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Two Powerful Futures Industry Female Leaders Step Down

Kim Taylor of the CME Group and Maureen Downs of RCG have stepped down from prominent positions of power in the futures industry in the last couple of weeks.

Downs stepped down as president of RCG, a position she was named to in 2007. She is also vice chairman of the board of directors of the National Futures Association, though her board seat is up in February of 2018.

Taylor stepped down as president, global operations, technology and risk at the CME Group. She was named to the position on December 9, 2016 after Terry Duffy ascended to the CEO role at the CME on November 11, 2016, replacing Phupinder Gill.

Taylor was close to Gill as both came out of the CME Clearinghouse. Downs’ departure follows the recent death of RCG co-founder Leslie Rosenthal.

RCG CEO Scott Gordon announced internally on November 28 the news that “Maureen Downs has decided to step down as RCG President, effective December 1.”

Her responsibilities at RCG are being covered by Gordon and Jason Manumaleuna and others on the RCG executive management team. Also it was announced Brian Gaffud was promoted to senior vice president of business development in the same message.

Downs said her immediate plans were to enjoy the Christmas holiday and help her daughter with her recent engagement.

We have reached out to Taylor for an interview. Stay tuned.

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Lothian is executive chairman of John J. Lothian & Co. and editor of the John Lothian Newsletter. He publishes MarketsWiki.com, MarketsReformWiki.com, MarketsWikiEducation.com, JohnLothianNews.com and several industry newsletters.