Craig Donohue has agreed to stay on as executive chairman and chief executive officer at equity derivatives clearing house OCC.

Donohue, the former head of rival CME, will remain at the helm of OCC for another three years, the firm said on Monday.

The company, which acts as a CCP for derivative and stock loan trades, also announced several changes to its leadership structure at the start of the week.

Michael McClain is the new chief operating officer while Scot Warren has been promoted to a new role as chief administrative officer.

“We have made significant and positive strides at OCC on behalf of our partner exchanges and clearing firms,” said Donohue.

“OCC is evolving from a clearing and settlement utility to becoming a systemically important market influencer, with increased emphasis on risk management and the resiliency required to effectively manage risk for the US listed equity options and futures markets.

"The enhancements we are making to our leadership structure will strengthen our ability to better serve market participants, and reflect our organisational agility and the deep bench strength of our team.”

Meanwhile, John Fennell is the company’s new chief risk officer. Dale Michaels has replaced Fennell as head of financial risk management.

Adi Agrawal has been promoted to chief audit executive, where he will be responsible for strengthening and managing OCC’s internal controls processes.

Julie Bauer joins OCC as senior vice president, government relations. 

She will be responsible for developing and managing OCC’s legislative, regulatory and educational activities with members of Congress, regulators and other policy makers.

Chip Dempsey joins OCC in a new role of chief commercial officer, and will lead OCC’s efforts in strategy, planning, and business and product development.