21st Jul 2016 11:10
LONDON (Alliance News) - Interdealer broker ICAP PLC on Thursday said the chief executive of its EBS BrokerTec business has decided to leave the company.
Gil Mandelzis, the CEO of the electronic trading arm, will step down in due course, ICAP 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," said Michael Spencer, ICAP's chief executive.
"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," Mandelzis said.
EBS BrokerTec will be one of the businesses central to ICAP's strategy when it changes its name to NEX Group PLC. That will occur once ICAP completes the sale of its hybrid voice broking and information business to mid-cap interdealer broking rival Tullett Prebon PLC.
Shares in ICAP were up 0.1% to 451.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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