IEX promotes listings head to chief financial officer

Sara Furber named CFO as BAML’s former executive vice chairman joins IEX as head of corporate advisory.

The Investors Exchange (IEX) has promoted its head of listings to chief financial officer and named its new head of corporate advisory in a recent management shake-up.

Sara Furber joined IEX to head up the listings business in 2016, having held multiple senior roles in investment banking and finance, including chief operating of wealth management at Morgan Stanley.

As CFO, Furber will be responsible for overseeing corporate development of the exchange, and IEX Ventures which supports firms and entrepreneurs through various partnerships.

“With our core equities business continuing to gain strength, IEX is in a unique position to focus on our next phase of growth, opportunistically diversifying our business while continuing to drive our mission of building fairer markets,” said Brad Katsuyama, co-founder and CEO of IEX.

The exchange operator has also hired Dan Cummings, formerly executive vice chairman at Bank of America Merrill Lynch, as its new head of corporate advisory. Cummings will use his experience of leading more than 400 book-run deals and 100 IPOs to drive corporate relationships at IEX.

“We’ve already made a major impact in equities, from levelling the playing field for investors to pioneering machine learning in exchange technology and advocating for market structure improvements,” IEX co-founder Ronan Ryan added.

“This progress has been fuelled by the addition of experts from different segments of the market to our team. As a proven leader in equities, Dan further strengthens our capabilities at IEX and allows us to invest in serving corporates, which, like investors, have been underserved in this market.”

Furber will report to Katsuyama, and Cummings will report to Ryan.