Cramp succeeds Rob Kitchin who has been employed with BGC for twenty years and is leaving to pursue interests outside the industry. Mr. Cramp will formally assume Mr. Kitchin's role on December 1, 2014.
"We are delighted to announce Phil's appointment. He is a well-respected and experienced leader who brings valued experience in credit and rates," commented Shaun D. Lynn, President of BGC Partners. "His strong track record of delivery and integrity is vital as we implement our aggressive plans. I look forward to working with him closely as we spearhead these growth initiatives."
"I am excited to join BGC, the positive and ambitious atmosphere across brokers and management alike is highly energizing," Cramp commented. "I look forward to working with BGC's management and brokers and to growing the Credit, Repo and EGBs businesses in alignment with the company's growth plans."
Cramp joins BGC with 30 years of financial markets experience. He was previously Head of Credit EMEA at ICAP, a position he held from 2012 to June 2014. Prior to this, Cramp was Managing Director of Euro Interest Rate Swaps at ICAP. Mr. Cramp began his career at Tullett and Tokyo, where he worked in the Financial Futures Division before moving to the Capital Markets Division.
Lynn continued: "Phil's strong credentials are especially important as we say farewell to Rob, an industry veteran who has excelled in his role here for 20 years, both as a top producing broker and member of the senior management team. We are sorry to see him go and hope to work with him on an ad hoc basis in the future. Meanwhile, we wish him all the best in his new endeavours."
Kitchin commented: "I have been part of BGC for two decades and have greatly enjoyed this experience. While I am excited to begin a new chapter of my life I will miss my colleagues and clients and wish them all the best."