Fairleigh Dickinson University and a B.S. in Accounting from Villanova University.
Andreas Preuß
Chief Executive Officer
Eurex
Mr. Preuß has served as Vice Chairman of ISE since June 16, 2010, and has been a director of ISE since December 19, 2007. Since April 2006, Andreas Preuß is a member of the Executive Board of Deutsche Börse AG and the Chief Executive Officer of Eurex Zurich AG, Eurex Frankfurt AG and Eurex Clearing AG. Since June 2006, he is also a member of the Management Board of Eurex Deutschland. From 2002-2006, he was the Chief Operating Officer and a member of the Board of Mako Group, London, a leading trading house and market maker in exchange traded fixed income and index options. From 2000 to 2001, Mr. Preuß was President of Trading Technologies in Evanston, Chicago. From 1990 to 2000, he held leading positions within Deutsche Börse AG, lastly being a member of the Eurex Management Board, responsible for Business Development, Marketing and Sales. Mr. Preuß holds a graduate degree in economics from the University of Hamburg.
Joseph Stefanelli
Retired
Mr. Stefanelli has been a non-industry director of ISE since May 2007. From 1984 to 2002, Mr. Stefanelli served in various senior positions at the American Stock Exchange, including Executive Vice President of Equities, Executive Vice President of Derivatives Securities, Senior Vice President of Derivatives Securities Marketing, and Senior Vice President of Options Marketing. Mr. Stefanelli has served on various options advisory committees and also served as a director of OCC from 1995 to 2002. He has also taught at the New York Institute of Finance.
Kenneth Vecchione
President and COO
Western Alliance Bancorp
Mr. Vecchione has been a non-industry director of ISE since May 2007. Mr. Vecchione is currently the President and Chief Operating Officer of Western Alliance Bancorp (NYSE: WAL). Mr. Vecchione was previously the Chief Financial Officer of Apollo Global Management, one of the largest private equity firms, from October 2007 through March 2010. From 2004 to 2006, Mr. Vecchione served as Vice-Chairman and Chief Financial Officer of MBNA Corporation. He joined MBNA America Bank in 1998 as Division Head of Finance, and in 2000 he became Chief Financial Officer and Director of MBNA America Bank N.A. and served on the Executive and Management Committees. From 1997 to 1998, he served as Chief Financial Officer of AT&T Universal Card Services. From 1994 to 1997, he served as Chief Financial Officer and Group President of First Data Corporation’s Electronic Funds Management business. Prior to joining First Data, he worked at Citigroup for 17 years, where he was Chief Financial Officer of their credit card business. Mr. Vecchione is a board member and Chairman of the Audit Committee for Affinion Group. He is also a board member and Chairman of the Finance & Investment Committee for Western Alliance Bancorp. He holds a B.A. in Accounting from the University of New York at Albany.
Christianna Wood
Chairperson and member of the Board of Directors for the International Corporate Governance Network
Since July 2008, Ms. Wood is a member of the Board of Directors the International Corporate Governance Network, and its Chairperson since July 2009. Ms. Wood served as the Chief Executive Officer of Capital Z Asset Management, the largest dedicated sponsor of hedge funds, from March 2008 through July 2009. Previously, Ms. Wood was the Senior Investment Officer for the Global Equity unit of the California Public Employees' Retirement System (CalPERS) for five years, from 2002 to 2008. Prior to CalPERS, Ms. Wood served as a Principal of Colorado-based Denver Investment Advisors, as well as Portfolio Manager, Director of Value Strategies and a member of the Management Committee, from 1996 to 2002. Ms. Wood is a Trustee of Vassar College and on the Investment, Audit and Social Responsibility Committees of the Vassar College Board of Trustees. Ms. Wood was previously a member of the Public Company Accounting Oversight Board (PCAOB) Standard Advisory Group (2006-2008) and the International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group (2006-2009). Ms. Wood obtained a Bachelor of Arts degree in Economics from Vassar College and a Masters of Business Administration degree in Finance from New York University.
Management Director
Gary Katz
President and Chief Executive Officer
Mr. Katz is the President and Chief Executive Officer of ISE and a director of ISE since January 1, 2008. Mr. Katz is also the President and Chief Executive Officer and a director of International Securities Exchange Holdings, Inc. From 2001 to December 31, 2007, Mr. Katz was the Chief Operating Officer of ISE and International Securities Exchange Holdings, Inc. Mr. Katz co-founded ISE in October, 1997. From 1997 to 2001, he was Senior Vice President, Marketing at ISE. From 1997 to 1998, he was President and co-founder of K-Squared Research, LLC, a financial services consulting firm. From 1986 to 1997, Mr. Katz was Managing Director, Options and Index Products, at the NYSE. Mr. Katz is a co-founder of The Options Industry Council. Mr. Katz serves on the Executive Board of Eurex and also represents ISE on the Board of Directors of The Options Clearing Corporation, or OCC, and Direct Edge Holdings, LLC. Mr. Katz has an M.S. in Statistics with Distinction from New York University and a B.A. from Queens College.
Former Employee Director
David Krell
Chairman
Mr. Krell has served as Chairperson of ISE since January 1, 2008 and a director of ISE since 1997. From 1997 to December 31, 2007, Mr. Krell was the President and Chief Executive Officer of ISE and the President and Chief Executive Officer of International Securities Exchange Holdings, Inc. Mr. Krell co-founded ISE in October, 1997. From 1997 to 1998, he was Chairperson and co-founder of K-Squared Research, LLC, a financial services consulting firm. From 1984 to 1997, Mr. Krell was Vice President, Options and Index Products, of the NYSE. Mr. Krell formerly was an Adjunct Professor at Rutgers University Graduate School of Management and at the Graduate School of Baruch College. He has taught, coordinated and directed seminars and workshops at the New York Institute of Finance. Mr. Krell serves on the Supervisory Board of Deutsche Börse AG.