Richard M. McVey
Born (1959-07-02) July 2, 1959
Painesville, Ohio
NationalityAmerican
Other namesRick
Alma materMiami University (Ohio); Kelley School of Business at Indiana University
Occupation(s)Chairman and Chief Executive Officer of MarketAxess
Board member ofMiami University (Ohio) Foundation Board of Directors; Colby College Board of Trustees
SpouseLara Spencer (m. 2018)
Children3 daughters

Richard Mitchell McVey[1] (born January 2, 1959, in Painesville, Ohio[2][3]), known as Rick, is an American entrepreneur who serves as 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]

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 has since served as 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]

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.
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