Electronic trading major Interactive Brokers Group, Inc (NASDAQ:IBKR) announces the appointment of Michael McClain as Director of Client Operations, North America.
Reporting directly to CEO Milan Galik, Mr McClain is based in IBKR’s Chicago office. In this new role, Mr McClain will be focused on the end-to-end strategy for scaling our client services to support the brisk expansion of Interactive Brokers’ business into the future.
Michael McClain is taking over the responsibilities of Andy Naughton, who is retiring. Over his 15-year career at IBKR, Mr Naughton has been instrumental in building up Interactive Brokers’ Client Operations capabilities during a period of dynamic expansion.
“We are very fortunate to have someone as capable as Mike assume Andy’s vast range of responsibilities,” said Milan Galik, Interactive Brokers CEO. “Mike is eager to take on the challenge of enhancing our service during a period of explosive growth in a client base ranging from active and professional traders to the casual investors who understand the importance of high quality trade execution and low margin rates.”
Before joining IBKR, Michael McClain was the Managing Director and General Manager of Equities Clearing Business for the Depository Trust & Clearing Corporation (DTCC), specializing in post-trade market infrastructure for the global financial services industry. He was directly responsible for the day-to-day management of equity clearing activities for trades executed on the major U.S. exchanges and other equity trading venues.
Prior to that, he had a 15-year tenure at the Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization, where he held multiple positions.
Michael McClain earned an MBA from Northwestern University – Kellogg School of Management and a BA in Information Systems Management from Lewis University.