Scott Ganeles
Tradeweb MarketsAbout Scott Ganeles
Scott Ganeles (age 61) has served on Tradeweb’s Board since March 2019 and is currently a Class I director whose term expires at the 2026 annual meeting. He is independent under Nasdaq and SEC rules and serves on the Compensation Committee. He is CEO of iAltA (since July 2024), formerly a Senior Partner at WestCap (2019–2024), and previously CEO of Ipreo (2006–2018) following the merger of i-Deal and Hemscott; he holds a B.A. in Political Science from Brown University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| i-Deal | Chief Executive Officer | Dec 2000–2006 | Led merger with Hemscott to form Ipreo |
| Hemscott → Ipreo Holdings LLC | Chief Executive Officer | 2006–Aug 2018 | Ran global fintech data/services platform |
| Carson Group | President & Co-Founder | Jun 1990–Sep 2000 | Built financial data and analytics business |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| iAltA | Chief Executive Officer | Jul 2024–present | Financial technology services provider |
| WestCap Group, LLC | Senior Partner | Apr 2019–Jul 2024 | Growth equity firm investing in fintech/marketplaces |
Board Governance
- Committee assignments: Compensation Committee member; not a chair .
- Independence: Board affirmed Ganeles is independent under Nasdaq and SEC rules; Tradeweb is a “controlled company” (LSEG/Refinitiv controls ~89.8% voting power) but does not rely on controlled-company exemptions; all committees are fully independent with independent Chairs .
- Board/committee activity: Board met 5 times in 2024; each incumbent director attended at least 75% of combined Board and committee meetings. Committee meetings held in 2024: Audit & Risk (8), Compensation (6), Nominating & Corporate Governance (3) .
- Compensation Committee scope: Oversees executive and director compensation, human capital strategy, approves equity plans/awards, employment agreements; 6 meetings in 2024; ClearBridge Compensation Group engaged as independent consultant with no conflicts .
Fixed Compensation
| Item | Value/Detail | Source |
|---|---|---|
| 2024 annual cash retainer (non-employee directors) | $100,000 | |
| 2024 committee member retainers | Audit & Risk: $15,000; Compensation: $12,500; Nominating & Corporate Governance: $10,000 | |
| 2024 committee chair retainers | Board Chair: $50,000; Audit & Risk Chair: $30,000; Compensation Chair: $25,000; Nominating Chair: $20,000 | |
| Lead Independent Director cash retainer | $30,000 | |
| 2024 director RSU annual grant value (standard) | $150,000 (1-year vest) | |
| 2024 Ganeles—Fees Earned (Cash) | $127,500 | |
| 2024 Ganeles—Stock Awards (grant-date fair value) | $149,922 | |
| 2024 Ganeles—Total | $277,422 | |
| RSUs granted to Ganeles in 2024 cycle | 1,323 RSUs; vest 05/10/2025 | |
| 2025 policy changes (effective March 2025) | Annual equity grant increased to $185,000; Audit Chair cash to $35,000; Nominating Chair cash to $25,000; Board Chair mix shifted to $85,000 cash + $115,000 equity |
Performance Compensation
- Director equity is time-based RSUs (no performance metrics), vesting on the one-year anniversary of grant; dividend equivalents accrue and are paid only upon vesting .
- As a Compensation Committee member, Ganeles oversees executive pay metrics. Key performance frameworks in 2024 included:
| Incentive Metric | Threshold | Target | Maximum | Payout Scaling | Source |
|---|---|---|---|---|---|
| CEO Annual Bonus—Constant Currency Revenue Growth (50% weight) | 3.0% | 11.2% | 12.2% | 0%–75% of target half; straight-line | |
| CEO Annual Bonus—Constant Currency Adjusted EBITDA Margin (50% weight) | 49.4% | 52.9% | 53.2% | 0%–75% of target half; straight-line | |
| PSUs—3-yr Absolute TSR | <15% | 30% | ≥50% | 0%–250% of target; straight-line | |
| PRSUs—3-yr CAGR metrics | Constant currency revenue growth and Adjusted EBITDA growth (0%–250% modifier; 3-year period) | Targets established by committee | N/A | Modifier applies at settlement |
Other Directorships & Interlocks
| Category | Detail | Source |
|---|---|---|
| Current public company boards | None | |
| Compensation committee interlocks | None reported for Tradeweb’s compensation committee |
Expertise & Qualifications
- Extensive fintech leadership, M&A execution, and market infrastructure experience; past CEO roles (Ipreo; i-Deal) and founder/operator (Carson Group) .
- Board-specified skills include capital markets/fixed income, electronic trading, corporate governance, risk/IT systems, M&A; Board skill-matrix denotes coverage across these domains .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | Notes | Source |
|---|---|---|---|
| Scott Ganeles | 12,414 | Includes 1,323 RSUs vesting within 60 days of 03/14/2025 | |
| All directors (11) as a group | 0.1% of Class A on fully exchanged/converted basis (380,685 shares; includes vested/unvested RSUs/options per footnotes) | As of 03/14/2025 |
- Stock ownership guidelines (adopted Dec 2024): Non-employee directors must hold 5x annual cash retainer in Class A value; compliance required by Dec 2029; RSUs count (vested and unvested), PRSUs/PSUs count only when vested; options do not count .
- Hedging/pledging: Prohibited for directors and covered persons under the Securities Trading Policy (shorting, derivatives, margining/pledging without pre-clearance barred) .
Governance Assessment
- Strengths: Independent status; active Compensation Committee participation; robust clawback policy aligned with SEC Rule 10D-1; director stock ownership guidelines; no committee interlocks; Board maintains majority independence and independent Chairs despite controlled-company status; strong pay-for-performance architecture overseen by his committee .
- Potential risks/RED FLAGS: Controlled-company structure (LSEG/Refinitiv controls ~89.8% combined voting power), though Tradeweb states it does not rely on governance exemptions; no director-specific related-party transactions, hedging/pledging, or attendance shortfalls disclosed for Ganeles; individual attendance percentages not provided beyond ≥75% threshold for incumbents .
- Alignment signals: Meaningful director equity grants with one-year vest; RSUs for Ganeles (1,323) plus beneficial holdings (12,414 shares) support “skin-in-the-game”; guidelines target 5x retainer by 2029 .