Brokerage giant Icap shook up its electronic-trading business, handing the chief executive of its computerised currencies-trading platform responsibility over the company’s BrokerTec fixed-income business.

The move expands the role of Gil Mandelzis, head of Icap's EBS currency-trading business, and unseats BrokerTec's chief executive, Seth Johnson, from that role. Johnson has worked at Icap for more than 20 years.