By Simon Falush
LONDON, June 8 (Reuters) – The world’s largest interdealer broker, ICAP said on Friday that three senior managers have resigned from EBS, the electronic trading platform it bought for $775 million last year.
James Sinclair, head of research strategy, Ed Howorka, chief business risk officer and Anton Aucamp, head of marketing and communications, have all left, the company said.
The departure comes shortly after the announcement that Jack Jeffery, chief executive, is leaving the business and is being replaced by John Nixon.
“Inevitably we have seen some changes to the business and with our integration work well under way, (the departing managers) have decided to pursue opportunities outside ICAP,” Nixon said.
EBS research strategy will be headed up by Ed Brown following Sinclair’s departure later this month. Brown will report to Herman Kaldewaaij while the business risk team will continue to report to Stephen Caplen, ICAP said.
Sinclair and Howorka have been at EBS since its inception in the mid-1990s. The electronic broking platform was set up by a consortium of major banks as a venue for banks to trade foreign exchange.
The acquisition of EBS last April helped ICAP report average daily trading volumes of $670 billion in the last financial year.
Source: Reuters newswire