MarketAxess, electronic trading platform for fixed-income securities and provider of post-trade services, has promoted Chris Concannon as CEO, effective 3 April.
Concannon 鈥� who will continue to serve as a director on the firm鈥檚 board 鈥� succeeds Richard McVey, current chairman and CEO at MarketAxess.
McVey will transition to executive chairman in the coming months, where he will focus on supporting Concannon in his new role, further developing corporate strategy and working closely with key clients and the firm鈥檚 board of directors.
Joining MarketAxess in 2019, Concannon entered his present role of president and chief operating officer.
Previously, Concannon served as president and chief operating officer of Cboe Global Markets, taking this position with Cboe鈥檚 acquisition of Bats Global Markets. Prior to this, Concannon served as CEO of Bats since 2015.
Concannon brings more than 20 years of experience to the role as an executive at Nasdaq, Virtu Financial, Instinet and as an attorney at Morgan, Lewis & Bockius, LLP and the U.S. Securities and Exchange Commission.
Commenting on the news, McVey says: 鈥淚n his current role, Chris has provided essential leadership as we introduced a range of new trading protocols, expanded automated trading and execution, deepened our capabilities in data analytics and integrated a number of strategic acquisitions.
鈥淗e will become CEO at a time when our growth potential has never been more promising, and our leadership team is deeper than ever.鈥�
Stephen Casper, lead independent director of the MarketAxess Board, adds: 鈥淪ince founding MarketAxess in 2000, Rick has led our company through a period of extraordinary growth, marked by transformative innovations to improve global bond market structure for the benefit of all market participants.
鈥淎s we head into an era of increasingly automated, data-driven trading, we are fortunate in Chris to have a proven leader deeply experienced in electronic markets. Chris and our strong leadership team are resolutely focused on our company鈥檚 immense growth opportunity in the years ahead.鈥�
Speaking about his new role, Concannon comments: 鈥淚 am fortunate in my new role to have an excellent team of colleagues around the world dedicated to our clients鈥� success and to delivering value to our shareholders.
鈥淎cross fixed-income markets, we see accelerated client adoption of technology needed to compete more effectively in markets increasingly shaped by automation, data analytics and the growth in exchange-traded funds. I believe MarketAxess has an exceptional opportunity to build on the impressive record of growth and innovation under Rick鈥檚 leadership, and I look forward to continuing our work together.鈥�
Image: MarketAxess 