Interdealer broker Icap has appointed Deutsche Bank veteran Mark Price as group chief operating officer.
Price will join the firm in October, subject to FSA approval, overseeing its IT infrastructure as well as looking after risk, compliance and human resources.
He replaces Mark Yallop who made clear his intention to quit Icap in May after six years in the role but who has stayed on until his replacement was found.
The new man comes in after 13 years at Deutsche Bank, where he most recently acted as COO for global credit and emerging market debt. He has also worked at Merrill Lynch in London as product controller for credit derivatives and at Ernst and Young as a senior auditor.
Michael Spencer, CEO, Icap, says: "This appointment reflects our belief in maintaining the strong control environment and robust risk management we have developed as financial regulation is strengthened and market infrastructure changes."