Richard M. McVey has been leading MarketAxess Holdings Inc. since its early days in 2000. With degrees from the University of Pennsylvania and a prestigious MBA from Wharton, he has built a career in finance that's seen him navigate the...

Richard M. McVey has been leading MarketAxess Holdings Inc. since its early days in 2000. With degrees from the University of Pennsylvania and a prestigious MBA from Wharton, he has built a career in finance that's seen him navigate the complexities of the trading world. Under his leadership, the company’s stock value has experienced substantial ups and downs; for instance, it peaked at around $522 million in July 2020, showcasing his impact on MarketAxess's growth. McVey's compensation reflects his hands-on approach: in 2023, he earned a total of $5.35 million, with a significant part coming from performance-based incentives, demonstrating his dedication to aligning personal success with company performance. Notably, he's secured a vested stock deal worth over $890,000 and is set to receive hefty retention options valued at $5.5 million, making it clear he's committed to staying the course. Interestingly, his agreements with the company extend through January 2025, ensuring he will remain at the helm during critical growth phases. McVey has shaped MarketAxess into a key player in the trading industry, proving that smart leadership and strategic compensation can go hand in hand.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other MarketAxess CEOs

M

Richard M. McVey

Founder and CEO of MarketAxess

Education

Bachelor's degree from the University of Pennsylvania and an MBA from the Wharton School

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

CEO of MarketAxess for

25 years 1 month (Mar 2000 - Present)

Previous Experience

Founder of MarketAxess Holdings Inc.

Rivals

Competitors/colleagues of Richard M. McVey

C

Brian Armstrong

Founder and CEO of Coinbase Global, Inc.

2023 Compensation

Stock

$0.00

Salary

$1.00M

Bonus

$0.00

Other

$3.70M

Total Holdings

$8.55B

Holdings

See how much did Richard M. McVey make over time.

Richard M. McVey's holdings in MarketAxess have seen notable fluctuations. In September 2019, his holdings were valued at approximately $345 million, steadily rising to about $522 million by July 2020—a peak that represents 80% of the company’s stock value at...

Richard M. McVey's holdings in MarketAxess have seen notable fluctuations. In September 2019, his holdings were valued at approximately $345 million, steadily rising to about $522 million by July 2020—a peak that represents 80% of the company’s stock value at the time. However, as of September 2023, it has dipped to around $145 million, reflecting the volatility of the market and the company's performance. Despite these fluctuations, McVey has managed to secure substantial vested stock units worth nearly $900,000 in 2023. His long-term commitment is evident through significant stock options worth millions due to their strategic vesting schedules. Over the years, these holdings have not only contributed to his wealth but have also highlighted his faith in MarketAxess's future growth. McVey is well positioned financially, signaling confidence in his leadership through his concentrated stock portfolio.

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Total Stock Sold

$248.64M

MKTX

$248.64M

1,232,672 MKTX shares

What if they kept their stock?

If Richard M. McVey didn't sell their stock, today they would have:
Extra MKTX1,232,672 shares worth $470.26M.
This is 89.13% and $221.62M more than what they got when they sold the stock.

Charitable Transactions

MKTX

297,310 shares

MKTX

Recent Charitable Transactions

MKTX

9,300 shares

MKTX

May 22, 2024

Charity

MKTX

21,000 shares

MKTX

Dec 15, 2022

Charity

MKTX

25,000 shares

MKTX

Dec 14, 2021

Charity

MKTX

15,000 shares

MKTX

Dec 14, 2020

Charity

MKTX

50,000 shares

MKTX

Nov 9, 2020

Charity

MKTX

40,000 shares

MKTX

Dec 13, 2019

Charity

Insider Trading

See recent insider trades of Richard M. McVey.

MKTX

$13.54M

MKTX at $270.73/share

Nov 12, 2024

Sale

MKTX

9,300 shares

MKTX

May 22, 2024

Charity

MKTX

2,611 shares

MKTX

Feb 15, 2024

Received

MKTX

1,277 shares

MKTX

Jan 15, 2024

Received

MKTX

2,494 shares

MKTX

Feb 15, 2023

Received

MKTX

4,589 shares

MKTX

Jan 18, 2023

Received

MKTX

21,000 shares

MKTX

Dec 15, 2022

Charity

MKTX

2,300 shares

MKTX

Jan 31, 2022

Received

MKTX

25,000 shares

MKTX

Dec 14, 2021

Charity

MKTX

$6.51M

MKTX at $485.21/share

Aug 9, 2021

Sale

Compensation History

See how much did Richard M. McVey make over time.

In the realm of executive pay, Richard M. McVey's structure is heavily performance-oriented. In 2023, he pulled in around $5.35 million, which includes a base salary of $650,000 and a hefty cash bonus of $1.19 million, contingent on impressive operating results. Compared to the previous years, his pay strategy effectively resonates with his responsibilities and results achieved—he earned around $7.25 million in total compensation in 2021, indicating a system that rewards both individual and company performance. This pay model is designed to motivate McVey to lead MarketAxess towards greater profitability and shareholder value. His employment agreement, still in effect until January 2025, aligns his interests with those of the shareholders, fostering a culture of performance over entitlement. As a key executive in a competitive market, McVey expertly balances immediate rewards with long-term incentives, making his compensation both a reflection of his role and an encouragement for continued excellence.

Year

2023

Total Compensation

$2.74M

Salary

$650.00K

Board Justification

The compensation philosophy emphasizes performance-based compensation aligned with company performance and retention strategies.

Bonus

$1.19M

Board Justification

Annual cash incentive based on adjusted operating income and individual performance metrics for 2023.

Other

$0.00

Board Justification

No additional compensation reported for 2023.

Restricted Stock

$894.17K(2.49K RSU)

Board Justification

Restricted Stock Units (RSUs) granted in February 2023 that vested in 2023.

Performance Metrics

Adjusted operating income and individual performance metrics.

Other MarketAxess CEOs

Here are other CEOs of MarketAxess

Christopher R. Concannon

CEO of MarketAxess

January 2023 - Present