12.06.2021
ATLANTA–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced a series of senior leadership changes across the company under Chief Executive Officer Jeff Sprecher that reflect the firm’s expansion in recent years and position it for continued growth in its third decade. The leadership changes, designed to continue delivering value for ICE customers, shareholders, and other stakeholders, draw entirely from deep and diverse talent within the organization, providing these leaders an opportunity to help grow the business in new ways and expand their management roles.
“When a handful of colleagues and I founded ICE over twenty years ago, our simple idea was to make trading more automated and transparent, and that purpose anchored our original leaders as we grew exponentially, and their duties grew along with the firm,” said Jeff Sprecher, Founder, Chairman and CEO of Intercontinental Exchange. “Now with a market capitalization of over $70 billion, and a substantially transformed company from our origins, it’s more important than ever to challenge our leaders to take on new tasks and acquire new skills as we serve a new and ever evolving marketplace.”
Below is a letter that Sprecher shared with the company’s nearly 10,000 employees today.
To my ICE colleagues:
All around us, the world is changing. The market environment in 2021 is vastly different than when we began our journey in 2000.
- At COP26, which concluded in Glasgow last month, the private sector pledged $130 trillion in finance commitments to address climate change, which provides great opportunity in many areas of our exchanges segment.
- Investors are seeking increased transparency in the fixed income markets, punctuated by a demand for more ESG data to guide investing in the $128 trillion bond market, an opportunity that’s still in the early innings for our fixed income and data segment.
- The increasing cost of originating mortgages and changing regulatory framework are driving demand for increased efficiency and transparency in this space, trends that will continue to benefit our mortgage technology segment.
- At the New York Stock Exchange, Sharon Bowen, an ICE and NYSE Board Member, one of the nation’s leading finance and securities lawyers, and formerly a Commissioner of the Commodity Futures Trading Commission (CFTC), will become the next Chair of the NYSE. In addition, Lynn Martin, currently President, ICE Fixed Income and Data Services, has been appointed the next President of the NYSE, succeeding Stacey Cunningham, who is beginning a new chapter in her career and will join the Board of Directors of the NYSE. I’ll share more thoughts on Stacey at the end of this note.
- Lynn will lead the NYSE with a knowledgeable, collaborative, and outstanding team of executives, including Michael Blaugrund, the Exchange’s Chief Operating Officer, and John Tuttle, its Vice Chairman and Chief Commercial Officer. In addition, Hope Jarkowski, formerly the Co-head of Government Relations at ICE and currently the NYSE’s Head of Equities, will become its General Counsel, replacing Elizabeth King who, you’ll note below, is taking on additional ICE-wide responsibilities.
- While Lynn assumes her new role at 11 Wall Street, she will continue to serve as Chair of ICE Fixed Income and Data Services to help guide that business as Amanda Hindlian, currently the Global Head of Capital Markets at the NYSE, becomes its new President. The global business that Amanda will now lead includes our evaluated pricing business, which prices nearly 3 million securities daily, and our rapidly growing index business. As this business continues to expand, Mark Heckert, the Chief Product Officer of ICE Fixed Income and Data Services, will add leadership of the index and desktop areas of the segment as he broadens his duties.
- Turning to ICE as a whole, Mark Wassersug, ICE’s Chief Operating Officer, will transition to a new role as the company’s Chief Information Officer, overseeing our industry leading technology implementations across our growing business and working closely with Mayur Kapani, ICE’s Chief Technology Officer. As Mark moves into this position, Stuart Williams will succeed him as Chief Operating Officer of ICE, reporting to ICE President Ben Jackson. Stuart, who is currently President of ICE Futures Europe, will remain in that post until a successor is identified and in place.
- As part of this transition of Stuart into a new role, Trabue Bland, currently President of ICE Futures U.S., will oversee all of ICE’s Futures Exchanges, which will continue to report to Ben. Adding to Trabue’s team, Jennifer Ilkiw, now the head of ICE Asia Pacific, will relocate to New York to serve as President of ICE Futures U.S.
- Rounding out the organizational changes, Elizabeth King, ICE’s Chief Regulatory Officer, who will report to me, will add responsibilities for ICE ESG, our burgeoning product initiative around sustainable investing. Elizabeth will also oversee the NYSE’s Board Advisory Council, which works with the CEOs of NYSE-listed firms to identify diverse candidates for boards of directors of venture-funded and newly public companies. In addition, Chris Edmonds, who also reports to me and has been leading our clearing businesses, will see his role expanding as Chief Development Officer for ICE, adding oversight of ICE’s marketing and communications, in addition to his other duties.