Tradeweb Hires Sara Furber as Chief Financial Officer

Tradeweb Markets has appointed Sara Furber as its Chief Financial Officer, succeeding Robert Warshaw who will leave the company following a period of transition, and reporting to CEO Lee Olesky.

Sara Furber, who will become a member of the executive leadership team, joins Tradeweb from IEX Group, a U.S. equity exchange operator. There she was CFO since 2018, leading the company’s finance function and also overseeing its new business portfolio, including technology businesses such as data platform IEX Cloud.

Prior to joining IEX in 2016, Ms. Furber spent two decades in senior roles at Morgan Stanley and Bank of America Merrill Lynch. Top roles at Morgan Stanley included Managing Director, a member of the firm’s Management Committee, and COO for Wealth Management.

At Bank of America Merrill Lynch, she served as Chief Operating Officer for Global Corporate and Investment Banking after leading Investor Relations during the global financial crisis and through its merger with Bank of America.

Lee Olesky, Chief Executive Officer at Tradeweb, commented: “Sara Furber brings to Tradeweb a wealth of experience including diverse senior roles in financial markets, banking, investor relations, technology and electronic trading.

“Tradeweb is a growth company at the intersection of finance and technology, and Sara is uniquely suited to lead our finance team and help Tradeweb navigate its next phase of growth and development. I would like to thank Bob Warshaw for his many important contributions to Tradeweb since joining us in 2009, and especially for his vital role in Tradeweb’s 2019 IPO and our early days as a public company.”

Tradeweb has also reiterated its full-year 2021 guidance, which includes the following figures:

Adjusted Expenses: $565 – $580 million
Acquisition and Refinitiv Transaction related depreciation and amortization expense: $124 million
Assumed non-GAAP tax rate: 22.0%
Capital expenditures and capitalization of software development: $49 – $53 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.

The operator of electronic marketplaces for rates, credit, equities, and money markets has recently hired Devi Shanmugham as Global Head of Compliance.

Ms. Shanmugham, who will be fostering the firm’s compliance culture and relationships with regulators across the globe, joins Tradeweb from Bloomberg LP, where she was Chief Compliance Officer for Bloomberg Swap Execution Facility (SEF).

Prior to that, she was Assistant General Counsel at GFI Group and Assistant General Counsel at JPMorgan Chase Bank.

In July, Tradeweb appointed Dan Cleaves as a Managing Director for its Dealerweb wholesale unit, where he will be leading the strategy and development of the Dealerweb Central Limit Order Book (CLOB) recently acquired from Nasdaq.