SunGard makes two senior hires for collateral management and energy businesses

Pennsylvania-based technology firm SunGard Trading and Risk Systems has hired Michael Clarke as a senior vice-president of the SunGard Collateral operating unit, while Michael DeMaise has joined the energy operating unit as vice-president of product development.

Clarke is a founder and current co-chair of the Collateral Committee of the International Swaps and Derivatives Association, and was most recently the group vice-president of now-bankrupt risk technology firm Cygnifi. At Cygnifi he was responsible for the creation of the Trinity legal information service, which provided research and analysis on the legal risks inherent in cross-border collateralisation. He was also responsible for Cygnifi’s CollateralManager, an online service for collateral management, and supervised the firm’s collateral consulting practice.

Prior to Cygnifi, Clarke spent 13 years at JP Morgan, where he was global head of collateral, responsible for the 70-strong team managing the firm’s portfolio of over 1,500 collateralised counterparties, over 100,000 transactions and in excess of $22.5 billion of collateral.

Michael DeMaise joins SunGard from Enron Broadband Services, where he was director of European network engineering and operations, responsible for assembling and operating the European broadband network. Prior to Enron, DeMaise spent 12 years at the National Aeronautics and Space Administration at the Johnson Space Center in Houston, Texas.