ICAP plc board changes
London, 7 June 2013 – ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, today announces that, following his appointment as Chairman of United Overseas Bank Ltd, Hsieh Fu Hua will not be standing for re-election to the board at ICAP plc’s annual general meeting on 10 July 2013. He has been a non-executive director of the Company since January 2011 and during that time has served as a member of the Remuneration Committee.
ICAP plc further announces that Ivan Ritossa will be appointed to the board as a non-executive director following the annual general meeting.
Ivan Ritossa was formerly on the Executive Committee of Barclays Investment Bank and was most recently Head of Latin America, Central and Eastern Europe, the Middle East and Africa for Barclays across all products for the Investment Bank. Previous roles at Barclays include Head of Foreign Exchange and serving as an executive director of Barclays Saudi Arabia Board. He was a non-executive director of ABSA Group and served on a number of its committees.
Charles Gregson, Chairman, commented: “On behalf of the board, I would like to thank Fu Hua for his valuable contribution over the last two and a half years. We wish him well in his new role at United Overseas Bank. I am delighted that Ivan will be joining the board in July. Ivan has significant experience of the markets in which ICAP operates, particularly foreign exchange where he has been one of the foremost leaders in the industry for many years. I look forward to the insight he will bring to board deliberations and to the development of the business”.
|Serra Balls||Head of Public Relations||+44 (0)20 7050 7124|
|Alex Dee||Head of Investor Relations||+44 (0)20 7050 7123|
Notes to editors
Ivan Ritossa joined Barclays in 2002 as global head of foreign exchange in London and later relocated to Singapore. In 2007, he assumed additional responsibility as head of global markets Asia-Pacific, and prime services in 2008. He was appointed deputy head of FICC in September 2010, and took on his most recent role in June 2011 as head of Latin America, Central and Eastern Europe, the Middle East and Africa for the Investment Bank at Barclays.
Prior to joining Barclays in 2002, Ivan Ritossa was co-global head of foreign exchange at Lehman Brothers in London. He joined Lehman Brothers in 1999 as head of European foreign exchange, having previously been global head of foreign exchange at Bankers Trust.
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.