Anthony Warner, chief executive officer of ICAP Plc’s (IAP) Singapore unit, resigned after 25 years with the broker and will leave at the end of this month, two people with knowledge of the matter said.
Danny Cheung, a managing director in Singapore, will succeed Warner, the people said, declining to be identified as the details haven’t been made public yet. Warner’s departure isn’t related to recent staff cuts at ICAP, one person said.
Serra Balls, a spokeswoman for the firm in London, declined to comment.
ICAP, the world’s largest broker of transactions between banks, has been trimming jobs to cushion a slump in trading as securities firms and brokers scale back their fixed-income, currencies and commodities units. The London-based company reported a 19 percent decline in first-quarter revenue.
Warner, 45, joined ICAP in London in 1989 before moving to Singapore in 2010 as a senior vice president, according to his LinkedIn profile. His previous roles included working at Standard Chartered Plc in foreign exchange.
To contact the editors responsible for this story: Chitra Somayaji at email@example.com Paul Panckhurst