TP ICAP Taps Veteran Banker Kath Cates as Non-Exec Director

Interdealer broker TP ICAP has hired Kath Cates, former global chief operating officer for Standard Chartered Bank, as a non-executive director.

Cates will also take on the role of Chair of the Risk Committee, replacing the current interim head Michael Heaney, who would retain his position on the TP ICAP board. The outgoing chair would also remain a member of the risk, remuneration and nominations & governance committees.

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Kath brings nearly three decades of experience in a variety of roles in the financial services industry, both in the UK and overseas. She was previously global COO of Standard Chartered until 2013 and also spent 22 years at UBS, most recently in the firm’s Zurich office as global head of compliance.

During this long stint with the global banks, Cates led risk, IT, operations, legal and compliance, human resources, strategy, corporate affairs, brand, and marketing functions across 60 countries.

She is also a non-executive director at Brewin Dolphin Holdings plc, United Utilities Group plc, Threadneedle Investment Services, Threadneedle Pensions and Threadneedle Asset Management Holdings Sàrl.

Cates’ remit is global, and her role will cover both the Tullett Prebon and ICAP brands

Commenting on Cates’ appointment, Richard Berliand, Chairman of TP ICAP plc, said: “We are delighted to welcome Kath to the Board of the Company. She brings extensive broad-based experience from a career working in a regulated environment in financial services both in the UK and abroad.  This, combined with significant experience from her non-executive directorship roles, will enable her to make a strong contribution to our Board.”

TP ICAP, which earns its bread from making markets in different asset classes, employs thousands of brokers that negotiate trades in markets such as FX and commodities.

In 2019, it signed a multi-year deal with Refinitiv to expand its integrated global data across equities, fixed income, FX, derivatives, and commodities.

TP ICAP was established three years ago following Tullett Prebon’s acquisition of the voice-broking business from its former rival interdealer broker ICAP. TP ICAP’s data and analytics division is a provider of real-time price information from the global OTC financial and commodity markets, covering data from the wholesale inter-dealer brokered financial markets.

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