WASHINGTON--White House hopeful Sen. Hillary Rodham Clinton (D-N.Y.) snared the endorsement of Chicago LaSalle Street chieftain and city civic leader Terry Duffy--a Bush appointee, whose backing, her campaign hopes, demonstrates her appeal across the aisle.
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Chairman Terry Duffy Endorses
Hillary Clinton for President
Duffy leads Chicago-based derivative
exchange, the world’s largest
One of Chicago’s key Republican fund-raisers, CME Group Executive Chairman Terry Duffy today announced that he is endorsing Democratic Presidential candidate Hillary Clinton for the 2008 election. CME Group is the combined entity formed by the 2007 merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT), which respectively were largest and second largest derivatives exchange in the U.S
In endorsing Clinton for President, Duffy cited her strength as a leader as well as her understanding of both domestic and international economic issues.
“Like no other candidate, Hillary Clinton crosses party lines to combine the visionary leadership and pragmatic problem-solving skills that this country needs in its President,” said Duffy. “It is critical that the U.S. retains its leadership position in the global economy and that our financial markets have the support and infrastructure needed to successfully compete globally. We need a President like Hillary Clinton who understands the important role that financial markets play in our global economy as well as the economic opportunities and risk management benefits these critical markets create for all.”
Duffy, who intends to remain a registered Republican, is Executive Chairman of CME Group, the world’s largest and most diverse exchange. CME Group is the combined entity formed by the 2007 merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT), which respectively were largest and second largest derivatives exchange in the U.S. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and alternative investment products such as weather and real estate.
Previously Duffy served as Chairman of the Board of CME and CME Holdings since April 2002 and has served as the Executive Chairman since October of 2006. He was Vice Chairman of the Board of CME Holdings Inc. from its formation in August 2001 and of the Board of CME from 1998 to April 2002. He has been a member of the exchange since 1981 and a Board member since 1995. In 2002, he was appointed by President Bush to serve on a National Saver Summit on Retirement Savings.
He also was appointed by President Bush and confirmed by the U.S. Senate in 2003 as a member of the Federal Retirement Thrift Investment Board (FRTIB). The FRTIB administers the Thrift Savings Plan, a tax-deferred defined contribution (retirement savings) plan for federal employees that currently has more than 3.5 million participants and $190 billion under management. Duffy currently serves on the Board of Directors of World Business Chicago, the Board of Regents for Mercy Home for Boys and Girls, the Board of Trustees of Saint Xavier University, the Board of Directors of the Illinois Agricultural Leadership Foundation and is Co-Chair of the Mayo Clinic Greater Chicago Leadership Council. He is also a member of the Economic Club of Chicago, the Executives' Club of Chicago and the President's Circle of the Chicago Council on Global Affairs. Since 2003, Mr. Duffy has been recognized as one of the top 100 Irish Business Leaders by Irish America Magazine. Mr. Duffy attended the University of Wisconsin-Whitewater. In 2007, he received a Doctor of Humane Letters from DePaul University.