ICAP plc (IAP.L), will appoint Mark Price group chief operating officer of the firm, subject to Financial Services Authority approval.
He will have overall responsibility for risk, compliance and human resources, and he will provide management oversight of ICAPs information technology infrastructure. Price will start October 3.
“This appointment reflects our belief in maintaining the strong control environment and robust risk management we have developed as financial regulation is strengthened and market infrastructure changes, Michael Spencer, group chief executive of ICAP plc says. Mark brings a great depth and breadth of experience in the financial markets to the role, and we are delighted to welcome him to ICAPs senior management team.
Price joins ICAP from Deutsche Bank where he was chief operating officer for global credit and emerging market debt. While at Deutsche Bank he held a number of senior roles involving both business management and operating responsibilities, including the deputy head of the Transaction Management Group until January 2009. Before joining Deutsche Bank in 1998, Price worked at Merrill Lynch in London as product controller for credit derivatives. From 1989 to 1995, he was a senior auditor at Ernst and Young.
It was announced in May that Mark Yallop, the current group chief operating officer had decided to leave the group but would remain with ICAP until a replacement was appointed.
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