JP Aubin will step down as co-chief executive of BGC Group, the Nasdaq-listed brokerage, market data and financial technology company, at the close of business on 31 December 2026 and become vice chairman, leaving John Abularrage and Sean Windeatt as co-chief executives, according to BGC’s announcement of 3 November 2026. BGC’s second-quarter results, filed with the SEC, guided third-quarter revenue to between $775 million and $835 million against $736.8 million a year earlier and showed EMEA revenue up 11.2%, the fastest of BGC’s three regions, Fintechbits found. BGC reports those third-quarter results on 5 November 2026.

What JP Aubin’s move changes

BGC has run with three co-chief executives since Howard Lutnick left in February 2025 to become US Commerce Secretary. BGC’s 2024 annual report amendment records that the board appointed Abularrage, JP Aubin and Windeatt as co-chief executives after Lutnick’s departure. From 1 January 2027 there will be two. The release does not say whether Aubin’s European responsibilities pass to Abularrage, Windeatt or a new regional head, and BGC said only that the two remaining co-chief executives will oversee all regions and businesses.

JP Aubin said he worked with Lutnick for twenty years and, after “more than three decades in the industry,” the time is right to become vice chairman. He will focus on “the markets and regions I know best, our clients, and our people,” and on developing new markets. Abularrage said “our strategy is unchanged.” Windeatt credited Aubin with growing “our European business and our Listed Products business into leading franchises.”

The European record behind JP Aubin

That European business is the best-performing part of BGC on the most recent numbers. In the second quarter of 2026 BGC posted record revenue of $845.5 million, up 7.8%. EMEA revenue rose 11.2%, Americas 6.1%, and APAC fell 2.9%. JP Aubin keeps a role, so the relationships stay inside the firm, but day-to-day accountability for that growth now sits with two people rather than three.

The same filing shows where BGC is putting its energy. FMX, its US Treasury and futures venture, lifted its US Treasury market share to 42%, an all-time high, in the second quarter, and BGC announced a prediction market partnership with Fanatics in July. Prediction markets have drawn a crowd of entrants, from Kalshi integrations such as Phantom’s to exchange-backed ventures.

Timing and the third quarter

The announcement lands two days before results. BGC guided third-quarter revenue to $775 million to $835 million and pre-tax adjusted earnings to $172 million to $190 million. The bottom of that revenue range is still above the $736.8 million of the third quarter of 2025, so even a weak print would be growth. Rival venues are consolidating too: Tradeweb agreed to pay $1.75 billion for Trumid in October, as Fintechbits covered.

Fintechbits analysis

Why the JP Aubin change is tidy rather than troubling

Three co-chief executives was always an unusual structure, built to replace Howard Lutnick. Moving to two, with JP Aubin kept on as vice chairman and reporting to them, simplifies decision-making without losing the executive who built the fastest-growing region. The risk is in EMEA itself: if growth there slows after 2026, investors will ask whether the client relationships were Aubin’s rather than BGC’s. The 5 November results are the first data point, and the 2027 quarters will be the real test.

Frequently asked questions

When does JP Aubin step down as BGC co-CEO?

JP Aubin steps down as co-chief executive at the close of business on 31 December 2026 and becomes vice chairman. He will report to co-chief executives John Abularrage and Sean Windeatt.

Who runs BGC after the change?

John Abularrage and Sean Windeatt continue as co-chief executives, overseeing all of BGC’s regions and businesses. BGC said its strategy is unchanged.

What revenue did BGC guide for the third quarter of 2026?

BGC guided third-quarter 2026 revenue to $775 million to $835 million and pre-tax adjusted earnings to $172 million to $190 million. It reported $736.8 million of revenue in the third quarter of 2025.

What to watch next

BGC’s third-quarter results on 5 November 2026 will show whether revenue landed inside the $775 million to $835 million range and whether EMEA kept outgrowing the other regions. Any reallocation of EMEA responsibilities between Abularrage and Windeatt would show how the two-person structure will work.