IEX Promotes Sara Furber to CFO and Hires Dan Cummings to Lead Corporate Advisory
Strengthens the company’s organizational structure for its next phase of growth
IEX, a next-generation stock exchange, announces two leadership appointments to help drive its next phase of growth.
Sara Furber is promoted to Chief Financial Officer, which includes leadership of corporate development and IEX Ventures. Before joining IEX in 2016, Ms. Furber held numerous senior roles over her 20-year career in investment banking and finance, including serving as the Chief Operating Officer of Wealth Management at Morgan Stanley.
“With our core equities business continuing to gain strength, IEX is in a unique position to focus on our next phase of growth, opportunistically diversifying our business while continuing to drive our mission of building fairer markets,” said Brad Katsuyama, co-founder and CEO of IEX. “Sara has been a critical player in shaping IEX’s long-term strategy and is the right leader to run these forward-looking business functions.”
“IEX’s brand and technology enable us to strategically diversify into areas that complement our core business. Our incubation of Tradewind and our collaboration with LTSE are good examples of the range of opportunities we will continue to pursue,” said Ms. Furber.
To increase IEX’s focus on serving the needs of public companies, IEX hired Dan Cummings as Head of Corporate Advisory, which includes overseeing IEX’s listings business. Previously Executive Vice Chairman at Bank of America Merrill Lynch, Mr. Cummings will use his deep global capital markets expertise, including leading over 400 book-run deals and 100 IPOs, to drive and build key corporate relationships. Mr. Cummings will report to IEX co-founder and President, Ronan Ryan.
IEX will bring all client-facing businesses, including the equities exchange and Corporate Advisory, under Mr. Ryan’s leadership. In his expanded role, Mr. Ryan will continue to develop corporate, buyside and sellside relationships, and drive innovation in trading. These changes strengthen the business’ focus on serving current and new clients’ needs.
“We’ve already made a major impact in equities, from leveling the playing field for investors to pioneering machine learning in exchange technology and advocating for market structure improvements. This progress has been fueled by the addition of experts from different segments of the market to our team,” said Mr. Ryan. “As a proven leader in equities, Dan further strengthens our capabilities at IEX and allows us to invest in serving corporates, which, like investors, have been underserved in this market.”
“I am thrilled to join IEX, an innovative company that is a significant change agent in financial markets. I was drawn to their creativity, passion and drive – this is a team that has integrity and is on a mission” said Mr. Cummings. “I look forward to helping accelerate their path to even greater success.”
Mr. Ryan and Ms. Furber will continue to report to Mr. Katsuyama.
IEX is on a mission to build fairer markets. Founded in 2012 and headquartered in New York City, IEX introduced its first trading venue in 2013 and launched as a U.S. stock exchange in 2016. IEX is the stock exchange that believes that exchanges should put the interests of companies and long-term investors front and center. As the only independent U.S. stock exchange seeded by the buyside, IEX uses technology to protect investors and is the only exchange operating without the conflicts of rebates and co-location revenue. Learn more at: iextrading.com