EBS BrokerTec, ICAP’s electronic foreign exchange (FX) and fixed income business, is continuing along with its integration and formed an executive management team to lead the new business. The new management structure will allow a streamlined integration of the division, including its combined product, technology and sales groups. As a result, the central limit order book (CLOB) businesses of EBS Market and BrokerTec have been combined into a single business division now referred to as EBS BrokerTec Markets. In addition, the BrokerTec CLOB business will now be referred to as BrokerTec Market.
To that end, the firm has named Dan Cleaves and Darryl Hooker to co-head EBS BrokerTec Markets. It also named Phil Harris, formerly of Nasdaq, as head of EBS Market.
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Cleaves was most recently served as CEO of BrokerTec’s North America business, having previously been Global Head of Product for both BrokerTec Market and EBS Market. He will continue to be based in New York
Hooker most recently held the position of Global Head of EBS Market and has played a critical role in new business initiatives with a specific focus on emerging markets. He will continue to be based in London.
Also, Arthur D’Arcy and Viral Tolat have been appointed as global co-head of product for EBS BrokerTec and will work together to build on the existing strengths of the business line while continuing to launch new and innovative products. D’Arcy will retain his existing role as chief information officer for ICAP global broking and group head of infrastructure IT. Viral was previously global head of product for EBS having joined the firm in 2013 from Integral, which he co-founded in 1993. Both are based in New York.
Gerard Varjacques has been appointed head of sales for EBS BrokerTec, having previously been head of sales for EBS. He will focus on generating new business across the group and continue to be based in New York.
Dan Cleaves, Darryl Hooker, Arthur D’Arcy, Viral Tolat and Gerard Varjacques will sit on the newly formed EBS BrokerTec Executive Management Team alongside: Rafi Vasserman, Jason Cohen, Eliran Glazer, Jeff Ward, Richard Kerschner, Justyn Trenner, Paul Allmark, Victoria Mellor and Harriet Oliver.
Gil Mandelzis will continue to lead as CEO.
In addition, Phil Harris joined EBS BrokerTec as head of EBS Market. Harris joins from NASDAQ where he was head of FX strategy & initiatives with responsibility for global strategy and product design for FX products. Prior to this he held roles at 360T, FXMarketSpace and the Chicago Mercantile Exchange. He will be based in New York and report to Cleaves and Hooker.
Anthony Dunphy has joined Dash Financial as head of sales. Dunphy, who has spent the last 15 years in sales and business development for trading solutions and technologies, came from Eze Software Group/. At Eze he held several roles including global head of sellside sales and head of buyside sales in the Americas. Prior to Eze, he spent 10 years with Goldman Sachs’ REDI unit, where he held various positions including sales trading and project management, and spent four years building out REDI’s business in Japan.
The CBOE promoted Andy Lowenthal from vice president to senior vice president, business development. Lowenthal’s promotion comes as part of a reorganization designed to better leverage the company’s business development efforts across its expanding line of futures and options products and services. His responsibilities have been expanded to include the business development functions of the CBOE Futures Exchange (CFE?), home of futures on the CBOE Volatility Index? (VIX? Index) and an array of related products. He also will oversee business development for Livevol, a leading provider of equity and index options technology and market data services.
In addition, Lowenthal will lead CBOE’s newly created Global Client Services group, which was structured to better serve CBOE’s growing international client base and is focused on account management across all channels. He will continue to direct CBOE’s Business Analysis and Institutional and International Business Development groups.
Lowenthal has spent his entire career at CBOE, starting in 1983 in trading operations, regulatory services, then in strategic planning and then finally resting in business development.
Chicago-based R.J. O’Brien & Associates (RJO) announced that Tony Dalton has joined the firm its New York office as head of the FX Division. Dalton is widely considered one of the pioneers of foreign exchange (FX) prime brokerage, after building that business for three major global banks. For the last two years, he served as managing director, futures, options and OTC clearing at Bank of America Merrill Lynch in New York. He joined Bank of America in 2000 to help build its FX prime brokerage business and launched it within five months of joining. He has played a major role in successfully establishing and building FX prime brokerage businesses since the inception of the product, first at Barclays Bank in the mid-1990s, and subsequently at ABN AMRO in 1998 before taking on the role at Bank of America. He began his career in financial services at MBIA.
