CME Group names Jack Tobin as CFO

Sept 9 (Reuters) - CME ‌Group named ​insider ​Jack Tobin as chief financial officer on Wednesday, succeeding Lynne Fitzpatrick, who ‌is set to become the derivatives exchange's ⁠first female CEO.

Tobin, who has been CME's chief ‌accounting officer since 2015, ‌will become deputy CFO in November and assume the position of finance chief in March ​2027, when Fitzpatrick takes on the new role.

CME had in June announced that ⁠its longtime leader Terry Duffy plans to step down and make ​way for Fitzpatrick.

The leadership transition comes as traditional derivatives exchanges look beyond ​their core businesses while facing ‌rising competition from perpetual futures, or "perps", and fast-growing prediction markets.

Tobin, who joined ⁠CME in 2002, has more than 35 years of financial experience. Prior to this, he was ⁠the director of finance at the Chicago Board of ​Trade. He has also worked as a principal consultant at PricewaterhouseCoopers.

CME completed its merger with CBOT in ‌2007. Its shares have gained more than 1% this year through last ‌close.

Matthew Render, who joined CME as deputy ⁠chief accounting officer ‌in August, will ​succeed Tobin.

(Reporting by Prakhar Srivastava and Pragyan Kalita in Bengaluru; Editing by Shilpi ‌Majumdar)

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