Icap Electronic Trading Chief to Step Down

EBS BrokerTec CEO Gil Mandelzis will leave the company as Icap continues with sale of voice brokerage business to Tullett Prebon.

gil-mandelzis
Gil Mandelzis has been with Icap since 2007, when it acquired Traiana.
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Mandelzis is set to leave the company to take his career "in a different direction," although no details have been confirmed on when he will depart, according to a statement. Icap will consider both internal and external options for his replacement.

After founding pre- and post-trade processing solution provider Traiana in 2000, Mandelzis joined Icap when the business was acquired by the inter-dealer broker in 2007, taking charge of Icap's electronic FX business in 2012. When Icap merged its FX and fixed-income businesses in 2014, Mandelzis took charge of the combined EBS BrokerTec division.

The announcement comes during the ongoing sale of Icap's voice brokerage business to fellow London-based interdealer-broker Tullett Prebon, in a deal worth $1.68 billion announced last November.

"I have decided that it is a good time for me to start a new chapter," Mandelzis said in a statement. "Although I have decided to leave, I believe that EBS BrokerTec is exceptionally well positioned for growth."

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