ICAP plc : ICAP restructures its electronic division - Gil Mandelzis appointed CEO of EBS

ICAP, the world's leading interdealer broker, has restructured its electronic division (IEB) to separate the reporting lines for the FX and Fixed Income businesses. Gil Mandelzis has been appointed CEO of EBS, reporting to Michael Spencer. Gil will continue to be responsible for Traiana.

The electronic Fixed Income business will continue to be run on a regional and product basis by Dan Cleaves and John Edwards who will report to John Nixon.

As a result of this restructuring, David Rutter has decided to leave the Group.

Michael Spencer, Group CEO of ICAP, said: "This structure better reflects changing market dynamics, particularly in the FX space. Gil has enormous experience and depth of knowledge of the market and changing customer needs in this asset class. We are grateful to David for his energetic leadership of IEB during the last eight years and we wish him well in his future endeavours."

The Group will continue to report the electronic, voice and post trade segments of the business separately.

Contacts:
Brigitte Trafford Director of Corporate Affairs +44 (0) 20 7050 7103
Alex Dee Head of Investor Relations +44 (0) 20 7050 7123
John McCready Corporate Communications +44 (0) 20 7050 7124

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About ICAP:
ICAP is the world's leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios.www.icap.com.