TP ICAP, the world’s largest inter-dealer broker, announced today that its Chairman, Rupert Robson, will retire at the end of the year. Robson has been on the board for eleven years, and his announcement comes at a time of strategic shifting for the company.
Robson’s retirement will come into effect at the end of 2018 – the end of TP ICAP’s fiscal year. He joined the firm’s board in 2007 and became chairman in 2013. The search for a new chairman to head up TP ICAP’s board will be led by Angela Knight, Senior Independent Director of the Company.
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Commenting on Robson’s announcement, John Phizackerley, CEO TP ICAP, said: “We thank Rupert for his enormous contribution to TP ICAP. Under his Chairmanship the group has been transformed, and looks to the future with a clear strategy for growth. I have thoroughly enjoyed working with him, and wish him well in his future endeavours.”
Robson leaves the company in a transitional period. In his comments on the company’s most recent annual report, Robson noted that the firm’s integration of NEX Group’s voice broking and information business was 50 percent complete. TP ICAP acquired the voice broking and information business for £1.28 billion ($1.70 billion) at the end of 2016.
The outgoing chairman discussed his decision to retire, saying: “After almost 12 years on the Board, and as the Company develops its strategy for the period following integration, it is timely for me to retire at the end of this year. This is part of the process of considering the Board’s composition in the current year, as I flagged in my governance letter to shareholders in the 2017 Annual Report. I look forward to the continued success of the Company in the coming years.”