Bernard Dan is a long-time futures industry executive who was most recently the CEO of Sun Holdings, parent to the Chicago-based proprietary trading firm Sun Trading. He stepped down from that post on July 5, 2015. He also exited his position on Sun's board. He took over as CEO of Sun in December 2010. He first became affiliated with the firm in 2007 and has been a partial owner.
Dan is also a former CEO of the Chicago Board of Trade.
Before joining Sun Holdings, he headed his own firm, BWD Consulting, LLC, after departing as chief executive officer of MF Global in March 2010 after 17 months at the top position at the firm.
Dan's resignation as CEO of MF Global startled the industry. He resigned as CEO and as a director for personal reasons on March 23, 2010 after being promoted to the position in October of 2008. He remained with the company through May 16, 2010 in an interim capacity to ease the transition of duties to Jon S. Corzine, the incoming CEO.
Dan was appointed CEO of MF Global on Oct. 29, 2008 succeeding Kevin R. Davis, who resigned from the company and its board of directors after 17 years. Dan had previously been the firm's global chief operating officer and president after joining as North American COO on June 12, 2008. Before coming to MF Global, he was a special adviser to the CME Group from July 9, 2007, following the merger of the CME and the Chicago Board of Trade, where he served as president and CEO.
Previously, as COO of North America for MF Global, Dan was responsible for MF Global's technology and operations, including the control environment and overall administration for all MF Global's North American operating entities. He also joined the company's executive management committee.
On March 10, 2008 Dan was nominated for a position on the board of directors of Penson Worldwide, Inc. Only a few months later, on June 20, 2008, Dan delivered notice of his resignation as a member of the board of directors of Penson Worldwide. It was noted that he had recently accepted the role of chief operating officer of North American operations for MF Global. Dan's resignation was said not to be due to any disagreement with Penson.
Dan served as CEO of the Chicago Board of Trade from 2001 to 2007. He joined the CBOT in July 2001 and served as executive vice president, where he oversaw the open-auction and screen-based business units, as well as product development and marketing initiatives. He was appointed president and CEO when David Vitale resigned from that position. He was instrumental in transforming the exchange from a member-owned organization through an initial public offering in 2005. He also helped lead the company through the sale of the exchange to the Chicago Mercantile Exchange in 2007, which ultimately led to the formation of theCME Group.
Before joining the CBOT, Dan was president and CEO of Cargill Investor Services, Inc.(CIS), a wholly owned subsidiary of Cargill, Inc., the U.S. agribusiness group. He assumed the leadership role in June 1998 having joined CIS in 1985, holding a variety of operational positions while in Chicago. In 1986, he was assigned to Cargill Investor Services, London as administrative manager responsible for all operational activities. In 1989, he was assigned to the CIS New York regional office as administrative manager, and subsequently was named CIS assistant vice president in October 1991 and vice president in June 1993. He became director of Cargill Investor Services (Singapore) Pty. Ltd. upon the company’s formation in November 1994, and continued in that position until April 1997. He returned to Chicago in June 1997 and served as vice president, global head of execution, a position to which he was appointed in April 1997. He left Cargill in 2001.
Before joining Cargill, Dan worked with the National Futures Association and Schultz & Chez, LLP, a Chicago-based accountancy firm, from 1983 to 1985. He was elected to a three-year term as a governor of the Board of Trade Clearing Corporation (BOTCC), now The Clearing Corporation, in February 1999. He also served as first vice chairman of the BOTCC.
Dan is a member of the board of trustees for Fenwick High School, Oak Park, Illinois, and serves as a member of the board of regents for St. John’s University, Collegeville, Minnesota. He is also a member of The Executives Club of Chicago, The Commercial Club of Chicago and Operation Hope Incorporated – regional board of directors.
He is an Eagle Scout and is a Midwestern board member of financial literacy nonprofit Operation Hope.
Dan received a bachelor of science degree in Accounting from St. John’s University.
JLN News Feed
AITE Group report (part 1): MSCI exchange-traded derivatives and recent trends in the market structure
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.