Eric Litvack was named chairman of the International Swaps and Derivatives Association, effective Jan. 1.
Mr. Litvack will replace Stephen O’Connor, who has chaired the board since April 2011. Mr. O’Connor had been managing director at Morgan Stanley until June 2013, when he became full-time chairman of the ISDA. Mr. O’Connor is leaving “to pursue other interests,” said Nick Sawyer, ISDA spokesman.
Mr. Litvack is managing director and head of regulatory strategy at Societe Generale’s global banking and investor solutions business. He will remain in that role while serving as ISDA chairman, Mr. Sawyer said.
Mr. Litvack’s appointment comes less than four months after Scott O’Malia, former commissioner of the Commodities Futures Trading Commission, was named CEO of the ISDA. Mr. O’Malia replaced Robert Pickel, who is now on the advisory board at Droit Financial Technologies, a derivatives compliance firm, according to Droit’s website.
The ISDA represents over-the-counter market participants and service providers such as exchanges, clearinghouses and law firms.