Malcolm Clark Hutchison III

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Malcolm Clark Hutchison III
Occupation Director of the Division of Clearing and Risk
Employer CFTC
Location Washington, D.C.
LinkedIn Profile

Clark Hutchison III is a Washington, DC-based former financial services executive and grain trader who serves as the director of the Division of Clearing and Risk at the CFTC, responsible for the CFTC’s supervision of derivatives clearinghouses and their members, including oversight of clearing processes through risk assessment and surveillance. He was appointed to that role in July 2019 by CFTC Chairman Heath Tarbert.[1]

Before joining the CFTC, Hutchison spent 34 years in the U.S. financial sector, where he specialized in clearing and risk management. He was most recently a managing director and head of listed derivatives at Deutsche Bank, a position he was appointed to in November 2013.[2] Prior to that, he was global head of listed derivatives at Morgan Stanley. Earlier he was global co-head of exchange-traded derivatives for UBS Securities LLC.[3]

In addition to his private sector experience, Hutchison served as a special advisor to the board of directors of the Futures Industry Association, as a member of the Chicago Mercantile Exchange’s Risk Committee, and as a member of the board of NASDAQ Futures, Inc.[4][5]

A memo distributed internally to Morgan Stanley employees said that the appointment of Hutchison and Templer to roles where they would oversee listed derivatives like options and futures marks a significant step in the firm's plan to expand its global sales and trading business.[6] Templer later left Morgan Stanley in 2011.[7]


Hutchison worked at UBS for more than six years. Before joining UBS, he spent 18 years at Goldman Sachs (GS) working in the areas of derivatives and prime brokerage.[8] Prior to Goldman Sachs, he traded grain for five years for Bunge.[9]


Hutchison holds a bachelor’s degree in economics from Haverford College.


  1. Chairman Tarbert Announces Key Executive Leadership Appointment.
  2. Clark Hutchison to Join Deutsche Bank as Head of US Listed Derivatives. Press Release via Businesswire.
  3. Morgan Stanley Hires UBS Derivatives Heads-Memo. Reuters.
  4. Board Members. FIA.
  5. FIA Elects New Directors and Officers. FIA.
  6. Morgan Stanley Hires UBS Derivatives Heads-memo. Reuters/
  7. Morgan Stanley sheds senior derivatives execs. Financial News.
  8. Morgan Stanley Hires Two Derivatives Chiefs From UBS. Reuters.
  9. Clark Hutchison and Bill Templer: Managing Integration on a Global Scale. Futures Industry Magazine.