Roy Zimmerhansl, the former Deutsche Bank equity prime services group director who left the bank in London last Spring, has joined inter-dealer broker ICAP as head of electronic securities lending. ICAP is looking to expand its electronic platform to expand into the securities lending market.
Zimmerhansl, who starts work on 1 March 2006, will be based in London and report to Garry Jones, CEO of ICAP Electronic Broking in Europe. At the time he left Deutsche, he was global head of sales and marketing for securities lending. Zimmerhansl previously worked as managing director and head of global collateral management at Rabobank in London. He has held similar positions at Nomura and Chase Manhattan.
“Roy brings to ICAP over 25 years experience in securities lending in both fixed income and equity, in Europe and North America,” says George Macdonald, Chief Executive, London and Europe, for ICAP. “He will spearhead ICAP’s entry in electronic securities lending brokerage, and will be responsible for guiding the launch of a new electronic trading platform covering both the fixed income and equity markets.”
Macdonald says Zimmerhansl will be working closely with ICAP’s existing electronic platforms, using the firm’s technology and e-sales and marketing experience across Europe.
“The time is right for the transition towards electronic trading in this sector,” says Macdonald. “The market is currently fragmented and highly labour-intensive, with manual trade reporting and poor straight through processing. We will be using our electronic platform to improve the internal efficiency of our customers in these markets by closer integration with their systems. ICAP has been discussing the evolution of the securities lending market with participants and is encouraged by support for this new initiative.”