24th May 2005 07:01
ICAP PLC24 May 2005 ICAP announces the appointment of Mark Yallop as Group Chief Operating Officer London, May 24, 2005 - ICAP plc (IAP.L), the world's largest interdealer brokerannounces the appointment of Mark Yallop as Group Chief Operating Officereffective from 1 July 2005. He will be appointed a director of ICAP at the boardmeeting following the ICAP Annual General Meeting on 13 July 2005. Michael Spencer, Group Chief Executive Officer, commented, "Mark Yallop bringsto ICAP significant experience, having been Group Chief Operating Officer ofDeutsche Bank Group, following many years involvement in trading in thederivatives, foreign exchange and cash markets. In particular his involvement in the transformation of Deutsche Bank's sales andtrading business, as it has grown in the last ten years to capture a leadingmarket share, is very relevant. I expect him to play an important role in thegrowth of ICAP, both organically and through selective acquisition, to help takeour share of the combined voice and electronic market interdealer broker marketfrom an estimated 28% to exceed 35% over the next few years." David Gelber will be retiring from his role as Group Chief Operating Officer, aposition he has held since 1999, having been the Chief Operating Officer ofIntercapital, following the Exco/Intercapital merger. He will become anon-executive director of ICAP plc for an initial period of one year from 13July 2005 so that the board may continue to benefit from his knowledge andexperience. Notes: There are no details required to be disclosed in relation to paragraph 16.4 (b)of the Financial Services Authority Listing Rules in relation to Mark Yallop. Contacts: Michael Spencer Group Chief Executive Officer (44) 20 7050 7400Mike Sheard Director of Corporate Affairs (44) 20 7050 7103Neil Bennett The Maitland Consultancy (44) 20 7379 5151 About Mark Yallop Mark Yallop completed his education at University College, Oxford and joinedBaring Brothers before moving to Morgan Grenfell in 1985. He then began 15 yearsof sales and trading responsibilities, becoming Head of OTC Derivatives in 1989and Deputy Head of the Treasury and Trading Division in 1992 where he wasinvolved in planning the full integration of Morgan Grenfell and Deutsche Bankbusinesses in 1995. He followed this by becoming Chief Operating Officer ofDeutsche Bank's Global Markets Division and in 2001 Chief Operating Officer ofthe Corporate and Investment Banking Division. Finally he was Group ChiefOperating Officer of Deutsche Bank Group, reporting to Hermann-Josef Lamberti,until December 2004. He was also a director of the International Swaps andDerivatives Association (ISDA) from 1996 to 1998. About ICAP: ICAP is the world's largest interdealer broker and following the acquisition ofthe BrokerTec fixed income securities businesses is the world's leadingelectronic broker of fixed income securities with a daily average transactionvolume in excess of $1 trillion, 50% of which is electronic. The Group isactive in the wholesale market for OTC derivatives, fixed income securities,money market products, foreign exchange, energy, credit and equity derivatives. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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