Icap appoints new Traiana CEO; announces new EBS management structure
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Foreign Exchange

Icap appoints new Traiana CEO; announces new EBS management structure

Icap has hired Andy Coyne as chief executive officer of Traiana – the firm’s post trade-processing service – and has finalized the new management structure of EBS, after Gil Mandelzis’ appointment as CEO earlier this year.

Andy Coyne,
newly-appointed
CEO of Traiana

Coyne, who takes over Mandelzis’ former position, comes from Citi, where he was head of FX prime brokerage and G10 e-commerce for six years. Coyne, who was also head of FX prime brokerage at Deutsche Bank until 2005, will be based in London and will oversee all aspects of Traiana’s global business across all asset classes. He will report to New York-based Mandelzis.

Traiana, now the industry-standard platform for electronically processing over-the-counter FX, was co-founded by Mandelzis in 2000.

It provides global banks, broker dealers, buy-side firms and e-trading platforms with solutions to automate post trade-processing of financial transactions in FX, equities, fixed income and other products.

The Harmony network connects more than 500 financial institutions to Traiana’s post trade-processing service.

As of March 31, Harmony was processing an average of 1.1 million transactions per day, an increase of more than 25% from the same period in 2011, according to Icap’s first-quarter results.

New EBS management structure

Mandelzis was promoted to CEO of EBS, Icap’s electronic FX-trading platform, in March, after the departure of then chief executive David Rutter.

And Icap has now finalized the new structure of its EBS senior leadership team.

Rafi Vasserman has been appointed chief information officer, and will oversee innovation and product development for EBS and Traiana.

Ed Brown, who has been at Icap for 10 years, is now head of strategic initiatives, and Jason Cohen has been appointed as global chief operating officer.

Meanwhile, Eliran Glazer, who is chief financial officer of Traiana, has been seconded to the EBS management team to assist with the delivery of a number of commercial projects, while retaining his role at Traiana.

Steve Caplen remains chief financial officer at EBS, while Jeff Ward remains global head of sales and Victoria Mellor is global head of marketing.

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