Ex-Barclays equities trading tech head joins electronic trading platform

The London Stock Exchange Group (LSEG) has hired multiple senior technologists from investment banks in the latter half of this year. Now, however, it has lost one of its long-tenured ex-banking technologists to FX electronic trading platform MarketAxess.

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Anand Varma has become MarketAxess' CIO for EMEA and APAC, and the platform's head of post-trade technology. He spent the last six and a half years at LSEG, first as its head of equities technology, then as its CIO.

Prior to that, Varma spent over a decade at Barclays, beginning in Singapore before moving to London to work on equities technology. He spent four years as the bank's head of European equities trading technology.

MarketAxess has been looking to grow its team in 2024. Its Q3 financial results released last month revealed that employee compensation expenses for the first nine months of the year were up 19.6% year-on-year. It attributed this to higher employee headcount, higher "incentive compensation," and higher stock compensation.

Varma isn't the only LSEG alum to find an executive role elsewhere. Andrew Richards, a former LSEG MD and RBS alum, joined insurance giant Howden in October as its group chief data officer.

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