NEX Group, formerly known as ICAP, is relocating its New York and London offices as CEO Michael Spencer takes the recently streamlined financial technology company into its next era.
NEX will relocate to offices at 4 Times Square, formerly known as the Condé Nast Building, at end-April, according to an emailed statement on April 19. The move will bring all of its New York business under the same roof for the first time.
In London, the company is in “advanced negotiations” to lease space at the London Fruit and Wool Exchange. The move is planned to take place in early 2019.
NEX was created from Tullett Prebon’s purchase of ICAP’s voice-broker business last year. ICAP sold its name to Tullett, now known as TP ICAP, as part of the deal and became NEX.
NEX, which focuses on electronic markets and post-trade services, has operated in London’s Broadgate area for 13 years.
“NEX is a financial technology business so we are really excited to be moving closer to a technology and commercial hub which aligns more closely with the brand,” Jenny Knott, CEO of NEX Optimisation, said in the statement.