He has become a member of the Audit and Remuneration Committees of ICAP's board.

Michael Spencer, ICAP's Group Chief Executive commented, "David brings significant experience at a very senior level in markets in which we operate. I am sure that we will benefit from his broad knowledge of the foreign exchange, commodities and emerging markets."

David, 51, is President of The Eriska Group, a risk management consultancy focussed on alternative investments and funds management. He is also a board member and senior advisor at J H Whitney Investment Management. He was formerly Managing Director and Member of JPMorgan Chase's Executive Committee and JPMorgan Investment Bank Management Committee responsible for the investment bank's business in emerging markets, currencies and commodities. This included all trading, sales and research activities for these businesses globally as well as the client banking business in Latin America. He began his career at Chemical Bank, now part of JPMorgan Chase.

David is also very active in the business community. He has previously served on the board of the Federal Reserve Foreign Exchange Committee and was a director of the Chicago Mercantile Exchange for two years until 1999. Among a number of charitable interests he is a board member and keen supporter of the Robin Hood Foundation, a charity involved in fighting poverty in New York City.

Separately, James McNulty, who was appointed a non-executive director of Icap in March 2004, has been appointed to the role of Icap's senior independent director with effect from 15 November 2007.