The FINANCIAL -- Intercontinental Exchange on September 17 announced that Right Honourable William Hague has joined the Boards of Intercontinental Exchange, Inc. and ICE Futures Europe. Mr. Hague will assume the role of Chairman of ICE Futures Europe in January 2016, succeeding Sir Bob Reid who is retiring from that role after 16 years of service. Sir Bob Reid continues as the Chairman of ICE Clear Europe through 2015.
Mr. Hague served as a Member of the UK Parliament from 1989 to 2015. He entered the UK Cabinet in 1995 and led the Conservative Party from 1997 to 2001. From 2010 to 2014 he served as First Secretary of State and Foreign Secretary and between 2014 and 2015 he was the First Secretary of State and Leader of the House of Commons. He was nominated for a life peerage in August 2015, according to Intercontinental Exchange.
Sir Bob became Chairman of ICE Futures Europe, then known as the International Petroleum Exchange, in 1999 where he oversaw the exchange’s demutualization, its acquisition by ICE, and its transition to a global marketplace serving a range of asset classes.
Jeffrey C. Sprecher, Chairman and Chief Executive Officer of Intercontinental Exchange recognized both individuals for their leadership.
“On behalf of the board, I would like to thank Sir Bob for his tireless energy, commitment and dedication to the exchange, our customers and shareholders over the last 16 years,” Sprecher said. “His guidance helped to create one of the world’s leading futures exchanges.”
“We welcome William as incoming Chairman of ICE Futures Europe and to the Intercontinental Exchange board. He brings a unique combination of governmental experience and a deep understanding of business. Our markets will benefit from Mr. Hague’s private and public sector expertise as we seek to continue to grow by serving our customers in new ways.”
Mr. Hague commented on the opportunity to serve in both capacities.
“I am delighted to be joining ICE, both to chair London’s largest derivatives exchange and to join the board of one of the world’s leading exchange groups,” Mr. Hague said.
“Jeff and his colleagues have turned what was a start-up in the year 2000 to one of the industry leaders, with an outstanding track record of innovation. ICE’s exchanges and clearing houses provide customers with transparency and liquidity; and the company is well-positioned to meet the regulatory demands for a more resilient financial system as markets become ever more globalised. I’m looking forward to working with Jeff and the rest of the ICE team around the world as the business moves into the next phase of its growth.”