Plato Partnership announced that, after a short transition period, Chief Executive Officer Mike Bellaro will step down. Mike was a founding member of Plato, representing Deutsche Bank in the Partnership’s earliest days. He later took on the role of CEO in 2018, guiding the organisation through a period of growth and increasing influence.

The Advisory Committee – made up of representatives from each member firm – will lead a member-driven review to refine Plato’s strategy. While that work is underway, an interim leadership team of Buy Side Chair Simon Steward, Sell Side Chair Salvador Rodriguez and Head of Marketing & Communications Jack Benda will keep day-to-day operations in motion.

During his tenure as CEO, Mike oversaw significant growth and diversification of the Partnership. Membership expanded to more than 35 leading buy‑ and sell‑side institutions, including its first hedge fund member. He strengthened the award‑winning Turquoise Plato™ partnership, enhancing efficiency, transparency and choice in European block trading. Under his leadership, Plato commissioned and published MI3 Academic Research on subjects including market fragmentation and the impact of AI on trading workflows, providing members and the wider industry with independent, data‑driven insights.

He led regulatory advocacy initiatives, such as publishing industry‑backed standards for managing cash equities market outages and supporting the modernisation of ECM workflows. He facilitated cross‑member collaboration on shared issues from market data costs to settlement cycles, expanded the events programme to make the MI3 Academic Conference and other forums established fixtures, and ensured the Partnership’s contributions remained grounded in members’ priorities. These efforts reinforced its standing as a respected, independent member‑led organisation.

Mark Wilcox, who joined as Chief Operating Officer in 2018, will also step down at the end of the transition period. His operational leadership, deep member engagement, and stewardship of research programmes and industry initiatives have turned strategic vision into market‐wide outcomes.

Salvador Rodriguez, Sell‐Side Chair of the Plato Advisory Committee, said: “Over seven years as CEO, Mike has consistently shown an ability to bring together buy‐side, sell‐side and market operators in a way no one else has managed. His talent for finding common ground and pushing for solutions that work for the whole marketplace has shaped Plato into a respected and effective voice for positive change. Mark’s operational focus, meticulous planning and steady hand have been just as critical – ensuring
that great ideas translate into tangible progress. Together, they leave with the gratitude of the Advisory Committee for making Plato stronger, more collaborative and better prepared for the future.”

Simon Steward, Buy‐Side Chair of the Plato Advisory Committee, said: “Mike’s tenure has laid down the structures and relationships that will carry Plato forward for many years to come. He’s built a forum where members can not only debate the big issues in European equities, but act on them. We are proud of the string of Plato initiatives that have improved efficiency and fairness across the market. Mark’s role in delivering those outcomes, often behind the scenes, has been vital. As we move into this next chapter, the Advisory Committee will work to identify the opportunities and challenges ahead, ensuring Plato continues
to lead with purpose, independence and innovation.”

As the organisation enters this new phase, the Advisory Committee would like to thank Mike and Mark for their service and achievements. In the months ahead, it will work with members to set the course for Plato’s next chapter – ensuring the Partnership continues to represent the interests of its members and the wider marketplace and adapts to the evolving equities landscape.

Source: Plato