Tradeweb Markets Inc. (Nasdaq: TW), one of the world’s leading operators of electronic markets for rates, credit, equity and money markets, today announced that markets veteran Thomas Pluta has been named next president. He will join the company as president-elect in October and become president on January 1, 2023, when current chairman Billy Hult succeeds Lee Olesky as CEO. As previously announced, Mr. Olesky will retire as CEO at the end of 2022 and remain Chairman until 2023.
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Thomas Pluta, President-Elect, Tradeweb (Photo: Business Wire)
As President, Mr. Pluta will work closely with Mr. Hult and the rest of the management team to set and execute the company’s strategic agenda, oversee day-to-day operations and continue to foster a strong culture of collaborative innovation. He will report to Mr. Hult. A Tradeweb board member since 2017, Mr. Pluta will continue to serve on the board in his new role.
Mr. Pluta will join Tradeweb from JP Morgan, where he spent nearly 27 years and was most recently Global Head of Linear Rates Trading and Co-Head of North American Rates Trading.
Lee Olesky, President and CEO of Tradeweb, commented, “Tom Pluta is a superb addition to Tradeweb as the company navigates its next phase of growth. At one time or another, Tom’s relationship with Tradeweb has included customer, trader, investor and board member, and this broad perspective will be a great asset to Billy Hult’s management team as well as the board of directors. We wish Tom all the best in his new role.
Billy Hult, President and CEO-elect of Tradeweb, said, “Tom Pluta is one of the most experienced, knowledgeable and thoughtful leaders in the global capital markets. A seasoned business executive, operator and strategist, he brings the perspective of a long-time client and also focuses on strategic issues such as industry trends, DEI initiatives and the importance of having a culture. solid business. Tradeweb is home to a group of talented leaders and we are delighted to welcome Tom to the team as we position the business for future growth. »
Thomas Pluta, President-elect of Tradeweb, commented: “Tradeweb has built an excellent reputation for working with buying companies, dealers and other market players and emphasizing a customer-focused approach. customer. Billy and Lee have tremendous chemistry as leaders, and that same partner mindset has helped this talented global team deliver a steady stream of innovation for Tradeweb’s clients. The company is a driving force in the electronic markets, and I look forward to helping Tradeweb build on its long track record of success.
About Thomas Pluta
Mr. Pluta was most recently Global Head of Linear Rates Trading and Co-Head of North American Rates Trading at JP Morgan. During his nearly 27 years with the bank, Mr. Pluta traded and managed various global trading teams in the global rates, emerging markets and foreign exchange sectors. Prior to leading the Linear Rates trading business, he held numerous leadership roles including Co-Head of Global Rates Trading and Global Head of Short-Term Interest Rates Trading. Mr. Pluta most recently served as Head of Corporate and Investment Banking for JP Morgan’s enterprise-wide LIBOR transition program and was a member of the Management Group management team. rates, fixed income financing and credit portfolio. Throughout his career, he has long been a strong advocate for advancing the people agenda and has held leadership positions in various diversity and inclusion, recruitment and culture-building efforts.
Mr. Pluta has held a variety of industry leadership positions throughout his career, including Chairman of the Board of SIFMA and a member of the Treasury Market Practices Group at the Federal Reserve Bank of New York. . He earned a bachelor’s degree in economics from
Yale University and an MBA in General Management from Harvard Business School.
Tradeweb reiterates its guidance for 2022*
Tradeweb today reiterates its guidance for 2022 previously confirmed on April 28, 2022.
Adjusted spending: $620 to $655 million
Amortization expense related to the Refinitiv acquisition and transaction: $127 million
Assumed non-GAAP tax rate: ~22.0%
Capital expenditures and software development capitalization: $62-68 million
* Operating expenses and GAAP tax rates are not provided due to the inherent difficulty in quantifying certain amounts due to various factors, including the unpredictability of exchange rate movement.
About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) is one of the world’s leading operators of electronic markets for rates, credit, stocks and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, e-commerce, straight through processing and reporting for over 40 commodities to clients in institutional, wholesale and retail markets. The advanced technologies developed by Tradeweb improve price discovery, order execution and trading workflows while enabling greater scale and helping to reduce risk in clients’ trading operations. Tradeweb serves approximately 2,500 customers in over 65 countries. On average, Tradeweb has facilitated over $1 trillion in notional value traded per day over the past four quarters. For more information, visit www.tradeweb.com.
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