BCS Global Markets, the Russian investment bank and largest securities broker on the Moscow exchange, has appointed Bradley Duke and Tim Bevan as co-chief executives of its UK entity, BCS Prime Brokerage (BCS UK).
BCS Global Markets recently adopted a matrix management structure to promote greater oversight and synergies across geographies and business lines.
The decision to appoint two chief executives for BCS UK comes as headcount at BCS UK has grown to over 170 since the beginning of 2017 – with the establishment of a branch in Moscow of the FCA regulated UK entity, that now encompasses the entire operations and business support functions of BCS Global Markets. The new structure addresses this change in order to ensure robust controls remain in place as the company expands.
Bevan was recently promoted to global head of prime brokerage, extending his remit to cover prime business in Russia and establishing the wealth management division within the investment bank, while Duke joined BCS last year as regional Head of UK, Europe and the US.
The co-CEO structure ensures an equitable spread of administrative responsibility recognising the growth in demands from the business lines as they expand throughout the regions where BCS operates.
Roman Lokhov (pictured), CEO, BCS Global Markets, says: “I believe that appointing Tim and Bradley as co-CEOs of BCS UK is the optimal solution for addressing both business and administrative demands. I have known Bradley and Tim for a long time and have worked with them in several organisations over the last 15 years. We share a unified vision and, at such an important stage of our company’s growth, two CEOs in the UK means the burden of major areas of responsibility can be shared allowing each greater flexibility to reflect, innovate and execute.”