July 10 (Reuters) - ICAP said on Thursday that the second co-head of its flagship electronic foreign exchange trading platform, EBS Market, left the firm amid a shake-up of the business.
John Schoen, who had co-headed the division along with Nichola Hunter since March 2013, has left the unit, a spokesman for the company said.
EBS Market is an electronic trading platform that matches bank traders’ orders to buy and sell currencies.
Sources had told Reuters that the unit’s other co-head, Nichola Hunter, who was previously head of product management, left the company earlier this week.
EBS is one of the two dominant global currency trading platforms, along with Thomson Reuters.
The Wall Street Journal, which first reported Schoen’s departure, cited people close to the matter as saying EBS was in the process of shuffling executives and financial resources as it focuses on new products and ways to reach a broader array of customers. (Reporting by Esha Vaish in Bangalore; Editing by Dan Grebler)