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The 2014 Trading Technology 40: Mark Beeston

10
Mark Beeston
Chief Executive Officer, Portfolio Risk Services
ICAP
Last year: 12

Struggling to regain earnings momentum amid “subdued market conditions,” as ICAP group chief executive Michael Spencer has characterized them, the London-based interdealer brokerage turned a corner in the six months ended September 30. Although total revenue declined 1 percent year-over-year, to £736 million ($1.2 billion), operating profits jumped 6 percent, to £153 million. Most credit goes to a cost reduction program, but ICAP did not scrimp on capital expenditures (£30 million, compared with £12 million the year before), many of them in the posttrade risk and information businesses led by Mark Beeston. “We are investing in and committed to posttrade innovation,” declares the 42-year-old, who has been CEO of portfolio risk services since 2010 and is a director of the new swaps execution facility, ICAP SEF. Traiana, operator of the Harmony processing infrastructure, is one of ICAP’s growth stars, increasing first-half revenue by 18 percent, to £24 million. Another unit, TriOptima, is “growing exponentially,” Beeston says, because its trading-risk-mitigation services reduce clients’ capital costs and systemic exposures. Euclid Opportunities, a posttrade-oriented strategic investment vehicle, also reports to him.

See also Beeston's profiles in the 2013 Trading Technology 40 and the 2012 Trading Technology 30.


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