Mandelzis to Step Down as CEO of EBS BrokerTec

Gil Mandelzis has decided to step down from his position as CEO of EBS BrokerTec, and will be leaving the company in due course, Icap announced today. 

In a statement issued today regarding this news, Michael Spencer, CEO of Icap, hails Mandelzis as “a truly outstanding leader” of the firms’ electronic market division who has played “a central role in the successful expansion and integration of the EBS and BrokerTec businesses”.

He continues: “Gil co-founded Traiana back in 2000, a business ICAP acquired in 2007, and has undoubtedly made a lasting and meaningful contribution to the evolution of the foreign exchange (FX) and fixed income industries. He has decided, however, that his career should now take a different direction and we have accepted this.

“We now begin the search for a new CEO for EBS BrokerTec and will be looking at both internal and external candidates for what is an important and very exciting role. Gil will remain in his current position meanwhile.”

Mandelzis comments that he is “very proud” of his achievements at Icap, including the growth of Traiana as a global pre- and post-trade service provider and the significant changes that he oversaw to Icap’s electronic FX and fixed income businesses as the two were integrated into a multi-product offering.

“I have decided that it is a good time for me to start a new chapter,” he says. “I feel privileged to have had the opportunity to work closely with Michael Spencer and I have learnt so much from him during exceptional times for Icap and the financial markets overall.

“I am very grateful for the guidance, partnership and support that he has given me over the years. Together we have transformed EBS BrokerTec from a single product business to a diversified multi-product business entering new markets and geographies, and creating a very strong foundation for expansion.”

Mandelzis added that, despite his decision to leave EBS BrokerTec, the firm is exceptionally well-positioned for future growth.

He adds: “I’d like to thank everyone, especially the teams at EBS BrokerTec and Traiana, for their hard work, loyalty and commitment over the years and most notably, Michael Spencer for his unwavering support and friendship.” 

Mandelzis was appointed CEO of EBS in March 2012, after David Rutter left the firm, and in December 2014 was also handed responsibility for Icap’s electronic fixed income platform, BrokerTec. The two businesses were subsequently integrated and re-branded as EBS BrokerTec.

Prior to his appointed as head of EBS, Mandelzis was CEO of Traiana, which he co-founded in April 2000 and helped grow from a small start-up to a well-established global player the in post-trade services arena, resulting in Traiana’s acquisition by Icap in 2007.

Mandelzis has been a member of Icap’s Global Executive Management Group since 2009. He was also appointed to the New York Federal Reserve’s Foreign Exchange Committee, the Bank of England’s Joint Standing Committee and the Bank of Canada’s FX Committee.


Galen Stops

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