Richard McVey's net worth is estimated at around $600 million, according to Celebrity Net Worth, though estimates vary widely depending on how his MarketAxess stock holdings are valued -- other sources put the figure anywhere from $250 million to $600 million. His wealth comes almost entirely from founding and building MarketAxess, the electronic bond-trading platform he took public in 2004.
McVey stepped down as MarketAxess's CEO in April 2023 after 23 years in the role, moved to Executive Chairman, and fully retired from the company's leadership at the end of 2024. He is married to Good Morning America co-anchor Lara Spencer.
Quick Facts
| Full Name | Richard Mitchell McVey |
| Born | July 2, 1959, Painesville, Ohio |
| Education | B.S. in Finance, Miami University (1981); MBA, Kelley School of Business, Indiana University (1983) |
| Known For | Founder of MarketAxess (2000); CEO until April 2023 |
| Career Path | Dean Witter (later Morgan Stanley); head of trading, Dean Witter Shearson |
| Spouse | Lara Spencer, co-anchor of Good Morning America (married September 1, 2018) |
| Estimated Net Worth | Around $600 million (estimates vary) |
Early Life and Education
Richard Mitchell McVey was born on July 2, 1959, in Painesville, Ohio. He earned a B.S. in finance from Miami University in 1981, where he played on the golf team, worked on the school paper, and was a member of the Kappa Alpha fraternity. In 1983, he earned an MBA from Indiana University's Kelley School of Business.
Career Before MarketAxess
After graduate school, McVey joined Dean Witter (later part of Morgan Stanley), becoming the firm's youngest vice president within four years. In 1987, he became head of trading at Dean Witter Shearson. He later moved to J.P. Morgan, where in 1999 he proposed the concept for an electronic bond-trading platform as part of the bank's "LabMorgan" innovation program.
Founding MarketAxess
McVey founded MarketAxess in 2000 with roughly $24 million in capital from market participants including Bear Stearns, building an electronic trading platform for corporate and other fixed-income bonds. The company went public on the Nasdaq in November 2004. As of 2025, MarketAxess holds about 17% of U.S. corporate bond trading, alongside smaller shares of municipal and government bond trading, and serves roughly 2,100 institutional clients.
Retirement from MarketAxess
In April 2023, Chris Concannon succeeded McVey as CEO of MarketAxess after McVey's 23-year run in the role, with McVey moving to Executive Chairman. McVey retired from that position at the end of 2024, and Carlos Hernandez became Chairman of the Board effective January 1, 2025.
Personal Life
McVey married Good Morning America co-anchor Lara Spencer on September 1, 2018, in Vail, Colorado, in front of 135 guests; the couple began dating in 2017. Spencer was previously married to real estate broker David Haffenreffer, with whom she has two children, Katharine and Duff. McVey has three daughters from a previous marriage.
Frequently Asked Questions
What is Richard McVey's net worth?
Estimated at around $600 million, though figures vary depending on how his MarketAxess stock is valued.
Is Richard McVey still CEO of MarketAxess?
No. Chris Concannon became CEO in April 2023, and McVey fully retired from his Executive Chairman role at the end of 2024.
Who is Richard McVey's wife?
Lara Spencer, co-anchor of Good Morning America; they married in September 2018.