Thursday, BGC Partners, Inc.(BGCP), an inter-dealer broker, announced the appointment of Graham Sadler as its Chief Financial Officer, with immediate effect. Sadler, based in BGC's London office, replaces Robert West, who has served as CFO since May 2007.
As Chief Financial Officer, Sadler will be responsible for BGC's global accounting, controlling and treasury functions, including all financial reporting and budgeting. Since December 2008, Sadler served as CFO for Europe and Asia for both BGC and Cantor Fitzgerald. He will spend at least 75% of his time now as CFO of BGC and will also continue to serve as CFO for Europe and Asia for Cantor Fitzgerald.
Prior to his association with BGC, Sadler spent 11 years with Bear Stearns, where his most recent assignment was that of Chief Operating Officer and Chief Financial Officer of Bear Stearns-Europe in addition to other management roles.
Howard Lutnick, Chairman and Chief Executive Officer said, "The CFO role at BGC had, until recently, been located in London, along with that of the company's President, Chief Operating Officer and other senior management, and we are delighted that a financial professional of Graham's caliber will be serving as our CFO."
BGCP is currently trading at $2.47, up $0.29 or 13.30%, on a volume of 0.15 million shares on the Nasdaq.
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