ICAP appoints new CEO for Traiana - Andy Coyne

ICAP continues its HR shuffling by appointing Andy Coyne, ex Citi's Head of FX Prime, to take over the position which was previously taken by Gil Mandelzis now the CEO of EBS.

New York/London, 21 May 2012 – ICAP plc announced today that it has appointed Andy Coyne as Chief Executive Officer, Traiana. Andy Coyne joins Traiana from Citi, where he was Head of FX Prime and eCommerce Product. He will report to Gil Mandelzis, founder of Traiana, who has moved to the newly created role of Traiana Executive Chairman.

In his role, Coyne will be responsible for all aspects of Traiana’s global business across asset classes including foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX), exchange traded derivatives, Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, equity derivatives, fixed income and rates. Andy Coyne will be based in London.

In his six years at Citi, Andy Coyne played a pivotal role in building Citi’s global FX prime brokerage business and building the bank into one of the industry leaders in FX. Prior to Citi Andy was Head of FX Prime Brokerage at Deutsche Bank and held a number of management positions at Bankers Trust. He has also been a key leader in numerous industry initiatives and associations, serving on the board of CLS Aggregation, and previously serving on the board of FXAll prior to its initial public offering.

Gil Mandelzis, Executive Chairman of Traiana, said, “Andy is ideally suited to lead Traiana and take it to the next stage of its development. Andy has been building successful businesses in the industry for years, is widely recognised as a thought leader and is respected throughout the industry. We are delighted and proud that Andy recognised the tremendous opportunities that lie ahead for Traiana and chose to lead us in achieving them.”

Michael Spencer, CEO of ICAP plc, added, “We are delighted to welcome an executive of Andy’s calibre to the Group. Traiana is an important company in our portfolio and plays an increasingly key role in the post-trade landscape. Andy’s vision and experience will be invaluable as Traiana continues to grow.”

Andy Coyne, CEO, Traiana said, “I am thrilled to join the Traiana team at such an exciting time for the company and the industry. Traiana has fundamentally transformed the FX landscape and is helping customers extend this across asset classes in equities, exchange traded derivatives, fixed income and interest rates. I look forward to working with Traiana’s customers and partners to innovate and deliver even greater value in the future.”