Electronic trading platform MarketAxess has appointed former Goldman Sachs executive, Nash Panchal, to succeed Nick Themelis as the company’s chief information officer.
Themelis retires from MarketAxess effective 28 February, after serving as the company’s chief information officer for 16 years.
To ensure a smooth transition, Themelis will remain with the company in an advisory capacity throughout the remainder of 2022.
“Nick has been an essential partner to our business over his 16 year run at MarketAxess,” said Rick McVey, chairman and chief executive of MarketAxess.
“His leadership of our technology strategy and technology team has been one of the key ingredients of our business growth and success. We have created many important innovations throughout this period that have improved trading efficiency and reduced transaction costs for our clients. We celebrate Nick’s career at MarketAxess and wish him the very best for the next chapter in his journey.”
Panchal will join MarketAxess in March after severing as a technology leader at Goldman Sachs for over 20 years.
Most recently, he served as managing director and global co-head of technology in Goldman Sachs’ asset management division.
Prior to that, he served in various roles including global head of Goldman Sachs Asset Management Portfolio Management and Trading Technology and global co-head of fixed income, currencies and commodities technology in Goldman Sachs’ global markets division.
In his new role, Panchal will be based in New York and will report directly to Chris Concannon, president and chief operating officer of MarketAxess.
“We are thrilled to welcome Nash Panchal as our next CIO. He brings an impressive record of leading and developing global technology organisations and shares our passion for partnering with clients to innovate,” said Concannon.
“I look forward to working with Nash on bringing our clients the next generation of technology needed to navigate the rapidly evolving electronic trading environment in global fixed income.”
Panchal’s appointment follows that of Kathryn Sweeney, who also spent several years at Goldman Sachs before joining MarketAxess.
Sweeney joined the company in October last year to head up its index and ETF business after previously serving as managing director at both Goldman Sachs and State Street Global Advisors.