Richard McVey

Last updated
Richard M. McVey
Born (1959-07-02) July 2, 1959 (age 64)
Painesville, Ohio, US
Alma mater Miami University (Ohio); Kelley School of Business at Indiana University
Occupation(s)Chairman and CEO of MarketAxess
Spouse Lara Spencer (m. 2018)
Children3

Richard Mitchell McVey [1] (born January 2, 1959, in Painesville, Ohio [2] [3] )is an American entrepreneur who is chairman and chief executive officer of MarketAxess, which operates an electronic trading platform for corporate bonds and other fixed-income products. [1] McVey has led MarketAxess since he founded the company in April 2000. [1]

Contents

Early life and education

McVey grew up in a suburb of Cleveland, where his father ran an oil company and was an active stock investor. [2]

McVey attended Miami University (Ohio) as a member of the Phi Gamma Delta Fraternity, where he received a B.A. degree in finance, [4] and then received an MBA from the Kelley School of Business Indiana University in 1983. [3]

Career

In 1991, McVey was hired by JP Morgan, and ran the North America Futures and Options Business, including institutional brokerage, research, operations, finance and compliance. [1] There he rose to become a managing director. [1] In 1995, McVey relocated to New York and moved into fixed income, to run JP Morgan's North American Fixed Income Sales, [3] managing the institutional distribution of fixed-income securities to investors until 2000. [5]

McVey along with Richard Schiffman, founded MarketAxess in April 2000 and is chairman and chief executive officer. [6] He originally proposed the business model for MarketAxess in 1999 as part of J.P. Morgan's Lab Morgan program, which was designed to back executives’ ideas for using web-based technology. He launched the company as an independent venture in 2000, after leading an initial funding round which raised $24 million in capital from JP Morgan and other market participants including Bear Stearns. [2] In November 2004 he led the company's initial public offering. [6]

Personal life

On September 1, 2018, McVey married Lara Spencer, co-anchor for Good Morning America , in Vail, Colorado. [7] They had previously announced their engagement in January 2018. McVey has three daughters from a previous marriage. [8]

In 2020, he donated $20 million to Miami University for the construction of a data science building named after him, expected to be completed in January 2024. [9]

In 2024, he donated $10 million to Colby College for the construction of a computational and data science building named after him. [10]

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References

  1. 1 2 3 4 5 "Company Overview of MarketAxess Corporation". Bloomberg. Bloomberg L.P. Retrieved 14 September 2018.
  2. 1 2 3 Tully, Shawn (2014-12-04). "The man behind the $7.7 trillion bond revolution" . Fortune . ISSN   2169-155X. Archived from the original on 2017-07-05. Retrieved 2023-12-05.
  3. 1 2 3 Agini, Samuel (3 April 2018). "MarketAxess CEO Rick McVey: Building an $8.5bn fintech juggernaut". Financial News . Retrieved 14 September 2018.
  4. ↑ "People: Marketaxess Holdings Inc (MKTX.OQ)". Reuters. Reuters. Archived from the original on September 17, 2018. Retrieved 14 September 2018.
  5. ↑ "Executive profile of Rick McVey". Bloomberg. Bloomberg L.P. Retrieved 14 September 2018.
  6. 1 2 "Management". MarketAxess. MarketAxess. Retrieved 14 September 2018.
  7. ↑ Strohm, Emily; Quinn, Dave (1 September 2018). "Lara Spencer Is Married! Good Morning America Co-Host Ties the Knot in Vail — See Her Dress!". People. Retrieved 14 September 2018.
  8. ↑ Cagle, Jess; Stone, Natalie (5 January 2018). "Good Morning America's Lara Spencer Is Engaged to Tech Entrepreneur Rick McVey". People. Retrieved 14 September 2018.
  9. ↑ Mitchell, Madeline (25 October 2021). "Miami alumnus Richard McVey donates $20 million for new data science building". Cincinnati Enquirer. Retrieved 25 October 2021.
  10. ↑ Sopko, George (16 May 2024). "Colby Receives Major Gift to Establish the McVey Center for Computational and Data Sciences". Colby College. Retrieved 16 May 2024.
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