Options Clearing Corporation (OCC), considered the world’s largest equity derivatives clearing organization, has announced the appointment of Stephen Luparello as their new chairman.

In a press release, the company said “Mr. Luparello is a Public Director on OCC’s Board of Directors, most recently serving on the Compensation and Performance Committee (Chair) and the Regulatory Committee (Chair).”

He has replaced Craig Donohue, who resigned to pursue a different career, the company has said.

According to OCC’s website: “Luparello was Managing Director and General Counsel for Citadel Securities from 2017 until he retired in 2022.”

He has also spent time at the SEC between 2014 and 2017, as Director for the agency’s Division of Trading & Markets. His career includes stints as a partner at WilmerHale, specializing in broker-dealer compliance and regulation, securities litigation, and enforcement, according to his OCC profile.

Before that, he spent “16 years at the Financial Industry Regulatory Authority and its predecessor, the National Association of Securities Dealers, where he served in a number of senior regulatory roles, including Vice Chairman of FINRA.”

He has a Juris Doctor from Washington & Lee University and a Bachelors of Arts from LeMoyne College.