Career Rudolf Ferscha

1 career

1.1 career
1.2 goldman sachs
1.3 eurex/deutsche börse ag

career
early career

originally banking , corporate finance lawyer in vienna. became managing director of efb, erste finanz-beratung, subsidiary of erste bank, in 1988, advising on international project finance , corporate finance. 1990 1997 ferscha running erste bank’s london office, including capital markets , derivatives trading subsidiary first austrian international, fsa regulated securities house. ferscha became responsible group-wide treasury , asset/liability management of erste bank in 1994.

goldman sachs

in 1997 ferscha joined goldman sachs group llp, in london, , in 1998 joined goldman sachs ohg bank’s management board in frankfurt, finance director , chief operating officer. became co-managing director of frankfurt derivatives , warrants sales , trading.

eurex/deutsche börse ag

ferscha joined deutsche börse ag executive board member goldman sachs, investment bankers, shortly before company’s ipo. 2000 2005 ceo of eurex, world’s largest futures exchange, co-owned 50/50 (profit distribution: 80/20) deutsche börse ag , swx swiss exchange respectively, , ceo of eurex clearing ag ceo of swiss derivatives exchange eurex zürich. 2003 ran xetra division of deutsche börse ag , served chairman of management board of frankfurt stock exchange. eurex , xetra divisions accounted more half of deutsche börse ag’s revenues.

ferscha focused on profitability, global distribution, , on organic growth. extension foreign markets yielded market share gains in international index contracts eurostoxx 50, in dutch, french , italian equity options. in 2002 eurex became highest volume equity options exchange. share of eurex products sold customers grew 5% in 2000 25% in 2005, profit growth eur 38m in 1999 175m in 2005. ferscha propagated equal , open access financial markets through global liquidity network. proposed comprehensive regulation capture systemic risk, balanced approach towards hedge fund regulation , more inclusive approach over-the-counter markets.

eurex developed own over-the-counter electronic trading platforms; eurex bonds , eurex repo, , included 17 brokers, clearers , banks in shareholder base of eurexus. futures industry association, federal reserve chairman alan greenspan , german finance minister hans eichel supported application become us-regulated exchange. in negotiating 15% participation in board of trade clearing corporation, ferscha obtained eurex’s access clearing directly in , market-user shareholders of company guaranteed eurexus’s turnover first 3 years. shareholders of board of trade clearing corporation voted eurex deal , against unsolicited take-over offer chicago board of trade. ferscha hired goldman sachs futures head michael mcerlean , head of chicago mercantile exchange’s product development division satish nandapurkar lead eurex us, 70% of sold man group $23.2 million 2 years later.

ferscha reformed allocation of specialist mandates on frankfurt stock exchange individual brokers according performance criteria , opened specialist roles firms headquartered outside germany. when mandating redesign of interior of frankfurt stock exchange building in 2005 preserved traditional trading floor of exchange , trademark magnetic blackboard. introduced new market segment entry standard in cater smaller , less mature businesses, following earlier closure of “neue markt”. entry standard attracted 71 listings in first year, becoming largest alternative investment market in continental europe.

ferscha reported potential candidate assume deutsche borse ag ceo role after company’s ceo werner seifert , chairman rolf breuer left in 2005, pressured funds including tci , atticus ferscha lost out on role reto francioni, chairman of swx swiss exchange, deutsche borse’s junior partner in eurex. hedge funds proposed hypo real estate’s kurt viermetz chairman, hired, francioni ceo in november 2005.

in december 2005 ferscha resigned deutsche borse group, followed several other senior management departures succeeded frank gerstenschlager, given responsibility xetra-division (equities, funds , warrants), , andreas preuss given responsibility eurex division (derivatives , clearing).