Nodal Clear Announces Executive Leadership Transition to Accelerate Growth and Innovation
Nodal Clear, a leading North American clearing house for energy and commodity derivatives, today announced a strategic executive leadership transition, effective May 1, 2026. As part of the transition, Demetri Karousos will assume the role of Chief Executive Officer, while Huan Zhang will step into the role of President. Both leaders bring extensive experience and a long-standing commitment to Nodal Clear, having been instrumental in the company’s development and success since its inception.
Demetri Karousos will continue to serve as President and Chief Operating Officer of Nodal Exchange, Nodal Clear’s affiliated trading platform. Huan Zhang will maintain his position as Chief Risk Officer of Nodal Clear, further strengthening the company’s leadership in risk management. Paul Cusenza, who has led Nodal Clear since its founding, will remain actively involved as Chairman of the Board for Nodal Clear and will continue his dual role as CEO and Chairman of Nodal Exchange.
Commenting on the leadership transition, Paul Cusenza said, “We are thrilled to have Demetri and Huan step into these leadership roles at Nodal Clear. Both have been central to our success from day one, and their leadership, vision, and deep understanding of the industry will continue to ensure that Nodal Clear remains a premier and innovative clearing house in North America. Their appointment is a natural evolution as we continue to focus on growth, technology innovation, and exceptional service to the markets we serve.”
A Vision for Growth and Market Leadership
Demetri Karousos expressed his enthusiasm for the new role, emphasizing the company’s evolving position in the derivatives industry. “I am honored to lead Nodal Clear at such a dynamic time for energy and commodity derivatives. The markets we serve are undergoing rapid transformation, and I look forward to working with our talented team to continue delivering innovative solutions, enhancing clearing services, and expanding Nodal Clear’s market leadership. Our goal is to build on the exceptional foundation that Paul and the team have established, driving innovation while maintaining the highest standards of operational excellence and risk management,” he said.
Huan Zhang, assuming the additional responsibility of President, noted the opportunities ahead. “Taking on the role of President is both an honor and a challenge I eagerly embrace. Nodal Clear is exceptionally well-positioned as a clearing house, with robust systems, a strong team, and a commitment to the markets we serve. I look forward to partnering with Demetri and our colleagues across the organization to provide comprehensive, reliable, and innovative risk management services to the North American derivatives markets,” Zhang stated.
Extensive Experience Driving Operational Excellence
Demetri Karousos joined Nodal Exchange in January 2008 and has been integral to the growth and operational excellence of both Nodal Exchange and Nodal Clear. He was appointed President and Chief Operating Officer of Nodal Exchange and President of Nodal Clear on March 1, 2022, following his tenure as Chief Risk Officer of Nodal Clear. In his role as President, Karousos oversees technology, operations, risk, and clearing services, providing strategic direction across the company’s core functions.
Karousos played a pivotal role in the development of Nodal’s risk methodology and was key to the clearing house transition from LCH.Clearnet Ltd. to Nodal Clear. His career spans both industry and management consulting, including early roles at Cambridge Energy Research Associates and Williams Energy Marketing & Trading, where he focused on the international natural gas market. Karousos holds a Bachelor of Arts in Economics from Harvard University, equipping him with both analytical and strategic insights that have informed Nodal Clear’s operational and financial strategies.
Huan Zhang brings deep expertise in risk management, strategy, and operational leadership. He has served as Chief Risk Officer for Nodal Clear since March 1, 2022, overseeing the company’s Risk Team and ensuring adherence to rigorous risk protocols. Zhang joined Nodal Exchange in May 2009, playing a central role in both the establishment of Nodal Clear—which launched in October 2015—and its ongoing strategic development.
Between 2019 and 2021, Zhang further expanded his global experience by managing clearing operations at the Dalian Commodity Exchange and leading the product and operations team at the Guangzhou Futures Exchange in China. His international experience brought invaluable insights into market risk management, operational efficiency, and product development. Zhang began his career as a strategy consultant at Dean & Company, providing advisory services to clients across various industries.
Zhang holds a Ph.D. in Chemical Engineering and a Master of Science in Chemical Engineering Practice (MSCEP) from the Massachusetts Institute of Technology. He also earned a Master of Science and a Bachelor of Science in Chemical Engineering from Tsinghua University. His combination of technical expertise, strategic acumen, and operational experience positions him well to lead Nodal Clear into its next phase of growth.
Strategic Growth and Innovation
Nodal Clear has long been recognized for its innovative approach to clearing services in the North American energy and derivatives markets. The company’s platform supports a wide range of commodities, including power, natural gas, and environmental products, providing participants with transparent, secure, and efficient clearing solutions. Over the past decade, Nodal Clear has expanded its capabilities, including the integration of advanced risk management systems, operational technology enhancements, and strategic market initiatives designed to support the evolving needs of its members.
The leadership transition represents a key step in Nodal Clear’s ongoing strategy to strengthen its market position, enhance operational resilience, and drive innovation. With Karousos and Zhang at the helm, the company is poised to capitalize on emerging market opportunities, expand its product offerings, and continue providing industry-leading risk management and clearing services.
Paul Cusenza added, “This transition ensures continuity while also introducing fresh leadership perspectives that will guide Nodal Clear through the next stage of growth. Demetri and Huan’s proven track records and intimate knowledge of both the operational and strategic aspects of our business will enable the company to navigate the evolving energy derivatives landscape with confidence.”
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