Interdealer broker BGC Partners has confirmed that Shaun Lynn will step down as president of the firm and transition to vice chairman role from 1 October.
BGC said in a statement that Lynn will continue to work for the brokerage on issues such as strategy and corporate development, in a move that will see him step away from day-to-day responsibilities.
Lynn became a co-founder of BGC after spearheading the firm’s decision to spin out the business from Cantor Fitzgerald in 2004. He has led the broking and operations of the business globally, as well as various corporate functions such as finance, risk management, legal & compliance, and technology.
“During his tenure, Shaun leveraged his expertise to help BGC grow dramatically and drive forward our many strategic initiatives,” said Howard Lutnick, CEO of BGC Partners. “Shaun has been a vital partner and builder of our management team.
“We are grateful for his contributions and leadership throughout his tenure including his stewardship throughout the COVID-19 pandemic and the invaluable role he played in Cantor Fitzgerald’s recovery after the events of September 11, 2001. I look forward to continuing to work with him on the strategic vision of the firm and to advance our business objectives in his new capacity as vice chairman.”
The executive team that was built out by Lynn during his time as president at BGC will continue to manage the day-to-day operations of the business. The management team consists of chief operating officer, Sean Windeatt, chief financial officer, Steve Bisgay, and Jean-Pierre Aubin, Anthony Warner, and Julian Swain, co-heads of global brokerage.
“I have been fortunate to be a part of BGC’s tremendous global growth since its inception, and I am proud to see how far the company has come,” Lynn commented on his new appointment. “It has been an honour working with such a talented management team for more than three decades.”