BGC Announces the Appointment of Phil Cramp as Head of Credit, Repo and EGBs in London

LONDON, Oct. 29, 2014 /CNW/ -- BGC Partners, Inc. (NASDAQ:  BGCP) ("BGC Partners," "BGC," or "the Company"), a leading global brokerage company servicing the financial and real estate markets, today announced the appointment of Phil Cramp as Head of Credit, Repo and EGBs in London. Mr. Cramp succeeds Rob Kitchin who has been employed with BGC for twenty years and is leaving to pursue interests outside the industry. Mr. Cramp will formally assume Mr. Kitchin's role on December 1, 2014.

"We are delighted to announce Phil's appointment. He is a well-respected and experienced leader who brings valued experience in credit and rates," commented Shaun D. Lynn, President of BGC Partners. "His strong track record of delivery and integrity is vital as we implement our aggressive plans. I look forward to working with him closely as we spearhead these growth initiatives."

"I am excited to join BGC, the positive and ambitious atmosphere across brokers and management alike is highly energizing," Mr. Cramp commented. "I look forward to working with BGC's management and brokers and to growing the Credit, Repo and EGBs businesses in alignment with the company's growth plans."

Mr. Cramp joins BGC with 30 years of financial markets experience. He was previously Head of Credit EMEA at ICAP, a position he held from 2012 to June 2014. Prior to this, Mr. Cramp was Managing Director of Euro Interest Rate Swaps at ICAP. Mr. Cramp began his career at Tullett and Tokyo, where he worked in the Financial Futures Division before moving to the Capital Markets Division.

Mr. Lynn continued: "Phil's strong credentials are especially important as we say farewell to Rob, an industry veteran who has excelled in his role here for 20 years, both as a top producing broker and member of the senior management team. We are sorry to see him go and hope to work with him on an ad hoc basis in the future. Meanwhile, we wish him all the best in his new endeavours."

Mr. Kitchin commented: "I have been part of BGC for two decades and have greatly enjoyed this experience. While I am excited to begin a new chapter of my life I will miss my colleagues and clients and wish them all the best."

About BGC Partners, Inc.

BGC Partners is a leading global brokerage company servicing the financial and real estate markets.  Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions.  Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets.  Through the Newmark Grubb Knight Frank brand, the Company offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC's common stock trades on the NASDAQ Global Select Market (NASDAQ: BGCP) while BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange (NYSE:  BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com. 

BGC, BGC Trader, Newmark, Grubb & Ellis, and Grubb are trademarks and service marks of BGC Partners, Inc. and/or its affiliates.  Knight Frank is a service mark of Knight Frank (Nominees) Limited.

Discussion of Forward-Looking Statements by BGC Partners

Statements in this document regarding BGC Partners' business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements.  For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in our public filings, including our most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.

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SOURCE BGC Partners, Inc.