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ICAP plc appoints Seth Johnson CEO of EBS BrokerTec
09 Sep 2016
ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, is pleased to announce that Seth Johnson, currently Head of Strategy at ICAP’s Global Broking division, has been appointed CEO of EBS BrokerTec. Seth takes over from Gil Mandelzis who, as announced on 21 July 2016, has decided to leave ICAP.
As Head of Strategy for Global Broking, Seth has been responsible for growing revenues, improving the application of technology to the company’s business model, and expanding customer coverage. Seth 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).
Seth will continue to sit on the ICAP Global Executive Management Group (GEMG) and will report directly to ICAP CEO Michael Spencer.
Michael Spencer, CEO of ICAP, said: "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."
Seth Johnson said: "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."
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Notes to Editors
Seth Johnson previously held the role of Head of Strategy for Global Broking, responsible for developing the division’s strategy, focusing on growing revenue, improving the application of technology to its business model and expanding customer coverage. Prior to this, Seth led the expansion of ICAP’s Electronic Markets product portfolio in his role as Chief Executive Officer of both BrokerTec and ISDX. He joined ICAP from university as a graduate trainee and has worked in the Company for more than 25 years. For ten years, Seth was the Managing Director of the interest rates options and inflation swaps desks where he oversaw the introduction of new and innovative trading solutions, including the volume match system.
About EBS BrokerTec
An award-winning division of the ICAP Group at the heart of the foreign exchange and fixed income global markets, EBS BrokerTec is a market-leading e-trading technology and solutions provider, offering access to multiple execution options and diverse, valuable liquidity. Constantly creating new, ground-breaking solutions, while continuously investing in proven, market-leading platforms and products, the business provides exceptional value to a globally diverse community of professional traders. For more information, go to www.ebsbrokertec.com.
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.