Richard Mitchell McVey (born January 2, 1959 in Painesville, Ohio), known as Rick, is an American entrepreneur who serves as chairman and chief executive officer of MarketAxess, which operates an electronic trading platform for corporate bonds and other

fixed-income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the pri ...

products. McVey has led MarketAxess since he founded the company in April 2000.

Early life and education

McVey grew up in a suburb of

Cleveland Cleveland ( ), officially the City of Cleveland, is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located in the northeastern part of the state, it is situated along the southern shore of Lake Erie, across the U.S. ...

, where his father ran an oil company and was an active stock investor. McVey attended Miami University (Ohio), where he received a B.A. degree in finance, and then received an MBA from the Kelley School of Business

Indiana University Indiana University (IU) is a system of public universities in the U.S. state of Indiana. Campuses Indiana University has two core campuses, five regional campuses, and two regional centers under the administration of IUPUI. *Indiana Universit ...

in 1983.

Career

In 1991, McVey was hired by JP Morgan, and ran the North America Futures and Options Business, including institutional brokerage, research, operations, finance and compliance. There he rose to become a managing director. In 1995, McVey relocated to

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

and moved into fixed income, to run JP Morgan's North American Fixed Income Sales, managing the institutional distribution of fixed-income securities to investors until 2000. McVey founded MarketAxess in April 2000 and has since served as chairman and chief executive officer. He originally proposed the business model for MarketAxess in 1999 as part of J.P. Morgan's Lab Morgan program, which was designed to back executives’ ideas for using web-based technology. He launched the company as an independent venture in 2000, after leading an initial funding round which raised $24 million in capital from JP Morgan and other market participants including

Bear Stearns The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase. The compa ...

. In November 2004 he led the company's

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

Personal life

On September 1, 2018, McVey married Lara Spencer, co-anchor for ''

Good Morning America ''Good Morning America'' (often abbreviated as ''GMA'') is an American morning television program that is broadcast on ABC. It debuted on November 3, 1975, and first expanded to weekends with the debut of a Sunday edition on January 3, 1993. Th ...

'', in Vail, Colorado. They had previously announced their engagement in January 2018. McVey has three daughters from a previous marriage. In 2020, he donated $20 million to Miami University for the construction of a

data science Data science is an interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract or extrapolate knowledge and insights from noisy, structured and unstructured data, and apply knowledge from data across a br ...

building named after him, expected to be completed in January 2024.

References

{{DEFAULTSORT:McVey, Richard Living people 1959 births