NEW YORK, Oct. 25, 2018 /PRNewswire/ -- BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC Partners" or "BGC"), a leading global
brokerage and financial technology company, today announced changes
and additions to its finance team.
Steven R. McMurray has informed
the Company's Board of Directors (the "Board") of his intention to
resign as Chief Financial Officer ("CFO"), effective as of
December 15, 2018. Mr. McMurray will
remain in his current role until this date in order to help oversee
the planned spin-off1 of Newmark from BGC in addition to
his ordinary duties. Mr. McMurray is stepping down for personal and
family reasons, and is not pursuing another position at this
time.
The Board has appointed Sean A.
Windeatt, who is currently BGC's Chief Operating Officer
("COO") and Executive Vice President, as Interim CFO, effective
December 16, 2018. Mr. Windeatt will
serve as Interim CFO in addition to his current duties until a
permanent replacement is named. Mr. Windeatt has been BGC's COO
since January 2009. Prior to this
role, Mr. Windeatt was Executive Managing Director and Vice
President of BGC Partners from 2007 until 2009. Mr. Windeatt has
also served in various other roles for the Company since 1997,
including business management and as a member of the finance
department.
Management Commentary
Howard
W. Lutnick, Chairman and Chief Executive Officer of BGC,
said: "We want to thank Steve for his contributions to BGC. During
his tenure, Steve was deeply involved in the initial public
offering of Newmark, two of our bond offerings, two syndicated bank
loans, and several of our acquisitions, including those of Berkeley
Point, Sunrise, and Besso. We wish him the best in his future
endeavors."
Shaun D. Lynn, President of BGC,
commented: "Sean has been instrumental in BGC nearly quadrupling
its annual Financial Services revenues since the formation of BGC
in 2004.2 He helped us successfully execute over 20
acquisitions, including that of GFI Group Inc. We expect his deep
knowledge of the Company and overall industry will continue to be
an asset in this role."
Other Additions to Management Team
The Company has
also recently bolstered its finance leadership team with two key
additions.
BGC's board of Directors has appointed Sean P. Galvin to the newly created role of
BGC's Chief Accounting Officer ("CAO"). Mr. Galvin has over 30
years of experience in finance, tax, and accounting. From 2000
through 2018, Mr. Galvin held a number of positions at Virtu
Financial, Inc. and its predecessor firms KCG Holdings, Inc. and
Knight Capital Group, Inc. These positions included CAO, Group
Controller, and Tax Director. Mr. Galvin has also held positions at
Donaldson, Lufkin & Jenrette, Inc., and Price Waterhouse LLP,
where he began his career. Mr. Galvin earned a Master of Science in
Taxation from Fordham University as
well as a Bachelor of Science in Accounting and Information Systems
with a minor in Economics from Queens College,
CUNY. Mr. Galvin is a Certified Public Accountant.
Kalyan C. Popuri has recently
joined as Global Treasurer for BGC and its affiliates. Mr. Popuri
has 22 years of experience, primarily focused on corporate
treasury, institutional banking and capital markets areas across
North America and Asia. Mr. Popuri most recently worked for
JPMorgan Chase & Co., where he was responsible for
enterprise-wide liquidity policy and regulatory matters. Prior to
this, Mr. Popuri held various roles at GE Capital and Bank of
America Merrill Lynch where he began his career in banking. Mr.
Popuri holds a Master of Business Administration from the Indian
Institute of Management, Kozhikode, a Bachelor Degree in Law from
Nagarjuna University, and a Bachelor Degree in Financial
Accounting, from Osmania University.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage and financial technology company. BGC offers Real
Estate Services through its publicly traded subsidiary Newmark
Group, Inc. BGC owns GFI Group Inc., a leading intermediary and
provider of trading technologies and support services to the global
OTC and listed markets. BGC's Financial Services offerings include
fixed income securities, interest rate swaps, foreign exchange,
equities, equity derivatives, credit derivatives, commodities,
futures, and structured products. BGC provides a wide range of
services, including trade execution, broker-dealer services,
clearing, trade compression, post trade, information, and other
services to a broad range of financial and non-financial
institutions. Through brands including Fenics, BGC Trader,
Capitalab, Lucera, and Fenics Market Data, BGC offers financial
technology solutions, market data, and analytics related to
numerous financial instruments and markets. BGC, BGC Trader, GFI,
Fenics, Fenics Market Data, Capitalab, and Lucera are
trademarks/service marks and/or registered trademarks/service marks
of BGC Partners, Inc. and/or its affiliates.
BGC's customers include many of the world's largest banks,
broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, and investment firms. BGC's common stock
trades on the NASDAQ Global Select Market under the ticker symbol
(NASDAQ: BGCP). BGC Partners is led by Chairman and Chief Executive
Officer Howard W. Lutnick. For more
information, please visit http://www.bgcpartners.com. You can also
follow BGC at https://twitter.com/bgcpartners,
https://www.linkedin.com/company/bgc-partners and/or
http://ir.bgcpartners.com/Investors/default.aspx.
About Newmark Group, Inc.
Newmark Group, Inc.
("Newmark Group") is a publicly traded company which, through
subsidiaries, operates as a full-service commercial real estate
services business with a complete suite of services and products
for both owners and occupiers across the entire commercial real
estate industry. Under the Newmark Knight Frank name, the
investor/owner services and products of Newmark Group's
subsidiaries include capital markets (including investment sales),
agency leasing, property management, valuation and advisory,
diligence and underwriting. The company's subsidiaries also offer
government sponsored enterprise lending, loan servicing, debt and
structured finance, and loan sales. Newmark Group's occupier
services and products include tenant representation, global
corporate services, real estate management technology systems,
workplace and occupancy strategy, consulting, project management,
lease administration and facilities management. Newmark Group
enhances these services and products through innovative real estate
technology solutions and data analytics designed to enable its
clients to increase their efficiency and profits by optimizing
their real estate portfolio.
Newmark Group has relationships with many of the world's largest
commercial property owners, real estate developers and investors,
as well as Fortune 500 and Forbes Global 2000 companies. Newmark
Group, which is listed on the NASDAQ Global Select Market under the
symbol "NMRK", is a publicly traded subsidiary of BGC Partners,
Inc. ("BGC"), a leading global brokerage and financial technology
company. BGC's Class A common stock trades on the NASDAQ Global
Select Market under the ticker symbol "BGCP". Newmark is a
trademarks/service marks and/or registered trademarks/service marks
of Newmark Group, Inc. and/or its affiliates. Knight Frank is a
service mark of Knight Frank (Nominees) Limited. Find out more
about Newmark at http://www.ngkf.com/,
https://twitter.com/newmarkkf,
https://www.linkedin.com/company/newmark-knight-frank/, and/or
http://ir.ngkf.com/investors/investors-home/default.aspx.
Discussion of Forward-Looking Statements about BGC and
Newmark
Statements in this document regarding BGC and
Newmark that are not historical facts are "forward-looking
statements" that involve risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements. Except as required by law, BGC and
Newmark undertake no obligation to update any forward-looking
statements. For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see BGC's and Newmark's Securities
and Exchange Commission filings, including, but not limited to, the
risk factors set forth in these filings and any updates to such
risk factors contained in subsequent Forms 10-K, Forms 10-Q or
Forms 8-K.
Media Contact:
Karen
Laureano-Rikardsen
+1 212-829-4975
Investor Contacts:
Jason
McGruder or Ujjal Basu
Roy
+1 212-610-2426
1 BGC's publicly traded and majority-owned
subsidiary, Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark")
completed its initial public offering ("IPO") on December 19, 2017. See the sections of BGC's most
recent financial results press release titled "Proposed Spin-Off of
Newmark" for more information.
2 Based on the revenues of BGC's Financial Services
segment for the trailing twelve months ended September 30, 2018 versus those recorded by the
consolidated Company in 2004.
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