CME's Ray to oversee non-U.S. business

CME Group Inc., the world's largest futures market, said Robert Ray will take direct responsibility for all non-U.S. business, moving to London from Chicago to direct operations.

Ray, who assumed oversight of CME's international operations in mid-2008, joined the exchange when it bought the Chicago Board of Trade. Arman Falsafi, CME's previous London-based European managing director, returned to the Chicago head office in August after a four-year stint and reported to Ray.

He will oversee sales and products for CME in Europe, Middle East Africa, Asia and Latin America, the exchange said today. He will continue to report to Rick Redding, Managing Director, Products & Services.

Ray was Senior Vice President, Business Development for the Chicago Board of Trade when it was bought by the CME and has also worked for Robertson Stephens Inc., Dean Witter Reynolds Inc., Carr Futures and Continental Grain Company. He earned his bachelor's degree from Loras College in Dubuque, Iowa.