CME Executive Succession Plan
CME Group names Jack Tobin next chief financial officer amid broad executive succession changes.
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Key Points
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Jack Tobin has more than 35 years of finance experience and previously worked as a principal consultant at PricewaterhouseCoopers before joining CME Group.
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Tobin’s earlier CME responsibilities included leading corporate finance; he served as managing director of that function since 2007 and previously was director of corporate finance for CBOT from 2002 to 2007.
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Matthew Render, who will become chief accounting officer, joined CME Group in August 2026 after serving as Citadel’s global head of financial reporting, accounting policy and finance transformation; he previously held roles at BP and Ernst & Young.
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John Marchese has been CME Group’s managing director and associate general counsel for litigation and information technology since 2024, before being selected to succeed Jonathan Marcus as general counsel.
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CME Group shares were trading 0.96% lower at $275.69 on Nasdaq following the announcement.
CME Group is reshaping its finance leadership. The Chicago derivatives exchange named Chief Accounting Officer Jack Tobin, 63, as deputy CFO effective November 2, 2026, with a planned promotion to CFO in March 2027 IJR. The move is part of a sweeping succession plan: current CFO Lynne Fitzpatrick becomes CEO, current CEO Terry Duffy shifts to executive chairman, and General Counsel Jonathan Marcus steps down IJR.
Tobin brings 35+ years of finance experience, including a stint at PricewaterhouseCoopers before joining CME in 2002 MarketScreener. Matthew Render, a former Citadel executive, will replace Tobin as chief accounting officer, while John Marchese takes over as general counsel IJR.
Tobin's Long Career Path Inside CME
Tobin has been CME's Chief Accounting Officer since 2015 MarketScreener. Before that, he spent years managing corporate finance — he was managing director of that function starting in 2007. When he first joined CME in 2002, he worked as director of corporate finance for CBOT, the Chicago Board of Trade IJR.
His pre-CME career included work as a principal consultant at PricewaterhouseCoopers (PwC), one of the world's Big Four accounting firms. That background prepared him to handle CME's complex accounting and financial planning needs over more than two decades MarketScreener.
Three Major Leadership Moves Announced
The promotions form one coherent plan. Terry Duffy exits the CEO role to become executive chairman. Lynne Fitzpatrick, the current CFO, gets promoted to CEO. Jack Tobin steps in as CFO. Each move cascades into the next IJR.
General Counsel Jonathan Marcus is departing. John Marchese, who has been CME's managing director and associate general counsel for litigation and IT since 2024, will take his place IJR.
New CFO Recruit From Citadel and BP
Matthew Render will step into Tobin's old role as Chief Accounting Officer. Render joined CME just this August 2026, coming from Citadel, the $62 billion hedge fund, where he led global financial reporting and accounting policy IJR.
Before Citadel, Render worked at BP (the oil company) and Ernst & Young, another Big Four firm. His track record in finance transformation made him a logical choice to fill Tobin's accounting slot IJR.
Stock Dips After Succession News
CME Group shares fell slightly following the announcement. Stock traded down 0.96% to $275.69 on Nasdaq IJR. The modest decline suggests investors view the transition as orderly rather than disruptive.
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