Options Clearing Corporation’s (OCC) David Prosperi is set to retire as senior vice president, communications, as of 13 November, after just under six years with the equity derivatives clearinghouse.
He will be replaced by Michael Shore who joined OCC in January. Shore is leading the communications function and reporting to Julie Bauer, who oversees the entire OCC external relations team.
Prosperi’s more than three decade long career in senior communications roles took him from The White House, through two presidential campaigns, and three cabinet-level agencies, before he arrived at the Chicago-based clearing house in 2015.
At OCC, Prosperi was responsible for all external and internal communications for the world’s largest equity derivatives clearing organisation during the pivotal years when wider market awareness and understanding of the role of central counterparties (CCPs) was still developing.
He reported to the executive chairman Craig Donohue and worked directly with the CEO John Davidson to lead the rebranding initiative that began in 2018.
Prosperi’s communications career began in 1979 as a press aide for the 1980 Reagan presidential campaign. During that period he travelled with governor Reagan on the campaign trail and worked with acclaimed political PR guru Lyn Nofziger.
Prosperi went on to become assistant press secretary at The White House from 1981 to 1982.
From there, he held a series of senior public sector roles before returning to his hometown of Chicago in 1990 to serve at the Chicago Board of Trade as senior vice president and assistant to the CEO — a role he held for 13 years.
Next was CME Clearing where he first met and worked directly with Donohue, then CME’s CEO, for four years, including throughout CME’s merger with Prosperi’s prior employer in 2007, to become CME Group.
From June 2008 until joining OCC, Prosperi led the global public relations activities for Aon, the risk management and human capital advisor. This included all external communications related to Aon’s global partnership with the English football club Manchester United.
Displaying a shrewd acumen for when to leave on a high, Prosperi followed United manager Alex Ferguson’s lead and left the club and Aon in 2015 for OCC.
“I really enjoyed my experience at OCC and the opportunity to work again with Craig Donohue and with some very smart people who have an impact every day in global financial markets,” says Prosperi.
“I would like to believe I helped move the needle for OCC in terms of how the organisation is perceived today in the marketplace, and that there is greater awareness and understanding of the vital role it plays as a CCP for the users of the US exchange-listed options markets.”
