ICAP plc, a markets operator and provider of post trade risk mitigation and information services, today announced that Seth Johnson, currently Head of Strategy at ICAP’s Global Broking division, has been appointed CEO of EBS BrokerTec.
Johnson takes over from Gil Mandelzis who decided to leave ICAP in July.
As Head of Strategy for Global Broking, Johnson was responsible for growing revenues, improving the application of technology to the company’s business model, and expanding customer coverage.
He 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).
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Johnson joined ICAP from university as a graduate trainee and has worked in the company for more than 25 years. For ten years, he was the managing director of the interest rates options and inflation swaps desks where he oversaw the introduction of new and innovative trading solutions, including the volume match system.
Seth Johnson’s appointment is a testament to the strength and depth of talent we have within ICAP.
Johnson will continue to sit on the ICAP Global Executive Management Group (GEMG) and will report directly to ICAP CEO Michael Spencer.
Commenting on Johnson’s new role, Michael Spencer 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”.
Johnson’s appointment is a further step in ICAP’s transition to become NEX Group, the leading venue for electronic transactions in OTC products and post trade services.
Johnson said: “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”.