Tradeweb Markets (NASDAQ: TW) has hired Rich Chun to run its Asia operations, bringing in a three-decade fixed income veteran to oversee the electronic trading platform's expansion in a region where the company posted double-digit revenue growth this year.

Tradeweb Names Fixed Income Expert to Lead Asia Push

Chun, who will be based in Hong Kong as managing director and head of Asia, joins from HPS Investment Partners, where he served as a portfolio manager and set up the firm's Hong Kong office. He will report to Enrico Bruni and Troy Dixon, Tradeweb's co-heads of global markets, and manage business operations and client relationships across the Asia Pacific region.

"Tradeweb's success has always been rooted in listening to our clients and helping them navigate evolving markets," Bruni said. "Rich Chun brings extensive industry insight to help us deepen those relationships and deliver even more value to the local investment community."

The hire comes as Tradeweb's international operations recorded 41% revenue growth year-over-year in the second quarter of 2025, reaching $215 million and accounting for roughly 42% of total revenue. The company's average daily trading volume rose 33 percent to $2.6 trillion during the same period.

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Last month, the company led the series C funding round of Fnality, alongside WisdomTree and KBC Group. Fnality uses a distributed ledger to link wholesale markets with tokenized assets and closed the latest round with $136 million.

Experience Spans Buy-Side and Sell-Side Roles

Chun spent nine years at HPS Investment Partners and previously worked seven years as a portfolio manager at Claren Road Asset Management, helping shape that firm's regional approach. Before moving to the buy side, he worked 14 years at Citigroup in multiple trading positions, including a stint as head of credit trading for Asia and co-head of emerging market credit trading in the region.

His background includes positions on both sides of the market. At Citigroup, Chun also led Asia cash bond trading and the Asian syndicate desk, and spent six years trading on the firm's U.S. high yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term desk in New York.

"I am honored to join Tradeweb at such a dynamic time for financial services in Asia," Chun said. "Tradeweb has earned its reputation as a trusted partner and innovator across asset classes, and I look forward to engaging with our talented team and clients to develop new technologies that help unlock new opportunities and efficiencies."

Regional Electronification Lags Global Markets

Electronic trading penetration in Asia Pacific fixed income markets remains low compared to the U.S. and Europe, with some estimates placing electronification rates at 5 to 10 percent of total volumes. Market fragmentation and lower liquidity in many products have slowed the shift away from voice trading and chat-based execution.

Still, buy-side and sell-side firms in the region have increased adoption over the past five years, driven by efficiency gains, better transparency and regulatory requirements around best execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term. Click-to-trade protocols have gained traction for more liquid securities.

Dixon said the firm sees room for growth as markets become more interconnected. "As financial markets become increasingly electronified and interconnected, I am excited to welcome Rich to our Asia team to continue scaling our local business," he said.

Tradeweb, which went public in 2019, operates electronic marketplaces for rates, credit, equities and money markets. The company serves more than 3,000 clients in over 85 countries and facilitated an average $2.4 trillion in notional value traded daily over the past four fiscal quarters.