OSTC chief Hodgkinson to leave as training arm spins off

The chief executive of OSTC Lee Hodgkinson has said he is stepping down from that role as the prop trading group spins off its training arm into a separate entity.

Hodgkinson, who has led OSTC for more than four years after joining from Euronext in 2018, said he will leave his post as group chief executive before the end of next week.

“After four fantastic years as CEO, I will be leaving OSTC at the end of this month,” Hodgkinson said on Tuesday. “I’m taking up a truly unique opportunity, and the next exciting chapter in my career begins shortly.”

Hodgkinson told Global Investor his departure is timed to coincide with a corporate restructuring that will see OSTC's fast-growing training arm ZISHI become independent from the group's traditional proprietary trading business. 

The firm has made in the past two years acquisitions to grow ZISHI Cornerstone, including FSTP in May 2021, BG Consulting in January 2021 and UK options training firm Volcube in late 2020.

OSTC Group chairman Jonny Aucamp said: “The time is right to separate our business activities into two-individual standalone companies so they can pursue their individual strategic priorities. Both businesses have significant standalone potential, and the separation will enable increased agility and greater operational focus.”

Under the new corporate structure, current vice chairman and former OSTC chief executive Mark Slade is stepping in to run the prop trading business while Chris Jenkins retains control of ZISHI.

Michael Shirley, currently head of trading, becomes deputy chief executive of OSTC Markets.

Hodgkinson said last year OSTC was looking at a stock market listing, possibly in the middle of this year or the start of next, after its initial plans were disrupted by the Covid pandemic.

He told Global Investor in May last year the firm planned to list on London’s AIM as early as this summer.

“Our anticipated IPO window opens at the end of summer 2022 and moves into spring 2023, but this will depend on prevailing market conditions, the continued successful execution of our strategy and a range of other factors such as whether the pandemic is truly in the rear-view mirror,” Hodgkinson said early last year.

Hodgkinson stepped down from his role as chief executive officer of Euronext London in early April 2018 to replace Mark Slade as head of OSTC.

Hodgkinson had been in his role as head of markets, global sales and chief executive of Euronext in London since December 2013. Prior to that, he was chief executive officer of SmartPool trading for over eight years. Earlier in his career, he held senior positions at NYSE Euronext and was chief executive officer of SIX Swiss Exchange's blue chip international equity business.