Ice’s AFX swoop shines spotlight on Ameribor prospects
CEO John Shay steps down after exchange group buys firm for mortgage and index synergies
The Intercontinental Exchange’s acquisition of the American Financial Exchange, announced on January 8, was completed with remarkable speed over the holiday season. The unsecured funding platform for regional and community banks had been seeking new investment when the US exchange giant made a surprise swoop late last year.
Former AFX chief executive John Shay, who stepped down following the acquisition announcement, told Risk.net in December that the firm was “in capital raise mode”.
Shay had
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