MarketAxess Appoints Raj Paranandi as Chief Operating Officer for EMEA & APAC

Rhea-AI Summary

MarketAxess Holdings (Nasdaq: MKTX) announced the appointment of Raj Paranandi as Chief Operating Officer for EMEA & APAC, effective March 1, 2021. Paranandi joins from UBS, where he led digital transformation. His experience will focus on operational oversight, technology development, and strategic initiatives for expanding international business. He will report to Christophe Roupie and work closely with Chris Concannon. This leadership change aims to bolster MarketAxess’s growth in fixed-income markets, leveraging his expertise in technology and operations.

Positive

• Raj Paranandi brings extensive operational leadership experience, particularly in technology and business transformation.
• The appointment aims to enhance MarketAxess's international growth and operational efficiency.

Negative

• Potential concerns about continuity with management change; the new COO may need time to acclimate.
• Experience gap could exist as Paranandi transitions from UBS to MarketAxess, posing a challenge in immediate strategic execution.

LONDON, Jan. 13, 2021 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced the appointment of Raj Paranandi as Chief Operating Officer, EMEA & APAC. The appointment is effective March 1^st, 2021.

“Raj brings with him an impressive record of front-to-back operational leadership and successful strategic transformation”, said Christophe Roupie, Head of EMEA and APAC at MarketAxess. “His experience in building new business lines and leading major technology and infrastructure change programs will be highly valuable to us as we seek to expand our international business into new markets, sectors and product lines.”

Based in London, Mr. Paranandi will have day-to-day operational oversight for EMEA & APAC, including technology and product development, client and account services, data operations, regulatory operations and controls, settlements and middle-office functions. He will play a lead role in setting the long-term goals for the international business and lead new strategic change management initiatives. He will report to Christophe Roupie and work closely with Chris Concannon, President and Chief Operating Officer at MarketAxess.

“This is a wonderful opportunity to join a market leader that is driving evolution and innovation across global fixed income markets”, commented Mr. Paranandi. “The pace of the firm’s growth, and the many opportunities that its growing portfolio of trading, data and post-trade solution presents, is outstanding. I’m looking forward to adding my experience to the MarketAxess team as we look to sustain that pace and enhance the resilience, scalability and agility of the international business.”

Mr. Paranandi joins MarketAxess from UBS, where he was most recently Global Co-Head of Digital Transformation for UBS Global Markets & Global Head of Change for UBS Investment Bank. Prior to this, he spent four years as Global Chief Operating Officer for FX, Rates and Credit at UBS Investment Bank, focussed on developing a world-class fixed income business through technology re-engineering and business process simplification. Previous roles include technology and operational leadership roles at Barclays, Credit Suisse and Accenture. He has also served as a board member of the Global Financial Markets Association (GFMA).

About MarketAxess
MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,800 firms, including the world’s leading asset managers and institutional broker-dealers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. MarketAxess’ award-winning Open Trading™ marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.

MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.

MarketAxess Media Relations Contacts:

Toby West
MarketAxess Holdings, Inc.
+44 (0)20 7709 3270
twest@marketaxess.com

FAQ

Who is Raj Paranandi and what will be his role at MarketAxess?

Raj Paranandi has been appointed as Chief Operating Officer for EMEA & APAC at MarketAxess, effective March 1, 2021. He will oversee daily operations, technology development, and strategic initiatives.

What experience does Raj Paranandi have before joining MarketAxess?

Before joining MarketAxess, Raj Paranandi served as Global Co-Head of Digital Transformation at UBS and has held various roles focused on operational leadership and business process simplification.

What is the expected impact of Raj Paranandi's appointment on MarketAxess?

His appointment is expected to enhance MarketAxess's growth in international markets and improve operational efficiency through his expertise in technology and strategic transformation.

When does Raj Paranandi start his role at MarketAxess?

Raj Paranandi's appointment as Chief Operating Officer for EMEA & APAC is effective March 1, 2021.

Who does Raj Paranandi report to at MarketAxess?

Raj Paranandi will report to Christophe Roupie, Head of EMEA and APAC, and work closely with Chris Concannon, President and COO.