Icap merges EBS with BrokerTec
The new business, EBS-BrokerTec, will be led by Gil Mandelzis
Icap has combined foreign exchange platform EBS and its fixed-income electronic venue BrokerTec under EBS chief executive Gil Mandelzis, who will now lead both businesses, known as EBS-BrokerTec.
Michael Spencer, Icap's chief executive, becomes chairman of EBS-BrokerTec while Seth Johnson steps down as chief executive of BrokerTec. Richard Kerschner, head of corporate development at EBS, has been appointed interim chief executive of EBS-BrokerTec. Johnson remains on Icap's Global Executive
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