McCormack leaves CloudMargin 30 October 2017London Reporter: Jenna Lomax
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Lee McCormack has left CloudMargin after just over a year as its head of strategy and product development.
It is currently unconfirmed where McCormack is moving to, or what his role will be.
Previously, McCormack was an executive director at Nomura, a role he held from September 2012 to May 2015.
At the bank, he was responsible for building, marketing and selling Nomura's OTC derivatives clearing business.
McCormack also served at Morgan Stanley, UBS and LCH.Clearnet.
The news of McCormack’s departure comes just a few months after CloudMargin set up a new microsite, called FlightPlan, aimed at clarifying new over-the-counter derivatives rules around the world.
According to CloudMargin, FlightPlan will enable financial institutions to identify and personalise information most applicable to their businesses, as well as prepare them for regulatory changes and mandate implementations expected up until 2020.
CloudMargin also announced a connection with DTCC-Euroclear GlobalCollateral’s Margin Transit Utility (MTU) in August.
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