Tradeweb Appoints New CEO
Jersey City, NJ ( September 9, 2008) - Tradeweb, a leading over-the-counter, multi-asset class, online marketplace owned by Thomson Reuters and 10 leading dealers, today announced that Lee Olesky has been appointed CEO of Tradeweb. Olesky was previously President and is a Co-founder of Tradeweb. The announcement follows the departure of Jim Toffey, Co-founder and CEO of Tradeweb since 1998. Toffey is leaving the firm to pursue other opportunities.
Olesky has more than two decades of experience in the global fixed income markets, and for the past six years has focused on growing Tradeweb internationally and driving expansion into the derivatives markets. Prior to Tradeweb, Olesky was a Co-founder and CEO of BrokerTec, an electronic inter-dealer broker (sold to ICAP in 2003).
Billy Hult has been appointed President of Tradeweb and Head of U.S. Operations. Hult joined Tradeweb in 2000 and is responsible for originating and growing many of the Company's successful businesses in the U.S., including its TBA-Mortgage and US Treasury franchises. Prior to joining Tradeweb, Hult was a mortgage-backed securities trader at Société Générale.
"In just 10 years, Tradeweb has evolved from a start-up to the premier trading platform for fixed income and derivatives," said Vic Simone, Managing Director of Goldman Sachs and Chairman of the Tradeweb Board of Directors. "I see Jim, Lee and Billy's contributions to Tradeweb manifested in its growth and reputation, and also in the motivation and principles of the entire staff."
Tradeweb is a leading over-the-counter, multi-asset class online marketplace, and a pioneer in the development of electronic trading and trade processing. The company provides services in the fixed income, derivative, and equity markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global trading network, which harnesses the distribution of the major investment banks with over 2,000 institutional clients. With its expansion into the equity markets, Tradeweb is leveraging AutEx, the industry leader for 40 years in providing indications of interests, and Tradeweb Routing Network, a global FIX network with more than 7,500 connections to over 750 firms. Tradeweb is owned by Thomson Reuters and ten leading global dealers.