ICAP plc (Icap), this
morning announced that Seth Johnson, currently head of strategy at its global broking
division, has been appointed CEO of EBS BrokerTec, taking over from outgoing CEO Gil
Mandelzis who, as announced on 21 July is leaving Icap.
As head of strategy for
global broking, Johnson has been responsible for growing revenues, improving
the application of technology to the company’s business model, and expanding
customer coverage. He previously led the expansion of Icap’s electronic markets
product portfolio as chief executive officer of BrokerTec and CEO of the Icap
Securities & Derivatives Exchange (ISDX), the company says.
Johnson will continue to
sit on the Icap Global Executive Management Group (GEMG) and will report
directly to CEO Michael Spencer.
Spencer says: “I would
like to congratulate Seth on his new role. His experience and understanding of
our products and our clients, and his determination to develop EBS BrokerTec
and maximise its performance for clients and shareholders alike, made him the
outstanding candidate for the position. His appointment is a testament to the
strength and depth of talent we have within Icap.
“I would also like to
reiterate my thanks to Gil, who has played a central role in building EBS
BrokerTec into the world class business it is today. Seth’s appointment is
another exciting step as Icap transitions to become Nex Group plc, the leading
venue for electronic transactions in OTC products and post trade services.”
Johnson says: “EBS
BrokerTec has expanded its offering by adding new products and capabilities to
the business, an approach that has played an important role in transforming it
into the diversified multi-product company it is today. EBS BrokerTec now has
tremendous capability to serve the broadest range of clients in both the FX and
fixed income markets. I am looking forward to working with the company’s outstanding
management team and staff to grow the business and to realise and monetise the
investments made to date. The driving force of EBS BrokerTec has always been
how to best serve its customers and this will remain our key focus”.