Interdealer broker Icap has appointed John Nixon as chief executive of its electronic broking division (IEB).Nixon replaces Jack Jeffery, who has been CEO since February 2002 and will continue working until the end of June to complete the handover.
John Nixon has been director of strategic acquisitions and global market data services at Icap since 2002, and played an important role in Icap’s acquisitions of both BrokerTec and EBS. Between 1998 and 2002, he was a non-executive director of Icap, and between 1978 and 1997 he was chief executive officer of Tullett and Tokyo Forex, now part of Tullett Prebon, working in the Toronto, London and New York offices.
IEB is a combination of EBS’s electronic spot foreign exchange services and Icap’s fixed-income electronic broking businesses. It is now the largest electronic broking business in the interdealer broking industry with an estimated share of 44% of industry revenues.
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