Concannon Named MarketAxess CEO
Posted by Colin Lambert. Last updated: January 10, 2023
Fixed income trading venue MarketAxess, has named Chris Concannon, former head of Cboe Global Markets as its new CEO, shifting him up from his previous role as president and COO of the firm.
Effective 3 April 2023, Richard McVey, currently chairman and CEO, will become executive chairman – Concannon will also continue to serve as a director on the company’s board.
“Since 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,” says Stephen Casper, lead independent director of the MarketAxess Board. “As we head into an era of increasingly automated, data-driven trading, we are fortunate to have in Chris a proven leader deeply experienced in electronic markets. Chris and our strong leadership team are resolutely focused on our company’s immense growth opportunity in the years ahead.”
McVey adds, “In his current role, Chris has provided essential leadership as we successfully introduced a range of new trading protocols, expanded automated trading and execution, deepened our capabilities in data analytics and successfully integrated a number of strategic acquisitions. He will become CEO at a time when our growth potential has never been more promising, and our leadership team is deeper than ever.”
Concannon joined MarketAxess is January 2019 from Cboe, where he was president and COO of Cboe Global Markets, a position he was appointed to upon Cboe’s acquisition of Bats Global Markets in 2017. Prior to Bats, he held senior roles at Nasdaq, Virtu Financial, Instinet and was also an attorney at Morgan, Lewis & Bockius, and the US Securities and Exchange Commission.
“Across 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 ETFs,” says Concannon.