Peter Bartko, the long-time chariman and CEO of electronic spot FX dealing system EBS, has decided to leave the company when his contract expires at the end of the year.
The EBS Board says it has begun the search for a new permanent chairman and chief executive. In the meantime, Jack Jeffery, currently the global head of FX options and regional senior, FX Europe, Citibank, will act as interim CEO.
In a statement, EBS says Bartko is quitting his post in order to "seek new challenges".
EBS was established in 1993 as a bank-backed rival to Reuters' electronic matching system, Dealing 2000-2. EBS now claims sixty per cent of the global interbank spot FX market.