Roberto Hoornweg
MARKETAXESS HOLDINGSAbout Roberto Hoornweg
Roberto Hoornweg (age 57) was appointed to the MarketAxess (MKTX) Board in March 2025 as an independent director; he serves on the Finance and Risk Committees. He is Co‑Head, Corporate & Investment Banking at Standard Chartered (appointed April 2024), and previously served as Global Head of Financial Markets (since January 2017); earlier roles include Partner at Brevan Howard, senior leadership at UBS Investment Bank, and a 17‑year career at Morgan Stanley; he holds a B.S. in Economics from MIT. His biography emphasizes global financial markets expertise, fixed‑income knowledge, and leadership across major financial institutions .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Standard Chartered | Co‑Head, Corporate & Investment Banking (Europe, Americas, Middle East & Africa); member of Group Management Team | Apr 2024 – present | Oversight across regions; senior leadership on the Group Management Team |
| Standard Chartered | Global Head of Financial Markets | Jan 2017 – Apr 2024 | Led FX, rates, commodities, financing, securities services, and integrated primary/secondary credit solutions; oversaw Research and RM&A groups |
| Brevan Howard Asset Management | Partner; led liquid portfolio strategies funds business | Nov 2014 – Dec 2017 | Senior leadership in liquid strategies |
| UBS Investment Bank (London) | Led global Securities Distribution; Co‑headed global FICC | ~3 years (prior to Brevan Howard) | Global distribution leadership; FICC co‑lead |
| Morgan Stanley | Senior roles in fixed‑income derivatives; led global EM fixed income & FX; head of global interest rates, credit, currencies | 17‑year career | Global product leadership in rates, credit, currencies and EM |
External Roles
| Organization | Role | Type | Notes |
|---|---|---|---|
| Standard Chartered | Co‑Head, Corporate & Investment Banking | Employer | Executive role; potential commercial interactions with MKTX via client agreements (see “Other transactions”) |
| Brevan Howard | Partner (former) | Prior employer | No current board interlocks disclosed |
| UBS Investment Bank | Senior leadership (former) | Prior employer | No current board interlocks disclosed |
| Morgan Stanley | Senior leadership (former) | Prior employer | No current board interlocks disclosed |
| Public company directorships | MarketAxess (NASDAQ: MKTX) | Current board | No other public company boards disclosed |
Board Governance
- Independence: The Board determined all non‑employee directors, including Mr. Hoornweg, meet NASDAQ and SEC independence standards; none has relationships that impair independent judgment .
- Committee assignments: Finance Committee member; Risk Committee member. He does not hold chair roles .
- Board structure: Independent Chairman; separate CEO and Chair roles; Board ~91% independent; all committees chaired by independent directors .
- Attendance/engagement: In 2024, all directors (serving then) attended at least 75% of Board and committee meetings; non‑management directors held executive sessions at each Board meeting. 2024 meeting counts: Board (7), Audit (5), Compensation & Talent (5), Finance (6), Nominating & Governance (4), Risk (5); Audit/Risk held one joint meeting .
| Governance Attribute | Detail |
|---|---|
| Independence | Independent non‑employee director |
| Committees | Finance (member); Risk (member) |
| Chair roles | None disclosed |
| 2024 attendance standard | ≥75% for all directors serving in 2024; executive sessions at each Board meeting |
| Board/committee meetings (2024) | Board 7; Audit 5; Compensation 5; Finance 6; Nominating & Governance 4; Risk 5; plus one Audit/Risk joint meeting |
Fixed Compensation
- Director compensation program (unchanged vs prior year): Board cash retainer $85,000; equity retainer $160,000; Chairman fee $150,000 (elected form); former Lead Independent Director fee $50,000 (elected form); committee fees—Audit/Risk: Chair $25,000 / Member $12,500; other committees: Chair $20,000 / Member $10,000. Chairs do not receive membership fees .
- June 2024 equity grants: 781 restricted stock/RSUs to non‑employee directors; Lead Independent Director received 122 additional RSUs; Mr. Hoornweg joined in March 2025 and did not receive the June 2024 grant .
| Component | Amount | Notes |
|---|---|---|
| Board Member Cash Retainer | $85,000 | Annual cash |
| Board Member Equity Retainer | $160,000 | Annual equity (restricted stock/RSUs) |
| Finance Committee Fee (Member) | $10,000 | Applicable to Mr. Hoornweg’s Finance membership |
| Risk Committee Fee (Member) | $12,500 | Applicable to Mr. Hoornweg’s Risk membership |
| Program change vs prior year | None | Program unchanged in 2024 |
| June 2024 Director Grants | 781 shares/RSUs | Granted to non‑employee directors; Mr. Hoornweg not included (joined Mar 2025) |
Performance Compensation
- No performance‑based elements are disclosed for non‑employee director pay; director equity grants are time‑based restricted stock/RSUs under the 2020 Equity Incentive Plan (no options outstanding at FY‑end 2024 for directors) .
Other Directorships & Interlocks
- Current public company boards: MarketAxess only .
- Commercial agreements: Entities where certain directors are employees/officers (e.g., major financial institutions) have ordinary‑course user/dealer/data agreements with MKTX; Audit Committee reviews and approves these annually; these are not “related party transactions” under SEC rules .
- Related party transactions: None exceeding $120,000 involving any related party since January 1, 2024 .
Expertise & Qualifications
- Global fixed‑income markets and electronic trading leadership across Standard Chartered, UBS, Morgan Stanley; analytics and resource management oversight in financial markets .
- Brings “global financial markets expertise, fixed income knowledge and leadership experience from a number of financial institutions” to MKTX Board .
Equity Ownership
- Beneficial Ownership: 215 shares (all unvested restricted stock awards vesting within 60 days as of April 7, 2025); <1% of shares outstanding .
- Director stock ownership guidelines: Minimum value equal to 5× annual cash retainer ($425,000); calculated as 1,857 shares using $228.85 twelve‑month average; compliance required within five years; all non‑employee directors have achieved or are within the compliance period .
| Holder | Shares Beneficially Owned | % of Outstanding | Breakdown |
|---|---|---|---|
| Roberto Hoornweg | 215 | <1% | 215 unvested restricted stock awards vesting within 60 days |
Governance Assessment
-
Positive signals:
- Independent status; dual committee service (Finance, Risk) aligns with MKTX’s risk‑sensitive, capital‑allocation oversight needs .
- Strong technical market expertise (fixed income, trading, distribution) adds depth to Risk Committee oversight and Finance Committee strategy .
- Director pay structure balanced between cash retainer and time‑based equity; no perquisites or retirement benefits; program stability year‑over‑year .
- Robust director ownership guidelines (5× cash retainer) and prohibition on hedging/pledging enhance alignment and reduce risk .
- Audit Committee oversight of commercial agreements with directors’ employers mitigates interlock/conflict risk; no related‑party transactions reported .
-
Potential conflicts and RED FLAGS:
- Executive role at Standard Chartered alongside MKTX board seat implies potential commercial interactions via trading/data agreements; mitigated by annual Audit Committee review and classification as ordinary‑course (not related‑party) transactions .
- As a new director (appointed March 2025), ownership guideline compliance will be assessed within the five‑year period; current beneficial ownership is limited (215 unvested RSAs), though this is consistent with start‑of‑tenure status .
-
Shareholder sentiment context:
- 2024 Say‑on‑Pay support at ~94% and continued investor engagement indicate strong governance credibility; board refresh adding Hoornweg supports skills depth in fixed income/e‑trading .