ICAP appoints Seth Johnson CEO of EBS BrokerTec

9th Sep 2016 07:45

(ShareCast News) - Market operator and information service provider ICAP appointed Seth Johnson chief executive of EBS BrokerTEC, ICAP's foreign exchange and fixed income global markets division.He will take over from Gil Mandelzis, who left ICAP on 21 July.Johnson initially joined ICAP as a graduate trainee twenty years ago and was previously head of the company's global broking division. He also led the expansion of the company's electronic markets product portfolio as chief executive of BrokerTec and ICAP's securities and derivatives exchange.The FTSE 250 company said that he will continue to sit on ICAP's global executive management group and will report to ICAP chief executive Michael Spencer.Spencer said: "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."Johnson added: "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 foreign exchange and fixed income markets. ... The driving force of EBS BrokerTec has always been how to best serve its customers and this will remain our key focus".Shares in ICAP were down 0.36% to 496p at 0800 BST.