ICAP executive raises £2.5m from sale

8th Feb 2011 17:14

ICAP chief operating officer Mark Yallop has raised more that £2.5m from selling around 30% of his stake in the derivatives broker. He sold 459,000 shares at 551.36p a share. Yallop still owns just over 1.07m shares in ICAP. Yallop has been chief operating officer since July 2005. He was previously at Deutsche Bank. Last week ICAP said that increased volatility in financial markets helped it in the run-up to Christmas, with revenues over the three months to December up by 9%, in line with its first half. "Trading across the group's businesses is in line with our prior forecasts and the guidance given at the half year results in November 2010, at which time we stated that we expected pre-tax profits of between £333m and £357m for the year to March 2011," the firm said.Top Director Buys St. Modwen Properties (SMP) Director name: Mr Steve BurkeAmount purchased: 27,628 @ 171.00p Value: £47,244Top Director Sells ICAP (IAP) Director name: Mr Mark YallopAmount sold: 459,000 @ 551.36p Value: £2,530,742SThree (STHR) Director name: Mr Gary EldenAmount sold: 110,723 @ 397.03p Value: £439,604SThree (STHR) Director name: Mr Russell ClementsAmount sold: 103,737 @ 397.03p Value: £411,867