Heading the position of CEO at Traiana since July 2012, Andrew Coyne is leaving the firm. A provider of pre and post-trade processing services, Traiana was acquired by ICAP in 2007 as part of the interdealer’s expansion of its financial services. At the time of Coyne’s appointment to CEO, he took over day-to-day responsibilities from Traiana founder Gil Mandelzis who went on to become the head of EBS.
Prior to his time at Traiana, Coyne had worked for six years at Citi as its managing director of FX Prime Brokerage and eCommerce Product. At Citi, Coyne had become a user of Traiana’s post-trade clearing solution, Harmony CCP Connect, and the bank was the first firm to choose the product.
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Representatives from ICAP declined to comment about Coyne’s leaving the firm or his replacement, but he is believed to be pursuing other opportunities. Forex Magnates has learned that in the interim, ICAP Group Chief Operating Officer Ken Pigaga has been appointed interim CEO, until ICAP concludes its search for a permanent replacement.
Separately, Nick Solinger, who had been reportedly leaving Traiana, was asked to remain at the firm and will be returning as their head of Product Strategy and chief marketing officer.