9th Sep 2016 06:31
LONDON (Alliance News) - Interdealer broker ICAP PLC on Friday said it has appointed Seth Johnson as the new chief executive of its EBS BrokerTec electronic trading arm.
Johnson will move to the role from his current post as the head of strategy in ICAP's Global Broking division.
He takes over from Gil Mandelzis, whose departure was announced in June.
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.
On Thursday, the UK's Competition & Markets Authority accepted the undertakings offered to get regulatory approval for the combination, and Tullett said it remains confident the deal will close in 2016.
By Sam Unsted; [email protected]; @SamUAtAlliance
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