The International Swaps and Derivatives Association has hired Conrad Voldstad as CEO, The Wall Street Journal reports. He will replace Robert Pickel, who will assume the newly created position of executive vice-chairman.

In the new role, Voldstad will serve on the derivatives trade group’s board and continue discussions with regulators globally, including the Federal Reserve of New York. Previously, he has worked with JP Morgan as head of the derivatives group and has also held various positions at Bank of America Merrill Lynch.

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