ICAP has confirmed market rumours that EBS veterans James Sinclair, Ed
Howorka and Darren Jer have all resigned this week. In a statement, ICAP
said: “As members of the EBS management team, James and Ed were
instrumental in turning EBS into the pre-eminent spot FX platform that it is today
and the development of ICAP electronic broking, which is maturing as a
Sinclair, who has recently gained a reputation as a conference
rottweiler, savaging the aspirations of new platforms such as FXMarketSpace, had
incredibly been at EBS since 1991; he played a pivotal role in seeing it
to market and oversaw the integration of Minex into the company way back in
its early days. He then oversaw EBS’s emergence in the Asia region.
Ed Howorka, who in a previous life was a maths professor, was the chief
business risk officer at EBS. Darren Jer was one of the company’s
leading salesmen in New York. Tongues will no doubt be wagging, because their
departure comes so soon after the resignation of Jack Jeffery as ICAP’s
chief executive of electronic broking .
However, all three are believed to have left ICAP on good terms, and
although it is not clear what they will do next, sources say they are
likely to work together again in the near future.