- Push-out Score determined
- After 15 years in the position
- Accolades, praise and thanks for Olesky
- Billy Hult taking over
- Olesky will remain as Chairman at Tradeweb
- Olesky spoke at length and said 133 words
(exechange) — New York, February 16, 2022 — Lee Olesky, chief executive of Tradeweb, leaves his post. His departure is made public at an early stage. As announced by Tradeweb Markets Inc. in a news release and in a regulatory filing published on Wednesday, February 16, 2022, Lee Olesky leaves his post as chief executive officer at the operator of electronic marketplaces for rates, credit, equities and money markets, after 15 years in the role, effective December 31, 2022.
It is the end of an era.
Long goodbye
It is a long goodbye. The announcement of Lee Olesky’s move comes up to 10 months prior to his planned departure from the post of CEO.
Lee Olesky’s duties as CEO will be taken over by William (Billy) Hult, currently President at Tradeweb Markets Inc.
“A very thoughtful transition”
Tradeweb did not give an explicit reason for Lee Olesky’s departure from the CEO post. Paula Madoff, who has been elected as the Board’s Lead Independent Director, effective February 11, 2022, said: “This is a very thoughtful transition at both the Board and executive levels, and will ensure continued success and good governance. The company and the Board are well prepared to lead the next chapter in Tradeweb’s growth story.”
Olesky will remain as Chairman at Tradeweb
“Martin Brand has stepped down as Chairman and is leaving the Board after a successful three years in the role. The Board will fill his vacancy in the coming months. Mr. Olesky will serve as both Chairman and CEO of Tradeweb through 2022, after which he will continue to serve as Chairman through 2023. Director Paula Madoff has been elected as the Board’s Lead Independent Director, effective February 11, 2022,” Tradeweb said.
“Retire”
Tradeweb said: “Tradeweb co-founder and Chief Executive Officer Lee Olesky has been elected Chairman of the Board effective February 11, 2022, and will retire as CEO effective December 31, 2022.”
Share price increase since April 2019
The announcement follows an increase in Tradeweb Markets Inc.’s share price of 136% since April 2019.
In the position of CEO since 2008
Lee Olesky became CEO of the Company in 2008.
Olesky is the Company’s co-founder and has served as Tradeweb’s Chief Executive Officer and on its Board since its formation.
Olesky has been TWM LLC’s Chief Executive Officer since September 2008 and, prior to the Reorganization Transactions, served on the former board of managers of TWM LLC beginning in 2008.
After being the Company’s founding Chairperson of the Board from 1996 to 1998, Olesky rejoined the Company in February 2002 in London as President, driving the Company’s expansion in Europe and into the global derivatives markets.
He then led the expansion of Tradeweb into Asia, opening offices in Tokyo, Hong Kong and Singapore.
Prior to returning to the Company, Olesky worked at Credit Suisse First Boston from 1993 to 1999 in a variety of management positions, ultimately as Chief Operating Officer for the Fixed Income Americas division.
Following his time at Credit Suisse First Boston, from 1999 to 2002, he served as Chief Executive Officer of BrokerTec, an electronic brokerage platform that he co-founded.
He received a B.A. from Tulane University and a J.D. from The George Washington University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Lee Olesky’s move on a scale of 0 to 10.
exechange reached out to Tradeweb and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 8.2022 ($).