Banking executive from UBS secures position at BTIG
In a significant move for the outsourced trading industry, Ian Power, a seasoned industry veteran with over 25 years of experience, has joined BTIG in a senior role. Power previously held the position of UK head of multi-asset trading at UBS, but left the company when UBS exited the outsourced trading business in March.
Before his tenure at UBS, Power was the head of trading at Standard Life Investments (now Aberdeen). He also has a background as a global multi-asset and derivatives trader at Newton Investment Management.
The departure of Power from UBS marked a change in leadership for EMEA outsourced trading. The director of the outsourced trading hub at UBS, whose specific role at the company is not explicitly mentioned in the provided search results, left the company in May to join Clear Street.
Clear Street, a company that recently launched a new outsourced trading platform in May, has entered the outsourced trading market with this strategic hire. The ex-UBS director is now leading Clear Street's outsourced trading platform.
BTIG reported a gross profit of 13,830,642 in 2024, which represents a 5% year-on-year decrease. Despite this, the addition of Power to its team is seen as a positive move for the company, as he brings a wealth of experience and expertise in the field of outsourced trading.
The specific role that Power has taken at BTIG is not specified in the article, but it is clear that he will be playing a key role in the company's outsourced trading operations. Prior to his role at BTIG, Power served as head of client derivatives trading at Ignis Asset Management.
The move by UBS to exit the outsourced trading business has created an opportunity for Clear Street to enter the market. With the addition of the experienced Power to its team and the launch of its new outsourced trading platform, Clear Street is well-positioned to make a significant impact in the industry.
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