Tradeweb, the market operator for rates, credit, equities and money markets, has implemented leadership changes as part of its previously-announced succession plan.
Effective 1 January, 2023, Billy Hult became chief executive officer of Tradeweb Markets and Thomas Pluta became the company’s president. Both Hult and Pluta will continue on the board of directors. Lee Olesky, formerly chairman and CEO, retired as Tradeweb CEO on December 31, 2022 and now serves as non-executive chairman of the board.
Hult was previously president of Tradeweb, a position he held from 2008 through 2022. Since joining the company in 2000, he has played a pivotal role in Tradeweb’s evolution as a leading global operator of electronic marketplaces for rates, credit, equities and money markets. Hult spearheaded the development of several of Tradeweb’s marketplaces, including mortgages and wholesale electronic trading, and has been a strong proponent of connecting liquidity providers and investors across retail, wholesale and institutional markets. He was instrumental in numerous Tradeweb acquisitions, including Hilliard Farber (2008), Rafferty Capital Markets (2011), J.J. Kenny Drake (2011) and Nasdaq’s former eSpeed platform for electronic bond trading (2021).
Pluta joined Tradeweb in 2022 and has been a member of the board since 2017. As president, he oversees all aspects of the company with direct responsibility for US institutional fixed income and equities, Dealerweb and Tradeweb Direct, as well as risk and compliance. Pluta joined Tradeweb from JP Morgan, where he spent nearly 27 years and was most recently global head of linear rates trading and co-head of North America rates trading.
Hult commented, “We’re entering into an exciting new era for Tradeweb. While we’ve planted our flag as innovators in electronifying markets, there are enormous opportunities to make markets more efficient and for Tradeweb as a company to realise meaningful and sustained growth. This leadership team represents a strong combination of Tradeweb veterans and newer additions to the team, and we are energised to help our clients and partners navigate these complex markets.”
©Markets Media Europe, 2022
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