Icap appoints new EBS BrokerTec chief

The appointment comes as Icap prepares to rebrand itself as an electronic trading and post-trade services provider.

Icap has promoted Seth Johnson to the role of chief executive of its electronic trading unit EBS BrokerTec, following the resignation of Gil Mandelzis in July.

Johnson was previously head of strategy for global brokering at Icap and has been with the interdealer broker for over 20 years.

“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,” said Michael Spencer, CEO, Icap.

The appointment of Johnson comes as Icap prepares to rebrand itself as NEX Group, following the offloading of its voice brokering business to Tullett Prebon in a $1.5 billion deal.

NEX Group will instead focus on electronic trading and post-trade technology services.