A shake-up in the management structure at EBS, provider of an electronic foreign exchange (FX) platform owned by interdealer broker ICAP, has resulted in the departures of now-former co-heads of EBS Market Nichola Hunter and John Schoen, according to an ICAP statement.
The shake-up has also led to two promotions. Darryl Hooker is now head of EBS Market and Viral Tolat has been made global head of product for EBS. Both will report to Gil Mandelzis, CEO of EBS.
In his new role, Hooker will lead the continued development of EBS Market, the anonymous matching platform for FX and metals trading. Hooker has worked at EBS and other ICAP subsidiaries for more than 15 years, most recently as head of strategic currency initiatives, according to the company statement. In that capacity he was responsible for launching EBS’s Russian Ruble campaign and managing EBS’s Renminbi (CNH) proposition.
“Darryl has consistently led EBS’s growth in various products, working in close partnership with customers, regulators and the EBS team,” says Mandelzis in a written statement. “I am confident Darryl’s energy, drive and expertise will enable us to further grow EBS Market.”
As global head of product, Tolat will oversee the expansion, development and maintenance of EBS’s integrated product suite, which includes EBS Market, EBS Direct and EBS Liquidity Optimization, as well as new initiatives expected to come to market this year.
Tolat was previously EBS’s Chief Technology Officer, according to the statement.
“Over the past two years, EBS has transformed from a single product to a multi-product company,” says Mandelzis in a written statement. “This requires us to think differently about product discipline, infrastructure, processes and technology. Viral’s unique ability to work effectively with business and technology people, coupled with his vision and leadership, will assist EBS in developing strong product discipline whilst maximizing product innovation.”
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