In addition, EBS BrokerTec hires a sales executive from Barclays while TMX Group, Speakerbus and SETL also have People Moves news.
EBS BrokerTec Also Names Jim Iorio as Global Sales Head
Interdealer broker and post-trade services vendor ICAP is searching for a new CEO for its subsidiary EBS BrokerTec as Gil Mandelzis, the current CEO, has decided to step down “and will be leaving the company in due course,” officials say.
“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,” says Michael Spencer, CEO of London-based ICAP, in a prepared statement. “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.”
Overall, Mandelzis played a “tremendous role” in in building the electronic markets division, Spencer adds. “We are very excited about the future as ICAP transitions to become NEX Group plc and whoever takes over this role will play an important part in that future.’’
In May, ICAP officials announced that it intends to rebrand as a fintech-focused company and rename itself following the completion of the agreement to sell its hybrid voice broking and information business to interdealer broker Tullett Prebon.
“Although I have decided to leave, I believe that EBS BrokerTec is exceptionally well positioned for growth,” Mandelzis says in a statement. He cites “Traiana’s significant growth, positioning it as a global player in pre- and post-trade services” and the transformation of ICAP’s electronic FX and fixed income businesses “into a fully integrated multi-product” offering.
“I have decided that it is a good time for me to start a new chapter,” Mandelziz. “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.”
In other People Moves, EBS BrokerTec reports that Jim Iorio has joined as global head of sales.
Jim Iorio, global head of sales, EBS BrokerTec
Iorio will be based in New York, and will join the executive management committee and report to Gil Mandelzis, EBS BrokerTec CEO, according to a statement that also notes his responsibility for “all sales across both the EBS and BrokerTec platforms, spanning multiple asset classes and products.”
He joins from Barclays, where he was global head of currency and commodities distribution, per EBS BrokerTec.
“During his career at both Barclays and Lehman Brothers, he has held a wide variety of senior roles across fixed income asset classes, and has extensive experience leading high-performing global organizations through significant change and business cycles,” according to an EBS Brokertec.
TMX Group Taps NYSE for Chief Information Officer
Toronto-headquartered TMX Group Ltd. reports the appointment of Jay Rajarathinam as chief information officer, effective immediately.
Rajarathinam reports to Jean Desgagné, president and CEO, global enterprise services at TMX, and is “responsible for the development and execution of the overall technology vision and strategy” for the company, which is a collection of transaction venues, according to a statement, which notes that his additional “focus includes managing IT client delivery, optimizing the company’s technology assets, and leading TMX Group’s ongoing technology operations and integration initiatives.”
Rajarathinam has almost 20 years of financial services technology experience, the company says. Most recently, he served as a senior vice president, global head of infrastructure at NYSE/Intercontinental Exchange.
TMX Group’s subsidiaries include the Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, the Canadian Depository for Securities, the Montréal Exchange, the Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, AgriClear and others.
Speakerbus Adds Systems Engineer for North America
U.K.-based Speakerbus, the specialist in voice solutions for financial institutions, reports that Michael F. Hutt, adjunct professor, electrical and computer engineering, at the New York Institute of Technology, will join in the new position of consulting systems engineer for North America.
Hutt’s “achievements encompass development of trading floor technology and co-founding (and holding the role of principal software engineer) at Router Management Solutions, Inc., where he developed the advanced Multicast Management Tool and Route Monitoring Tool for managing multicast networks,” according to a statement. The company’s intellectual property was subsequently bought by networking solutions giant Cisco Systems, and Hutt moved to Cisco.
SETL Bolsters Board, Completes First Fundraising Round
SETL, the London-based institutional payment and settlement infrastructure startup that bases its wares on blo
Sir David Walker, SETL chairman
ckchain/distributed ledger technology, reports the completion of its first round of private fundraising and the addition of two new members to its board.
The new board members are Rachel Lomax, former deputy governor of the Bank of England, and Ed Richards, former CEO of Ofcom. They join industry veteran SETL Chairman Sir David Walker, the former Barclays chairman.
SETL will also “shortly announce the name of a further appointment to the board, who is an experienced executive board member and non-executive in government, including at agencies in the national security sector,” the company, which was launched in July 2015, says in a statement.
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