In a September 5 statement, Icap said Arjun Singh-Muchelle will start immediately as global head of regulatory affairs and will report to Don McClumpha, chief operating officer of the global broking division. An Icap spokesman said the role was a new one.
The appointment comes ahead of the completion of the sale of Icap’s global broking arm to Tullett Prebon. The move shows the importance firms are attaching to their preparations for the European Union’s Mifid II rules that promise to affect everything from bond trading to equities research.
Welcoming Singh-Muchelle to the role, McClumpha said the new arrival “brings significant policy and public affairs experience which will be invaluable to us in our approach to new regulations, such as Mifid II, and we look forward to working with him.”
A 2014 FN Rising Star in Trading & Technology, Singh-Muchelle’s move to Icap brings to an end a summer stint at the International Swaps and Derivatives Association, an influential trade body for the over-the-counter derivatives markets, where he had been part of the European public affairs team since June.
He was previously a senior capital markets adviser at the Investment Association, a trade body for UK asset managers, where he helped lead efforts to change Mifid II’s rules on market data. Before that, he was a policy analyst at the European Commission in Brussels and head of EU affairs at the British Bankers’ Association.
An Isda spokesman declined to comment.