Interactive Brokers Names Michael McClain as New Director of Client Operations

Interactive Brokers, an American multinational brokerage firm, announced that it has secured Michael McClain as New Director of Client Operations, North America. Michael will be based in Chicago and report directly to CEO Milan Galik.

In his new role, Michael will be focused on the end-to-end strategy for scaling client services to support the brisk expansion of the business into the future.

Prior to joining IBKR, Michael worked as Managing Director and General Manager of Equities Clearing Business for the Depository Trust & Clearing Corporation (DTCC), specializing in post-trade market infrastructure for the global financial services industry. He was directly responsible for the day-to-day management of equity clearing activities for trades executed on the major U.S. exchanges and other equity trading venues. Before that, he had a 15-year tenure at the Options Clearing Corporation (OCC), the world's largest equity derivatives clearing organization, where he held multiple positions.

Commented on the appointment, Milan Galik, Interactive Brokers CEO said: “We are very fortunate to have someone as capable as Mike assume Andy’s vast range of responsibilities. Mike is eager to take on the challenge of enhancing our service during a period of explosive growth in a client base ranging from active and professional traders to the casual investors who understand the importance of high quality trade execution and low margin rates.”

Last month, Fazzaco has reported on Interactive Brokers expanding news and research offerings​.