Newly created TP ICAP, the world’s largest interdealer broker, has onboarded Iain Plunkett to the role of Chief Operating Officer, succeeding Ken Pigaga, who decided not to take up the equivalent role when Tullett Prebon completed a deal for rival ICAP’s voice-broking and information business.
TP ICAP confirmed Plunkett will join in the second quarter 2017, according to a corporate statement on Friday.
Creating the biggest interdealer brokerage in an industry, TP ICAP has become the parent company to four broking brands — Tullett Prebon and ICAP, PVM and Mirexa Capital — which are currently staffed by 3,500 brokers in total.
Iain Plunkett joins TP ICAP from Aberdeen Asset Management where he served as the asset manager’s COO since September 2015 before stepping down to take up the same role at the interdealer broker.
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Prior to this position, Plunkett worked for Barclays, where he ran technology and operations across the group functions. In addition, he was a mainstay at UBS for more than 14 years where his final position was CIO of investment bank and corporate centre and head of IT for the UK.
Plunkett has held various roles at UBS since joining in 1999, including global head of finance, risk and operations IT, and CIO for the EMEA region. He started his career as a systems engineer at EDS Group in 1992, before moving on to Accenture in 1994, where he stayed for five years, according to his LinkedIn profile.
Mr. Plunkett has a degree in Information Engineering from the University of Strathclyde.
Commenting on Iain’s appointment, John Phizackerley, Chief Executive of TP ICAP, said: “I am delighted to welcome Iain to TP ICAP as Chief Operating Officer. His experience in capital markets, and particularly in change and transformation projects, make him ideally suited to join our team. He will be integral to executing our integration programme over the next three years, and we are looking forward to working with him.”