ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, is pleased to announce that Seth Johnson, currently Head of Strategy at ICAP's Global Broking division, has been appointed CEO of EBS BrokerTec.
Seth takes over from Gil Mandelzis who, as announced on 21 July 2016, has decided to leave ICAP.
As Head of Strategy for Global Broking, Seth has been responsible for growing revenues, improving the application of technology to the company's business model, and expanding customer coverage. Seth previously led the expansion of ICAP's Electronic Markets product portfolio as Chief Executive Officer of BrokerTec and CEO of the ICAP Securities & Derivatives Exchange (ISDX).
Seth will continue to sit on the ICAP Global Executive Management Group (GEMG) and will report directly to ICAP CEO Michael Spencer.
Michael Spencer, CEO of ICAP, said: "I would like to congratulate Seth on his new role. His experience and understanding of our products and our clients, and his determination to develop EBS BrokerTec and maximise its performance for clients and shareholders alike, made him the outstanding candidate for the position. His appointment is a testament to the strength and depth of talent we have within ICAP.
"I would also like to reiterate my thanks to Gil, who has played a central role in building EBS BrokerTec into the world class business it is today. Seth's appointment is another exciting step as ICAP transitions to become NEX Group plc, the leading venue for electronic transactions in OTC products and post trade services.''
Seth Johnson said: "EBS BrokerTec has expanded its offering by adding new products and capabilities to the business, an approach that has played an important role in transforming it into the diversified multi-product company it is today. EBS BrokerTec now has tremendous capability to serve the broadest range of clients in both the FX and fixed income markets. I am looking forward to working with the company's outstanding management team and staff to grow the business and to realise and monetise the investments made to date. The driving force of EBS BrokerTec has always been how to best serve its customers and this will remain our key focus".