Interdealer broker Icap makes new chief exec appointment after Tullett Prebon deal is waved through

William Turvill
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Icap is to be renamed Nex Group after its deal with Tullett Prebon (Source: Getty)

Interdealer broker Icap has named Seth Johnson as the new chief executive of its foreign exchange trading and fixed-income business, EBS BrokerTec.

Johnson will take over from Gil Mandelzis, whose departure from Icap, which is soon to be renamed Nex Group, was announced in July.

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The announcement comes a day after Tullett Prebon’s deal to acquire the global broking business of Icap was cleared by the Competition and Markets Authority.

Johnson is currently head of strategy at Icap’s global broking division, where he has been responsible for growing revenues, improving technology application and expanding customer coverage.

He will continue to sit on the company’s global executive management group and will report directly into chief executive Michael Spencer.

Read more: Icap offers up its oil desks to avoid Tullett deal probe

Spencer said:

His experience and understanding of our products and our clients, and his determination to develop EBS BrokerTec and maximise its performance for clients and shareholders alike, made him the outstanding candidate for the position. His appointment is a testament to the strength and depth of talent we have within Icap.

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