Richard McVey is an American entrepreneur and businessman who is best known for his leadership efforts at Market Axess. He has served as CEO and president of the company for two decades. Rick is a master in the financial world of commerce, but he is also known for his innovations in technology and for developing an e-commerce platform. He is also married to a media celebrity. To help you get acquainted with it, here are 10 Things You Didn’t Know About Richard McVey.
1. He founded Market Axess
McVey is not only the CEO and president of Market Axess, but he also founded the company. He launched the e-commerce platform for fixed income products and corporate bonds in April 2000. The business has thrived for the past 20 years and he remains in command.
2. He is a native of Ohio
McVey was born in Painesville, Ohio in 1960. He grew up in a suburb of Cleveland. He is currently 60 years old. He prefers to use Rick’s name for his friends and family. After completing his university studies in 1983, he returned to Cleveland to work in a bank.
3. He was educated in Ohio
After completing high school requirements and graduating, Rick continued his education at the University of Miami in the state of Ohio. He enrolled in the finance program at the institution where he obtained his bachelor’s degree in the subject. He then attended the Kelley School of Business at Indiana University, where he earned his MBA degree in 1983.
4. Richard’s father was a major influence on his career.
Rick’s father was involved in senior management. He ran an oil company. His father was also active in investing in the stock market. He left an impression on Rick with his investment activities and encouraged McVey to follow in his father’s footsteps by founding a finance company and running the business himself.
5. Richard McVey has been married twice
Rick is currently married to his second wife, Laura Spencer. The couple tied the knot on September 1, 2018. Spencer is the co-host of the weekday news program “Good Morning America. McVey was previously married, but the union failed and ended in divorce. He has three daughters from that marriage. This is also Laura’s second marriage. Rick’s current wife has 2 children from a previous marriage.
6. He’s a billionaire
As of fall 2020, Richard McVey’s net worth is valued at an estimated $ 611 million. He has nearly a quarter of a trillion in Market Axess shares. He has been involved in trading on the stock market for the past 16 years. His salary as chairman of the board and chief executive officer of the company far exceeds $ 3 million a year. Interestingly, his wife Laura is also worth $ 6 million that she earned in her career as a journalist and television personality.
7. You are a regular trader
We also learn that Mr. McVey is an avid businessman. He has sold more than $ 126,651 million in MKTX stock in the last 16 years. This is a skill that his father also possessed. You know when to sell, when to trade, and when to hold your shares. Its most recent sale is reported to have been for 25,000 units of shares that were valued at just under $ 13 million. In May 2012, McVey made his most significant transaction when he exercised $ 2,400,000 worth of Market Axess shares. He traded 888,889 units of the share in a single operation. Since 2004, it has averaged 27,977 units of trading shares approximately every 47 days.
8. You started your career working in a bank.
Rick McVey began his career in finance at a bank located in the city of Cleveland. His official position was that of merchant. Although it was more of a hobby his father was good at, Rick got serious about asset trading. He honed his skills working at a financial institution before trying it out on his own.
9. Rick McVey has worked for a few different financial institutions.
Before earning his fortune, Rick McVey has worked for a variety of well-known financial institutions. After leaving the Cleveland-based bank, he accepted a position on the Chicago Mercantile Exchange. This gave him a more diversified professional experience. After leaving the Chicago Mercantile Exchange, he was invited to join JP Morgan in New York. It was there that he developed a vision of how e-commerce could be improved and how he could use the knowledge he gained to provide this valuable service to others in the financial arena.
10. Richard McVey became an entrepreneur
In 2000, Rick McVey decided the time had come to put …