Former commissioner of the Commodity Futures Trading Commission Scott O’Malia was appointed chief executive officer of the International Swaps and Derivative Association, the association announced Wednesday.

O’Malia’s appointment will become effective on Aug. 18, the ISDA said. He will succeed Robert Pickel, who announced that he would be leaving the association in April after working there for 17 years. Pickel praised O’Malia, and said that he would serve as a great asset to the ISDA.