TP ICAP Parts Ways with CEO John Phizackerley

[kreslik.news]

TP ICAP, the world’s largest interdealer broker, announced today that its Chief Executive Officer, John Phizackerley, will step down with immediate effect. As a result of the sudden move, shares in the company fell by more than 25 per cent.

At the same time, the broker warned that it would need to change its targets due to Brexit-related costs. This is expected to cause a dip in the company’s 2018 underlying operating profit, which will be below analysts expectations.

Speaking to the Financial Times, Phizackerley said he had only been told of the decision on Monday. In addition, ... (read more)