Gil Mandelzis has decided to relinquish his position as CEO at ICAP plc’s EBS BrokerTec unit which houses the electronic trading divisions of the company. Mandelzis will be leaving the company after a new CEO has been appointed.
Commenting on the announcement, the CEO of ICAP, Michael Spencer, said: “Gil Mandelzis has been a truly outstanding leader of our Electronic Markets division, playing a central role in the successful expansion and integration of the EBS and BrokerTec businesses.”
“Gil co-founded Traiana back in 2000, a business ICAP acquired in 2007, and has undoubtedly made a lasting and meaningful contribution to the evolution of the foreign exchange (FX) and fixed income industries. He has decided, however, that his career should now take a different direction and we have accepted this,” Spencer elaborated.
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The company will start looking for a new CEO of EBS BrokerTec immediately with both external and internal candidates in consideration.
Commenting on his departure, Mr Mandelzis said: “I am very proud of our achievements at ICAP. From Traiana’s significant growth, positioning it as a global player in pre and post trade services through to the transformation of ICAP’s electronic FX and fixed income businesses into a fully integrated multi-product offering.”
“We have transformed EBS BrokerTec from a single product business to a diversified multi-product business entering new markets and geographies, and creating a very strong foundation for expansion. We have built a world class team at all levels of the organisation that will continue to deliver and execute on the strategy, while innovating and collaborating with the market to best serve our customers.”
“Although I have decided to leave, I believe that EBS BrokerTec is exceptionally well positioned for growth. I’d like to thank everyone, especially the teams at EBS BrokerTec and Traiana, for their hard work, loyalty and commitment over the years and most notably Michael Spencer for his unwavering support and friendship.”