EBS BrokerTec, ICAP’s foreign exchange (FX) and fixed income business unit, has appointed Tim Cartledge as its newest Chief Strategy Officer, according to an EBS statement.
Mr. Cartledge will be based out of London and will join EBS BrokerTec with immediate effect, where he will report to Gil Mandelzis, the group’s Chief Executive Officer (CEO). His appointment will also see him added to EBS BrokerTec’s Executive Management Team as well as ICAP’s Global Executive Management Group.
In his new role as EBS BrokerTec’s Chief Strategy Officer, Mr. Cartledge will be tasked with managing and guiding the group’s overall strategy and vision, which follows directly after the assimilation of EBS and BrokerTec earlier this year.
He joins EBS BrokerTec from Barclays Bank, having served in a number of senior level roles at the lender, dating back to 2004 when he joined the group. During his tenure he held such positions as Global Fixed Income Currencies and Commodities (FICC) Electronic Trading, Global Head Spot FX and BARX FX Trading, and the Head of FX Asia, among others.
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According to Michael Spencer, Group CEO of ICAP Plc and Chairman of EBS BrokerTec, in a recent statement on the appointment, “Since combining EBS and BrokerTec under Gil Mandelzis we have made great progress in integrating our products, services and technology.”
“We have ambitious plans to further grow our electronic broking business and I am delighted that Tim has agreed to join EBS BrokerTec to help execute on our strategy. Tim joins with an impressive track record and tremendous experience in the markets we operate in. I look forward to working with Gil and Tim to execute on our strategy of expanding our addressable market,” he added.
“Over the past three years, we have steadily been building our EBS and BrokerTec product offerings to offer a diverse range of liquidity and trading styles to a much broader array of customers. Having completed the integration of both businesses, we have laid the foundations for the next stage in our growth and development. We are thrilled that Tim has agreed to join EBS BrokerTec and help us take our electronic fixed income and FX offering to the next level,” noted Gil Mandelzis, CEO of EBS BrokerTec in an accompanying statement.
“The EBS and BrokerTec platforms are extremely well-regarded as industry leaders in the FX and fixed income markets. Over the past few years EBS has transformed itself into a multi-product, growth business and built a very strong foundation for expansion. EBS BrokerTec is exceptionally well positioned to lead the market in the years to come and I am looking forward to being part of this exciting journey,” reiterated Mr. Cartledge.
Last month, EBS BrokerTec made headlines after it acquired Molten Markets in a bid to bolster the available services for its electronic trading platform. Molten Markets is a provider of FX services such as transaction cost analysis and execution management for asset managers and pension funds.