CreditTrade Appoints Ex-JP Morgan Head as Deputy Chairman.Business Editors LONDON--(BUSINESS WIRE)--Dec. 14, 2000 CreditTrade announced today that it has appointed Adam Wethered as deputy chairman. In this role he will focus on strategic planning for the world's most liquid credit trading exchange as it develops in the future. Wethered, aged 47, has spent most of his business career in a wide range of senior positions with global bank, JP Morgan. Latterly he was head of private banking and institutional clients for Europe, the Middle East and Africa Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes. It is particularly common amongst North American based companies, who often divide their international operations into the at JP Morgan Asset Management Services. Previously, Wethered was chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for JP Morgan Europe where he oversaw a major restructuring of the business. As former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of JP Morgan Securities Ltd his experience also encompasses leading roles in the firm's credit, corporate finance, strategic planning and specialised financing activities. In addition, he was a board member of the Securities and Futures Authority from 1991 until 1993. Paul Ellis, CreditTrade's chief executive officer, says: "Adam brings a wealth of hands-on experience in shaping and developing leading financial businesses on a global scale. He is also well acquainted with existing and potential participants in our marketplace. His wide-ranging knowledge complements the board's existing expertise in credit trading, technology and e-business. Adam's expertise will be invaluable in helping us to shape CreditTrade's activities and consolidate its position as the leading credit trading exchange." Wethered comments: "CreditTrade's business model has enabled it to generate substantial liquidity and establish itself as a leader in the credit trading markets. I welcome the opportunity to drive the business forward, building on CreditTrade's hybrid approach which combines voice assisted and electronic trading to best advantage." Notes to editors: CreditTrade is the world's first and most liquid credit trading exchange through which wholesale counterparties can trade non-commoditised credit products. Its main customers include the credit trading arms of investment and commercial banks, insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. companies. Credit products traded on the exchange include credit derivatives, loans and asset swaps. CreditTrade provides participants with a price discovery platform for credit products using a combination of electronic and voice assistance. It also offers access to easily navigable NAVIGABLE. Capable of being navigated. 2. In law, the term navigable is applied to the sea, to arms of the sea, and to rivers in which the tide flows and reflows. 5 Taunt. R. 705; S. C. Eng. Com. Law Rep. 240; 5 Pick. R. 199; Ang. Tide Wat. 62; 1 Bouv. Inst. n. real-time and historical databases, credit information and trading functionality. CreditTrade has operations in London, Singapore and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Major stakeholders include The Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. , Internet Capital Group, Prebon Yamane and Sculley Brothers. CreditTrade is operated by Mutant Technology Limited, which is regulated by the SFA See sales force automation. SFA - Sales Force Automation . For more information, please visit www.credittrade.com |
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