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Phupinder Gill
Chief Executive Officer
CME Group

In May, Craig Donohue (No. 2 last year) retired after eight years as CEO of CME Group and handed the reins to Phupinder Gill, a 24-year veteran of the $3.3 billion-in-revenue derivatives colossus. Gill, who had been president of CME Group since 2007 and president and COO of CME Holdings since 2004, may not have had the high public profile of Donohue and executive chairman Terrence Duffy when they steered the Chicago Mercantile Exchange from mutual to public ownership in 2002. Nor was Gill the hands-on architect of CME's technological centerpiece, the Globex electronic platform, which handles some 85 percent of CME trades. For that he credits CIOs James Krause (1985–2008) and Kevin Kometer (2008–present). But neither was Gill, 51, an idle bystander, as operations, products and services, technology and enterprise solutions were among the functions reporting to him in recent years. He was president of CME Clearing from 2000 to 2003, helping prepare the way for the landmark 2007 merger with the Chicago Board of Trade, and serves on the boards of exchanges in Malaysia and Mexico, two of CME's key strategic and technological allies. Globalization defines CME strategy, and "technology enables that," Gill says. "Improvements and excellence in technology" became a principal focus around the turn of the century, and "now we are a technology-based company."