ICAP plc (IAP.L), a global markets operator and provider of post-trade risk mitigation and information services, has appointed Stuart Bridges as its newest Group Finance Director, according to an ICAP statement.

Mr. Bridges’ new appointment is pending approval from the UK’s Financial Conduct Authority (FCA). In his new role, he will be sitting on ICAP’s Global Executive Management Group and Board, where he will be based out of London. He will be reporting directly to Michael Spencer, ICAP’s Group Chief Executive Officer.

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Mr. Bridges joins ICAP from global insurer, Hiscox Ltd, having worked as its chief financial officer (CFO) since 1999. During his time at Hiscox, he also held the role of board director and was a member of its executive group.

According to Mr. Spencer in a recent statement on the appointment, “Stuart brings valuable experience and an impressive track record in the global financial services industry and I am delighted that he is joining ICAP. His appointment marks the culmination of a comprehensive process to find the best candidate for this role.”

“It is an exciting time to be joining ICAP: we are focused on investing further in expanding our product portfolio and services into areas where we see potential and redeploying our energies on our market leading assets. Stuart will be a key part of the management team that will drive forward our strategy and I look forward to working with him,” he added.

Earlier this week, ICAP and BATS announced that they would be partnering to provide a new clearing and trading service for Exchange for Physical (EFP) transactions. The transactions are based on an exchange of a futures position for the underlying asset.