Chicago–(July 21) Ketan B. Patel will join the Chicago Fed’s economic research department on July 21 as policy advisor and head of financial markets risk analysis in the financial markets group. Patel will report to vice president Alessandro Cocco.
Patel will be responsible for analyzing the public policy implications of risks in financial markets and financial market infrastructures. The group’s research on financial market institutions, technology and infrastructure helps inform and foster stable and efficient national monetary, financial and payments systems.
Patel brings 19 years of risk management and research experience to this position and has managed risk through numerous stressed market events. Most recently, he was Chief Risk Officer of OTC Clearing and Deputy Group Risk Officer of Hong Kong Exchanges and Clearing Limited (HKEX), where he oversaw a division of over fifty risk management professionals across China, Hong Kong, Singapore, and the U.K. Patel led post-trade initiatives including the development of HKEX’s next-generation risk models and Stock & Bond Connect, and established two new central counterparties, OTC Clear HK Ltd and LME Clear. Additionally, he served as Vice-Chair of CCP12, the international association of central counterparties, and co-Chair of the CCP12 Risk Working Group. Before joining HKEX, Patel was executive director of OTC risk management at CME Clearing.
Patel received an MBA from the University of Chicago Graduate School of Business and a bachelor of science from Purdue University.