MarketAxess' head of Europe and Asia, Robert Urtheil, is to step down from the role, citing personal reasons.
Urtheil joined the fixed income trading specialist in March last year from Oliver Wyman, replacing Paul Ellis.
He stated, “I am proud of what MarketAxess and Xtrakter have jointly achieved and the changes we have implemented as a part of the integration of both firms but at this time, my attention is needed with my family.”
A spokesperson for MarketAxess confirmed Urtheil will be leaving the firm in the next few months, but intends to remain involved in the transition period to a new head of its European and Asian business.
He joined the business as it completed its £25.3 million acquisition of Xtrakter, with the aim of extending the company’s products to MarketAxess’s buy-side client base.
At consultancy Oliver Wyman, Urtheil was a partner and global head of its market infrastructure business. He also spent 10 years at Deutsche Börse, rising to head of market development and strategy.
MarketAxess is currently seeking a replacement.