Tradeweb Markets has announced significant changes to its leadership team. The company has appointed Amy Clack as its new Chief Administrative Officer (CAO), effective August 2024, while President Thomas Pluta will be leaving later this year.

A Seasoned Financial Expert

Clack is a seasoned executive with over 25 years of experience in financial services. She will be joining Tradeweb from Wells Fargo's Corporate and Investment Banking unit. Her professional background includes a role as Chief Operating Officer for Investment Banking and Capital Markets at Credit Suisse.

Tradeweb's CEO Billy Hult mentioned: "We are pleased to welcome Amy Clack to the team as CAO. Clack brings a wealth of relevant expertise in driving best-in-class global operations and acquisition integration, making her ideally suited to help accelerate our progress. I look forward to working with her and the rest of our talented leadership team to further scale our business, integrate our numerous acquisitions, and continually improve our ability to serve our client network."

In her new position as the CAO, Clack will oversee operations, business integration, risk, and corporate services, working closely with Tradeweb's leadership to sustain the company's growth trajectory.

Tradeweb Bids Farewell to Thomas Pluta

As part of these changes, Tradeweb has announced the departure of its President, Pluta, effective September 30, 2024. Hult acknowledged Pluta's contributions, saying, "I want to thank Tom for his contributions to Tradeweb's growth and for his service to the Board. We wish him well in his next chapter."

In the interim, the company's US institutional teams will report to Enrico Bruni, the Head of Europe and Asia Business, while the wholesale and retail teams will report directly to CEO Hult. Tradeweb expects the new leadership to drive growth in its extensive client network spanning over 70 countries.

This month, Tradeweb Markets reported trading volume amounting to $41.7 trillion for May 2024. This figure represents a 40% year-over-year increase in average daily volume (ADV) to $1.9 trillion. This significant expansion highlighted increased activity across various trading segments in the electronic marketplace.

Specifically, US government bond ADV grew by 33.4% YoY to $192.5 billion, boosted by broad client sector growth and favorable market conditions. European government bond ADV experienced a slight decline of 0.4% YoY to $41.4 billion. According to Tradeweb, the adoption of new protocols and heightened primary issuance in Europe and the UK led to sustained trading volumes.