New Tradeweb CEO

September 22, 2008

Fixed-income platform operator Tradeweb announced that president and co-founder Lee Olesky has been named chief executive, replacing co-founder Jim Toffey, CEO since 1998. According to Jersey City, N.J.-based Tradeweb--co-owned by Thomson Reuters and ten major broker-dealers--Toffey left the company "to pursue other opportunities."

In a statement, Tradeweb noted that Olesky, co-founder and former CEO of BrokerTec, a fixed-income marketplace acquired by interdealer brokerage Icap in 2003, has been focused on Tradeweb's international expansion and move into the derivatives market. Billy Hult, managing director and head of U.S. operations, is now president. Hult joined Tradeweb in 2000 from Société Générale, where he was a mortgage-backed securities trader.

"In just ten years, Tradeweb has evolved from a start-up to the premier trading platform for fixed income and derivatives," said Vic Simone, Tradeweb chairman and managing director of Goldman Sachs. "I see Jim's, Lee's and Billy's contributions to Tradeweb manifested in its growth and reputation, and also in the motivation and principles of the entire staff."

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