TradeWeb Names Lee Olesky President of TradeWeb Group and TradeWeb Europe
TradeWeb Europe looks to extend its leadership with Olesky
London (1 March 2002) - TradeWeb Group LLC, the leader in online bond markets, announced today the appointment of Lee Olesky as President of the TradeWeb Group and CEO and President of TradeWeb Europe Ltd., the company's European Operating Company. Mr. Olesky will be based in London and report to Jim Toffey, Group CEO. Mr. Olesky has over 13 years experience in the fixed-income markets working in New York and London in a variety of senior positions. Most recently, Mr. Olesky was CEO and President of BrokerTec Europe in London and served on the company's Global Board. Mr. Olesky joined BrokerTec at its formation in 1999 to develop the business plans and establish operations for the company. Prior to BrokerTec, Mr. Olesky spent 6 years at Credit Suisse First Boston most recently as the Chief Operating Officer for the fixed-income division. He has a J.D. from George Washington University law school and a B.A. from Tulane University.
Jim Toffey, CEO of TradeWeb, said: "I am delighted that Lee is joining TradeWeb. We have known each other for years and worked very closely in setting up TradeWeb while we were both at CSFB. With his experience at BrokerTec Europe, and his past involvement in TradeWeb, he is the right executive to lead our European operation and be an important member of our senior global management team."
Lee Olesky said: "TradeWeb is the preeminent dealer-to-client electronic trading platform and I am extremely excited to be joining such a rapidly growing financial services business. TradeWeb has proven to be the most efficient way for buy side institutions to trade with dealers in the US liquid bond markets and we have a tremendous opportunity to match that success in Europe in a variety of products. I look forward to working with TradeWeb's, dealers, clients, and employees as we continue to strive for even greater efficiency and smart access to the world's bond market liquidity."
TradeWeb Europe Ltd. is expanding rapidly. Its customer base has grown dramatically during the past year, adding over 180 buy side institutions on its network, including central banks, major corporate investors, and leading investment institutions. Daily trading volumes are up to Euro 4 billion for Euro Sovereigns, Pfandbriefe, US Treasuries, and Agency debt securities. Liquidity is provided by leading fixed-income market makers, including Credit Suisse First Boston, Goldman Sachs, Lehman Brothers, Merrill Lynch, Salomon Smith Barney, Morgan Stanley, Deutsche Bank, JP Morgan, ABN Amro, Barclays Capital, Bear Stearns, Greenwich Capital Markets, UBS Warburg, Commerzbank, HSBC Group, Societe Generale, BNP Paribas, and Dresdner Kleinwort Wasserstein.
TradeWeb's current leadership in Europe follows four years of strong growth for the company in the US liquid bond markets. Since its first electronic trade was executed in January 1998, over $9 trillion in volume has been completed on TradeWeb's integrated, global trading platform for liquid fixed-income securities. The company also provides fixed-income market professionals with premier market data for US Treasuries, Agencies, TBA-MBS, and Euro Sovereigns through data distribution agreements with MoneyLine Telerate and Reuters.
About TradeWeb
TradeWeb Group LLC is the global leader in online fixed-income markets with more than 1.5 million trades executed and total volume exceeding $9 trillion since its inception in 1998. TradeWeb's multi-dealer model links eighteen of the world's leading dealers of fixed-income securities with more than 1,000 buy-side institutions in North America and Europe. The company's technological platform is utilized by clients to trade US Treasury and Agency debt securities, TBA agency mortgage-backed securities, commercial paper, Euro Sovereign debt securities, and Pfandbriefe. For more information about TradeWeb, please visit the company's website at www.tradeweb.com or contact Steve Hall at 44 (0) 20 7776 3200.