MarketAxess has announced the departure of its Chief
Financial Officer, Christopher Gerosa, who is set to step down on January
31, 2024. Gerosa’s decision arrives as he embarks on a new journey within the
private sector, joining a technology solutions firm catering to the commercial
banking sector.
Chris Concannon, MarketAxess’ CEO, said: “On
behalf of the Board of Directors and the leadership team, I want to thank Chris
for his leadership of the finance organization over the last several years, and
we wish him all the best in his next role.”
Gerosa shared his contentment about his accomplishments
during his tenure, highlighting the expansion of the global client network and
the establishment of new product initiatives for future growth.
“It has been a privilege working with the Board
of Directors and alongside the leadership team at MarketAxess as we have
expanded our global client network and established new product cylinders to
drive future growth,” Gerosa said.
Founded in 2000, MarketAxess operates an electronic
trading platform , delivering liquidity to institutional investors and
broker-dealers in the global fixed-income markets. Last month, the company
unveiled its earnings report for the third quarter of 2023.
During the period, MarketAxess reported revenue of
$172.3 million, aligning with the previous year. However, a notable decline in
operating income to $66.9 million resulted from an increase of 10% in
total expenses. These expenses were driven by long-term investments in the
global fixed-income markets, the company noted.
MarketAxess’ Financial Report
Despite the hurdles, MarketAxess maintained a strong
financial position with $553.3 million in cash, cash equivalents, and
investments. The company announced a quarterly cash dividend of $0.72 per
share, underscoring its commitment to shareholder value amidst the evolving
financial landscape.
MarketAxess adjusted its full-year expense
guidance, now ranging from $432.0 million to $438.0 million. Despite challenges
posed by low credit spread volatility and increased expenses, the company’s
diversified product offerings portray a positive
outlook for the future.
Meanwhile, Bloomberg, MarketAxess,
and Tradeweb forged a strategic alliance in May. The collaboration established
a fixed-income consolidated tape provider in the European Union. This
initiative aims to facilitate open and impartial access to meaningful and
helpful data using the existing infrastructure.
MarketAxess has announced the departure of its Chief
Financial Officer, Christopher Gerosa, who is set to step down on January
31, 2024. Gerosa’s decision arrives as he embarks on a new journey within the
private sector, joining a technology solutions firm catering to the commercial
banking sector.
Chris Concannon, MarketAxess’ CEO, said: “On
behalf of the Board of Directors and the leadership team, I want to thank Chris
for his leadership of the finance organization over the last several years, and
we wish him all the best in his next role.”
Gerosa shared his contentment about his accomplishments
during his tenure, highlighting the expansion of the global client network and
the establishment of new product initiatives for future growth.
“It has been a privilege working with the Board
of Directors and alongside the leadership team at MarketAxess as we have
expanded our global client network and established new product cylinders to
drive future growth,” Gerosa said.
Founded in 2000, MarketAxess operates an electronic
trading platform , delivering liquidity to institutional investors and
broker-dealers in the global fixed-income markets. Last month, the company
unveiled its earnings report for the third quarter of 2023.
During the period, MarketAxess reported revenue of
$172.3 million, aligning with the previous year. However, a notable decline in
operating income to $66.9 million resulted from an increase of 10% in
total expenses. These expenses were driven by long-term investments in the
global fixed-income markets, the company noted.
MarketAxess’ Financial Report
Despite the hurdles, MarketAxess maintained a strong
financial position with $553.3 million in cash, cash equivalents, and
investments. The company announced a quarterly cash dividend of $0.72 per
share, underscoring its commitment to shareholder value amidst the evolving
financial landscape.
MarketAxess adjusted its full-year expense
guidance, now ranging from $432.0 million to $438.0 million. Despite challenges
posed by low credit spread volatility and increased expenses, the company’s
diversified product offerings portray a positive
outlook for the future.
Meanwhile, Bloomberg, MarketAxess,
and Tradeweb forged a strategic alliance in May. The collaboration established
a fixed-income consolidated tape provider in the European Union. This
initiative aims to facilitate open and impartial access to meaningful and
helpful data using the existing infrastructure.
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- Source: https://www.financemagnates.com//executives/marketaxess-leadership-shake-up-cfo-christopher-gerosa-to-step-down/
