Richard Mitchell McVey (born January 2, 1959) is an American entrepreneur who is chairman and chief executive officer of

MarketAxess MarketAxess Holdings Inc. is an international financial technology company that operates an electronic trading platform for the institutional credit markets, and also provides market data and post-trade services. It enables institutional investo ...

, which operates an

electronic trading platform In finance, an electronic trading platform, also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products ...

for

corporate bonds A corporate bond is a bond issued by a corporation in order to raise financing for a variety of reasons such as to ongoing operations, mergers & acquisitions, or to expand business. It is a longer-term debt instrument indicating that a corpo ...

and other

fixed-income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the prin ...

products. McVey has led MarketAxess since he founded the company in April 2000.

Early life and education

McVey grew up in a suburb of

Cleveland Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located along the southern shore of Lake Erie, it is situated across the Canada–U.S. maritime border and approximately west of the Ohio-Pennsylvania st ...

, where his father ran an oil company and was an active stock investor. McVey attended

Miami University Miami University (informally Miami of Ohio or simply Miami) is a public university, public research university in Oxford, Ohio, United States. Founded in 1809, it is the second-oldest List of colleges and universities in Ohio, university in Ohi ...

where he received a Bachelor of Arts degree in finance and was a member of the

Phi Gamma Delta Phi Gamma Delta (), commonly known as Phi Gam and sometimes written as FIJI, is a North American social fraternity with 139 active chapters and 13 colonies across the United States and Canada. It was founded at Jefferson College, Pennsylvania ...

fraternity, and then received an MBA from the

Kelley School of Business The Kelley School of Business (KSB) is an undergraduate and graduate business school for Indiana University Bloomington and Indiana University Indianapolis. As of 2022, approximately 13,538 full-time undergraduate and graduate students are enr ...

Indiana University Indiana University (IU) is a state university system, system of Public university, public universities in the U.S. state of Indiana. The system has two core campuses, five regional campuses, and two regional centers under the administration o ...

in 1983.

Career

In 1991, McVey was hired by

JP Morgan JPMorgan Chase & Co. (stylized as JPMorganChase) is an American multinational finance corporation headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States, and the world's largest bank by mar ...

, and ran the North America Futures and Options Business, including institutional brokerage, research, operations, finance and compliance. There he rose to become a managing director. In 1995, McVey relocated to

New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...

and moved into fixed income, to run JP Morgan's North American Fixed Income Sales, managing the institutional distribution of fixed-income securities to investors until 2000. McVey along with Richard Schiffman, founded MarketAxess in April 2000 and is chairman and chief executive officer. He originally proposed the business model for MarketAxess in 1999 as part of J.P. Morgan's Lab Morgan program, which was designed to back executives’ ideas for using web-based technology. He launched the company as an independent venture in 2000, after leading an initial funding round which raised $24 million in capital from JP Morgan and other market participants including

Bear Stearns The Bear Stearns Companies, Inc. was an American investment bank, securities trading, and brokerage firm that failed in 2008 during the 2008 financial crisis and the Great Recession. After its closure it was subsequently sold to JPMorgan Chas ...

. In November 2004 he led the company's

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

Personal life

On September 1, 2018, McVey married

Lara Spencer Lara Christine Von Seelen (known professionally as Lara Spencer; born June 19, 1969) is an American television journalist. She is best known for her work on ABC's ''Good Morning America'', previously as co-anchor and currently as contributor. ...

, co-anchor for ''

Good Morning America ''Good Morning America'', often abbreviated as ''GMA'', is an American breakfast television, morning television program that is broadcast on American Broadcasting Company, ABC. It debuted on November 3, 1975, and first expanded to weekends wit ...

'', in

Vail, Colorado Vail is a Home rule in the United States, home rule municipality in Eagle County, Colorado, Eagle County, Colorado, United States. The population of the town was 4,835 in 2020. Home to Vail Ski Resort, the largest ski mountain in Colorado, the ...

. They had previously announced their engagement in January 2018. McVey has three daughters from a previous marriage. In 2020, he donated $20 million to Miami University for the construction of a

data science Data science is an interdisciplinary academic field that uses statistics, scientific computing, scientific methods, processing, scientific visualization, algorithms and systems to extract or extrapolate knowledge from potentially noisy, stru ...

building named after him which opened in February 2024. In 2024, he donated $10 million to

Colby College Colby College is a private liberal arts college in Waterville, Maine, United States. Founded in 1813 as the Maine Literary and Theological Institution, it was renamed Waterville College in 1821. The donations of Christian philanthropist Gardner ...

for the construction of a computational and data science building named after him.

References

{{DEFAULTSORT:McVey, Richard Living people 1959 births