Interdealer broker TP ICAP PLC (LON:TCAP) today announced a set of changes concerning the responsibilities of some of its Non-executive Directors.

Michael Heaney will assume the role of Senior Independent Director upon relinquishing his role as interim Chair of the Risk Committee.

Mr Heaney was appointed to the board of TP ICAP in January 2018. Prior to joining TP ICAP, he spent 28 years at Morgan Stanley, both in New York and London, where he served as Global Co-Head of the Fixed Income Sales and Trading Division. He was also a member of Morgan Stanley’s Operating, Management and Risk Management Committees.

Also today, TP ICAP announced that Edmund Ng will be appointed member of the Audit Committee and will step down as a member of the Risk Committee.

Edmund Ng was appointed to the Board of TP ICAP in November 2017. With over 20 years’ experience of the Asian capital markets, Edmund Ng has a deep understanding of and insight into one of TP ICAP’s key markets at Board level. In addition, his years of experience at the Hong Kong Monetary Authority bring an in-depth understanding of complex financial regulatory regimes to the Board.

Edmund Ng is currently Chief Investment Officer and co-founder of Eastfort Asset Management, which was established in mid-2015 with Brummer & Partners in Sweden. Prior to that he served as Head of the Direct Investment Division of Hong Kong Monetary Authority (HKMA) and Managing Director of Asia Ex-Japan trading within J.P. Morgan.

The changes are with effect from the conclusion of TP ICAP’s AGM set to be held in May 2021.