2nd Jul 2015 07:37
LONDON (Alliance News) - Interdealer broker ICAP PLC Thursday named Jenny Knott as the chief executive of its Post Trade Risk and Information Services division, giving her responsibility for leading its strategic direction.
Knott is joining from African financial services group Standard Bank Group, where she was strategic adviser to joint chief executives Ben Kruger and Sim Tshabalala. Knott will sit on ICAP's global executive management group, reporting directly to Michael Spencer, the group chief executive.
The Post Trade Risk and Information Services division, which aims to help reduce operational and system-wide risks for participants in the wholesale financial markets, has become increasingly important to ICAP, which has been adjusting to structural and cyclical changes in the industry.
The interdealer broker, which matches buyers and sellers in the wholesale markets, has been growing the division amid pressure on revenue as its banking clients were forced to abide by tougher capital rules following the global financial crisis of 2007-09. New regulations and technology have pushed ICAP towards electronic platforms, post trade services and data, a shift from its traditional voice broking business.
Knott worked for Japanese bank Nomura Securities and Swiss giant UBS AG prior to joining Standard Bank, where held roles including Global Corporate and Investment Banking Chief Financial Officer.
"This is an important hire for ICAP and for the key businesses within the Post Trade Risk and Information Services division," ICAP's Spencer said in a statement.
"The significant time she has spent in investment banking means she brings a valuable insight, as well as deep knowledge of the changing regulatory landscape and, crucially for ICAP, the opportunities this brings in the pre and post trade space," Spencer said.
Knott is set to join ICAP on August 5.
ICAP shares were down 0.7% at 510.50 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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