In a statement, Icap said: “As members of the EBS management team, James and Ed were instrumental in turning EBS into the pre-eminent spot FX platform that it is today and the development of Icap electronic broking, which is maturing as a business.
Sinclair, who has recently gained a reputation as a conference rottweiler, savaging the aspirations of new platforms such as FXMarketSpace, had incredibly been at EBS since 1991; he played a pivotal role in seeing it to market and oversaw the integration of Minex into the company way back in its early days. He then oversaw EBS’s emergence in the Asia region.
Ed Howorka, who in a previous life was a maths professor, was the chief business risk officer at EBS. Darren Jer was one of the company’s leading salesmen in New York. Tongues will no doubt be wagging, because their departure comes so soon after the resignation of Jack Jeffery as Icap’s chief executive of electronic broking.
However, all three are believed to have left Icap on good terms, and although it is not clear what they will do next, sources say they are likely to work together again in the near future.*