Kevin Foley, chief executive officer of Bloomberg TradeBook LLC, was named president of eSpeed, a developer of electronic marketplaces and trading technology. Foley resigned his position as chief executive officer of Bloomberg Tradebook last Friday, according to an eSpeed executive, who requested anonymity. Kevin Foley was unavailable for comment, according to an eSpeed spokeswoman.
In his new role, Foley will spearhead the creation and expansion of new electronic marketplaces and products, such as eSpeed's foreign exchange offering, equities order-routing and mortgage-backed securities platforms. In addition, Foley will focus on increasing adoption and use of eSpeed's existing proprietary products in U.S. global fixed-income markets and software, such as price improvement, the executive said.
Foley will start his new job at eSpeed officially on Tuesday, May 4, working with Howard W. Lutnick, chairman and CEO of eSpeed and Lee Amaitis, who has been promoted to vice chairman of eSpeed, according to an eSpeed release. Amaitis, who is based in London and has served as eSpeed's chief operating officer. Amaitis will join the office of the chairman and work alongside Lutnick.
At Bloomberg, Foley was CEO of Bloomberg Tradebook LLC, a global- institutional electronic-brokerage he founded in 1995. He oversaw development, sales and marketing of multiple products on the Bloomberg Tradebook platform. Alongside his executive responsibilities for Tradebook, Foley also served as global head of electronic trading and as global head of foreign exchange for Bloomberg, where he was responsible for electronic-trading applications for equities, fixed income, energy and foreign-exchange markets.
Foley began his career with Bloomberg in 1990 as a fixed-income-product specialist. Prior to that, he was a U.S. government bond trader for Drexel Burnham Lambert.