Ken Pigaga appointed Chief Operating Officer of ICAP plc
London, 26 November 2013 - ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, announces that Ken Pigaga has been appointed Global Chief Operating Officer, reporting to Michael Spencer, ICAP’s Group Chief Executive Officer.
Based in London, Mr Pigaga will join the Company’s Global Executive Management Group and will assume immediate responsibility for the operation of the Group’s governance and control frameworks. This will include oversight over risk and compliance, as well as responsibility for the control aspects of operations and technology. Colin Smith, Group Chief Risk Officer, and Gerry Harvey, Group Head of Compliance, will report to Ken while retaining their functional reporting lines into the Risk Committee of the Board. Stephen Caplen, ICAP’s Deputy Chief Financial Officer will continue to be responsible for the Group's Global Business Services division and IT infrastructure reporting to Iain Torrens, Group Finance Director.
Ken Pigaga joined ICAP in 2006 as COO for the Americas, where he has driven an agenda focused around the use of technology to drive efficiency and control, and more recently led a multi-disciplined team responsible for the development of ICAP’s SEF which went live on 2 October 2013. Prior to joining ICAP, Mr Pigaga was a Managing Director at JP Morgan in the Investment Bank focused on e-commerce activities. From 1991 to 2001 he was at Goldman Sachs where he held several roles in emerging markets trading, portfolio structuring and e-commerce. Mr Pigaga started his career in 1982 at Salomon Brothers. He has a joint MS-MBA degree from Columbia University.
Michael Spencer said: “In this era of changing regulation and market infrastructure, Ken’s appointment underlines our commitment to improve continually the consistency and robustness of our control environment and risk management across ICAP's global businesses. I am delighted to welcome him to the senior management team.”
|Serra Balls||ICAP Communications UK||+44 (0)20 7050 7124|
|Guy Taylor||ICAP Communications US||+1 212 341 9759|
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. Group companies provide services that match buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information, please go to www.icap.com.