Goldman Sachs’ veteran tech head Nash Panchal to take over as MarketAxess CIO
Securities trading platform and market data provider MarketAxess has confirmed Nash Panchal will succeed Nick Themelis as chief information officer (CIO).
The Cambridge computer science graduate will join MarketAxess in March following Themelis’ retirement.
MarketAxess says Themelis, whose last day is 28 February, will stay on in an advisory capacity through 2022 to ensure a smooth transition.
MarketAxess CEO and chairman Rick McVey says Themelis has been “essential” to the business over his 16-year run as CIO. As technology strategy leader, Themelis has overseen “many important innovations throughout this period that have improved trading efficiency and reduced transaction costs for our clients”, McVey adds.
Panchal joins MarketAxess from Goldman Sachs, where he spent 20 years, most recently as managing director and global co-head of technology.
Panchal was previously global head of the investment bank’s asset management portfolio and trading technology, as well as global co-head of fixed income, currencies and commodities technology.
MarketAxess president and chief operating officer Chris Concannon, to whom Panchal will report to in New York, says Panchal brings an “impressive record” of leading and developing global tech organisations.
Concannon anticipates working with Panchal on “the next generation of technology needed to navigate the rapidly evolving electronic trading environment in global fixed income”.