Asset Servicing

Options Clearing Corp. picks new CEO

John Davidson was named CEO of Options Clearing Corp., the Chicago-based equity derivatives clearinghouse announced Thursday.

He replaces Craig Donohue, who will remain executive chairman of OCC, according to a news release.

Mr. Davidson was president and chief operating officer. He will not be replaced as president, a spokesman said. Scot Warren, chief administrative officer, will become COO and retain his title of executive vice president.

The appointments are pending regulatory approval of bylaw changes required to make the changes, the release said.

Mr. Donahue said in the release that he recommended the changes to the OCC board.