MarketAxess Announces Chief Information Officer Succession
NEW YORK, 01 Feb. Feb. 20, 2022 (GLOBE NEWSWIRE) — MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic fixed-income trading platform, and provider of market data and post-trade services for Global Fixed Income Markets, today announced that Nash Panchal will succeed Nick Themelis as Chief Information Officer of MarketAxess. MarketAxess previously announced the retirement of Mr. Themelis from MarketAxess, [effective February 28, 2022,] after 16 years as the company’s chief information officer.
Mr. Panchal will join MarketAxess in March after more than 20 years as a technology leader at Goldman Sachs. Mr. Themelis will remain with the company in an advisory capacity until 2022 to ensure a smooth transition.
“Nick has been a critical partner to our business during his 16 years at MarketAxess,” said Rick McVey, President and CEO of MarketAxess. “His leadership of our technology strategy and our technology team has been a key ingredient in the growth and success of our business. We have created many important innovations throughout this time that have improved transaction efficiency and reduced transaction costs for our clients. We celebrate Nick’s career at MarketAxess and wish him the best for the next chapter in his journey.
Chris Concannon, President and COO of MarketAxess added, “We are delighted to welcome Nash Panchal as our next CIO. He brings impressive experience leading and growing global technology organizations and shares our passion for partnering with customers to innovate. I look forward to working with Nash to bring our clients the next generation of technology needed to navigate the rapidly changing electronic trading environment in global fixed income.
Mr. Panchal was until recently managing director and co-head of global technology in the asset management division of Goldman Sachs. Previously, he served as Global Head of Portfolio and Trading Technology at Goldman Sachs Asset Management and Global Co-Head of Fixed Income, Currencies and Commodities Technology at the global markets division of Goldman Sachs. Mr. Panchal began his career as a consultant with Andersen Consulting. He holds a BA and MA, each in Computer Science, from the University of Cambridge.
Mr. Panchal will be based in New York and will report to Mr. Concannon.
About Market Axess
MarketAxess operates a leading institutional electronic trading platform providing expanded liquidity opportunities, enhanced quality of execution and significant cost savings in the global fixed income markets. A global network of more than 1,800 firms, including the world’s leading institutional asset managers and brokers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. MarketAxess’ award-winning Open Trading® marketplace is considered the preferred global trading solution in global credit markets, creating a unique pool of liquidity for a wide range of credit market participants. Leveraging its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services. For more information, visit www.marketaxess.com.
Caution Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including statements about the prospects and growth prospects of the Company and the industry, as well as statements about the future financial and operating performance of the Company. These and other statements regarding future results and events are based on MarketAxess’ current expectations. The Company’s actual results in future periods may differ materially from those currently expected or desired due to a number of risks and uncertainties, including: global economic, political and market factors; risks relating to the COVID-19 pandemic, including the possible effects of global economic conditions resulting from the COVID-19 pandemic; risks associated with the United Kingdom’s exit from the European Union; the volume level of transactions carried out on the MarketAxess platform; the rapidly changing nature of the electronic financial services industry; the level and intensity of competition in the fixed income electronic trading industry and pricing pressures that may result; the variability of our growth rate; our ability to introduce new rate plans and the response of our customers; our ability to attract customers or adapt our technology and marketing strategy to new markets; risks related to our growing international operations; our dependence on our broker clients; the loss of one of our major institutional investor clients; our exposure to risks arising from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in principal-matched transactions; risks related to self-compensation; the effect of rapid changes in the market or technology on us and users of our technology; our dependence on third-party suppliers for key products and services; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; the occurrence of design flaws, errors, failures or delays with our platforms; our vulnerability to cybersecurity risks; our actual or perceived failure to comply with privacy and data protection laws; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our ability to enter into strategic alliances and acquire other businesses and successfully integrate them into our business; our dependence on our management team and our ability to attract and retain talent; the limits of our flexibility because we operate in a highly regulated industry; increasing government regulation of us and our customers; our exposure to costs and penalties related to our extensive regulation; our risks of litigation and liability under securities laws; our future capital requirements and our ability to obtain capital when needed; limitations on our operational flexibility contained in our credit agreement; and other factors. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Further information about these and other factors affecting MarketAxess’s business and prospects is contained in MarketAxess’s periodic filings with the Securities and Exchange Commission and may be viewed at www.marketaxess.com.
Contacts for Media Relations:
+1 917 267 1232
Contact with Investor Relations:
MarketAxess Holdings Inc.
+1 212 813 6313