Market sources say that Dan Marcus, co-head of the UK operations of inter-dealer broker Tradition and CEO of ParFX, is leaving the firm. His departure coincides with the firm announcing strong first quarter financial results as it benefited from the volatility in financial markets.
Marcus joined Tradition in 2007 as general counsel, from a similar role at the London Stock Exchange. In 2011 he assumed the role of CEO of Trad-X, the firm’s hybrid broking solution, and in 2013 he was appointed CEO of ParFX, one year after it was transitioned into Tradition by a group of founding banks. At the same in 2013 he was appointed global head of strategy and business development for Tradition Group, before being appointed to co-run the UK operations of the firm.
His next destination is not known, but the sources say his departure is planned and that he will work with his co-head of UK operations Mike Anderson as part of a transition plan. Anderson has been appointed sole head of UK.