TP ICAP, the world’s largest interdealer broker, today named Bruce Messing as a Senior Sales Manager, based out of New York City.
Mr. Messing is assuming his new role effective this month as the company lines up more industry veterans at a challenging time for an interdealer broking sector, which is being ravaged by technological and structural change.
The company, which earns its bread from making markets in different asset classes, employs thousands of brokers who negotiate trades in markets such as FX and commodities.
The City broker copes with weak financials
Mr. Messing joins TP ICAP from Broadridge FXL, which provides transaction processing software for FX, treasury, and cash management businesses within the financial services industry. During his three-year tenure with Broadridge, he held the positions of vice president of strategic solutions sales and head of client services.
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Prior to that, Bruce spent nearly nine years at Thomson Reuters as Head of FX Sales for US and Canada.
Earlier in his career, which dates back to 1989, Messing acted as vice president of FX trading desk at Danske Bank for over 11 years. Other stops include serving as a senior salesperson for buy-side and sell-side execution platforms at Bloomberg Tradebook, part of a lengthy career that spanned over three decades.
TP ICAP was formed two years ago following Tullett Prebon’s acquisition of the voice-broking business from its former rival interdealer broker ICAP. TP ICAP’s data and analytics division is a provider of real-time price information from the global OTC financial and commodity markets, covering data from the wholesale inter-dealer brokered financial markets.
Weak growth in revenues and profits in the second quarter sent TP ICAP’s shares plummeting by almost 15 percent, which came a year after sluggish financials prompted the dismissal of ex-CEO John Phizackerley as it failed to exert a sufficiently tough grip on costs.