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.

• Tradeweb Reshuffles Executive Team: President Thomas Pluta Leaves, Amy Clack Joins as CAO
• SEC Approves Tradeweb’s TW SEF as Security-Based Swap Execution Facility

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 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 . 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.