Delray Beach, FL – December 11, 2023 – InspereX, the tech-driven fixed income and market-linked product distribution and trading firm, today announced that Deryk Rhodes has been appointed Head of Market-Linked Products, effective February 1, 2024. Mr. Rhodes will report to John DesPrez III, CEO of InspereX.
Mr. Rhodes has held a variety of positions with increasing responsibility at InspereX since 2010. He will assume responsibility for all aspects of market-linked products origination, trading, and distribution, including the firm’s wholesale and dealer/institutional investor direct channels. InspereX originates offerings with every major issuer in the market and is a top third-party liquidity provider for secondary market-linked products. The firm has earned the honor of Best Broker-Dealer, USA in the Structured Retail Products (SRP) Americas Awards for the last five consecutive years.
“Deryk is the perfect choice for this appointment,” Mr. DesPrez said. “Over the last 14 years, he has been involved with virtually every aspect of our market-linked products business and has had a significant hand in its growth. He has strong, long-standing relationships with all of the important issuers, distributors, tech platforms, and service providers in the space. I look forward to Deryk’s future contributions and, on behalf of the firm, would like to congratulate him on this well-deserved appointment.”
Mr. Rhodes succeeds Hugh McHaffie in leading the division. Mr. McHaffie will retire on January 31, 2024, after nearly nine years as the head of market-linked products.
Speaking to Mr. McHaffie’s retirement, Mr. DesPrez added, “It was a great privilege working alongside Hugh; his contributions to InspereX are immeasurable and go far beyond the growth of our business. He is a great friend and I know he will be missed by all of his colleagues at InspereX. We wish him the very best in his retirement and applaud him for an outstanding career.”
Mr. Rhodes formerly served as the firm’s Head of Market-Linked Products Trading & Origination.
Prior to joining InspereX in 2010, Mr. Rhodes served as Head of Structured Products Trading at Newbridge Securities. His experience also includes serving as a Director at Citigroup, focusing on market-linked product sales to third-party dealers and institutional accounts, and as a Vice President within the market-linked products structuring and trading group at Nomura Securities.
Mr. Rhodes has been a frequent speaker at industry conferences and is regularly quoted in investment journals. He will continue to serve as a member of the firm’s Executive Committee.
“I am truly honored to be appointed Head of the Market-Linked Products business and am excited to build upon the division’s legacy of success. It’s an exciting time to be in this business as structured products are rapidly evolving into an important solution for more investors and their advisors. The opportunity ahead is significant, and I look forward to supporting our team’s ability to provide best-in-class solutions and service,” Mr. Rhodes said, adding: “I am truly grateful to Hugh for his years of support and partnership.”
To ensure a seamless transition, Mr. Rhodes has been working closely with Mr. McHaffie since learning of his retirement.
About InspereX
InspereX is a leading underwriter and distributor of fixed income and market-linked securities to more than 1,500 broker-dealers, institutions, asset managers, RIAs, and banks. The firm represents more than 400 issuing entities and has underwritten more than $700 billion in securities. Its pioneering BondNav® platform provides deep access to fixed income market data across asset classes with a focus on delivering true price transparency and the information advantage gained through data aggregation. InspereX has seven trading desks and more than 170 employees with principal offices in Delray Beach, San Francisco, Chicago, and New York City.
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