Pluta to succeed current President Billy Hult
on January 1, 2023 when Hult becomes CEO
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today announced that markets veteran Thomas Pluta has been
appointed as its next President. He will join the firm as
President-elect in October and become President on January 1, 2023,
when current President Billy Hult succeeds Lee Olesky as CEO. As
previously announced, Mr. Olesky will retire as CEO at the end of
2022 and continue as Chairman through 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 executive management team to set and execute against
the firm’s strategic agenda, oversee the day-to-day business and
continue to drive a strong culture of collaborative innovation. He
will report to Mr. Hult. A member of Tradeweb’s board since 2017,
Mr. Pluta will continue on the board of directors 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 America Rates Trading.
Lee Olesky, Chairman and CEO of Tradeweb, commented: “Tom Pluta
is a superb addition to Tradeweb as the company looks ahead to its
next phase of growth. At one point or another, Tom’s relationship
with Tradeweb has included client, trader, investor and board
member, and that broad perspective will be a great asset to Billy
Hult’s leadership team as well as to the board. We wish Tom all the
best in his new role.”
Billy Hult, President and CEO-elect of Tradeweb, commented: “Tom
Pluta is one of the most experienced, skilled and thoughtful
leaders in global financial markets. A veteran trading executive,
operator and strategist, he brings the perspective of a longtime
client and is also keenly focused on strategic issues such as
industry trends, DEI initiatives and the importance of having a
strong company culture. Tradeweb is home to a talented group of
leaders and we are thrilled to welcome Tom to the team as we
position the firm for further growth.”
Thomas Pluta, President-elect of Tradeweb, commented: “Tradeweb
has earned an excellent reputation by collaborating with buyside
firms, dealers and other market participants and emphasizing a
client-first approach. Billy and Lee have terrific chemistry as
leaders, and that same partner mindset has helped this talented
global team deliver a continuous stream of innovations for Tradeweb
clients. The firm is a driving force in electronifying 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 America Rates
Trading at JP Morgan. During his nearly 27 years with the bank, Mr.
Pluta traded and managed a variety of global trading teams across
the Global Rates, Emerging Markets and Foreign Exchange businesses.
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 Rate Trading. Mr. Pluta
recently served as the Corporate and Investment Bank lead for JP
Morgan’s firm-wide LIBOR Transition Program and was a member of the
Rates, Fixed Income Financing, and Credit Portfolio Group
Management Team. Throughout his career, he has long been a strong
proponent of advancing the people agenda and has held leadership
positions in various diversity & inclusion, recruiting, and
culture-building efforts.
Mr. Pluta has held a variety of industry leadership roles
throughout his career, including chairman of the board of SIFMA and
member of the Federal Reserve Bank of New York’s Treasury Market
Practices Group. He received a B.A. in Economics from Yale
University and an M.B.A. in General Management from the Harvard
Business School.
Tradeweb Reiterates Full-Year 2022 Guidance*
Tradeweb today reiterates its full-year 2022 guidance previously
confirmed on April 28, 2022.
- Adjusted Expenses: $620 - $655 million
- Acquisition and Refinitiv Transaction related depreciation and
amortization expense: $127 million
- Assumed non-GAAP tax rate: ~22.0%
- Capital expenditures and capitalization of software
development: $62 - $68 million
*GAAP operating expenses and tax rate guidance are not provided
due to the inherent difficulty in quantifying certain amounts due
to a variety of factors including the unpredictability in the
movement of foreign currency rates.
About Tradeweb Markets Tradeweb Markets Inc. (Nasdaq: TW)
is a leading, global operator of electronic marketplaces for rates,
credit, equities and money markets. Founded in 1996, Tradeweb
provides access to markets, data and analytics, electronic trading,
straight-through-processing and reporting for more than 40 products
to clients in the institutional, wholesale and retail markets.
Advanced technologies developed by Tradeweb enhance price
discovery, order execution and trade workflows while allowing for
greater scale and helping to reduce risks in client trading
operations. Tradeweb serves approximately 2,500 clients in more
than 65 countries. On average, Tradeweb facilitated more than $1
trillion in notional value traded per day over the past four
quarters. For more information, please go to www.tradeweb.com.
Forward-Looking Statements This release contains
forward-looking statements within the meaning of the federal
securities laws. Statements related to, among other things, our
outlook and future performance, including our full-year 2022
guidance, the industry and markets in which we operate, our
expectations, beliefs, plans, strategies, objectives, prospects and
assumptions and future events are forward-looking statements.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. These and other important
factors, including those discussed under the heading “Risk Factors”
in documents of Tradeweb Markets Inc. on file with or furnished to
the SEC, may cause our actual results, performance or achievements
to differ materially from those expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements
contained in this release are not guarantees of future performance
and our actual results of operations, financial condition or
liquidity, and the development of the industry and markets in which
we operate, may differ materially from the forward-looking
statements contained in this release. In addition, even if our
results of operations, financial condition or liquidity, and events
in the industry and markets in which we operate, are consistent
with the forward-looking statements contained in this release, they
may not be predictive of results or developments in future
periods.
Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
law, we do not undertake any obligation to update or revise, or to
publicly announce any update or revision to, any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220713005857/en/
Media: Daniel Noonan, Tradeweb +1 646 767 4677
daniel.noonan@tradeweb.com Investors: Ashley Serrao,
Tradeweb +1 646 430 6027 ashley.serrao@tradeweb.com
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