Richard McVey is an American businessman and the founder, chairman, and CEO of MarketAxess, an international financial technology company.
He was born on July 2, 1959, in Painesville, Ohio, USA, as Richard Mitchell McVey.
His dad ran an oil company.
In 1981, Richard received a B.S. in finance at Miami University. During college, he was part of the golf team.
In 1983, McVey earned an MBA from the Kelley School of Business Indiana University.
He began his career in the futures markets.
From 1992 to 1996, Richard served as the head of J.P. Morgan’s futures and options business in North America.
From 1996 to 1999, McVey was head of North American fixed income sales and investor client relations at J.P. Morgan.
In 2000, McVey founded MarketAxess — the market leader in the electronic trading of US corporate bonds.
In 2001, the company acquired Trading Edge Inc.
In 2004, MarketAxess went public, with a stock value of $11 a share.
In September 2020, MarketAxess agreed to buy MuniBrokers.
In June 2021, he donated $20 million for the expansion of Miami University’s transdisciplinary data science building.
”It is gratifying to help Miami build a distinctive program with this gift, which will increase access to data science programs for Miami students for many decades to come,” McVey said.
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On September 1, 2018, Richard McVey married Lara Spencer in front of 135 friends and family in Vail, Colorado.
Note – Lara Spencer served as the host of the entertainment news magazine The Insider from 2004 to 2011.
Spencer is currently a co-anchor for Good Morning America. Lara also hosts the show Flea Market Flip on both HGTV and Great American Country.
They first met in 2016 after being set up on a blind date by a mutual friend. The two started dating at the start of 2017 and became engaged in January 2018.
”Two years. Two pictures,” Spencer wrote on her Instagram in September 2020 for their two-year anniversary. ”Two people who feel blessed and grateful. Happy Anniversary honey. I love you.”
Both have been married before. Lara was previously married to real estate broker David Haffenreffer.
Spencer and David have two children – a daughter, Katharine, and a son, Duff.
Rick has three grown daughters from his previous marriage. His daughter Taylor is a 2011 Miami University alumna.
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Richard McVey – Net Worth
McVey earned most of his wealth from founding successful financial technology company MarketAxess that controls 85 percent of all US electronic corporate fixed-income trading.
MarketAxess is headquartered in New York and has offices in Singapore, Hong Kong, London, São Paulo, Amsterdam, San Francisco, Boston, Miami, LA, and Chicago.
The company ended 2019 with more than 1,700 client firms active on MarketAxess. As of 2021, it has a global network of over 1,800 firms.
In 2020, the total revenues of MarketAxess increased 34.8 percent to $689.1 million, compared to $511.4 million for 2019.
As of October 2020, MarketAxess is valued at $20.43bn.
In the first quarter of 2021, the company reported record revenues of $195.5 million, up 15.7 percent, compared to $169.0 million for the first quarter of 2020.
Before founding MarketAxess, Rick served as the MD & Head-North America Fixed Income Sales at JP Morgan.
McVey also serves as a member of the Miami University Foundation Board of Directors.
Therefore, entrepreneur Richard McVey has an estimated net worth of $625 million.
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