05.31.2016
By John D'Antona

TRADING UP: Instinet Names Govoni, Parsons to Senior Roles; Waddell CEO to Retire

Instinet Inc. announced the appointment of Mark Govoni as president of Instinet LLC, its U.S. brokerage subsidiary. Govoni will be responsible for leading and growing Instinet’s client businesses in the Americas. Govoni previously served as Instinet’s head of U.S. sales trading. He joined Instinet in 2012 when the Nomura Group repositioned certain equities businesses into Instinet Inc.’s platform. Prior to joining Instinet, he was a managing director at Nomura Securities International, responsible for U.S. equity and global portfolio trading, and he also held a senior sales trading position at Merrill Lynch.

Instinet also named Richard Parsons as chief executive officer of its European affiliate, Instinet Ltd. The promotion is subject to regulatory approval. Parsons currently serves as Instinet Europe’s head of sales & trading. He will succeed current CEO Adam Toms, who is stepping down to pursue other interests.

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London-based Linear Investments hired Paul Walker-Duncalf to co-lead its outsourced trading platform. Walker-Duncalf had been global head of trading at BlackRock, a position he left last July. A 25-year veteran, Walker-Duncalf also has worked at Merrill Lynch Investment Managers and Mercury Asset Management.

Loop Capital added James Toland, a former managing director and head of consultant relations at State Street, and Kevin Byrne, Fidelity Investments’ former head of special equities. Both join Loop’s transition management division. In their new roles, Toland and Byrne will serve as senior vice presidents and will be responsible for servicing the firm’s corporate pension and consultant relationships, providing guidance and insight in developing cost-effective implementation strategies.

OpenFin has announced an expansion of its global management team with two senior appointments in London. Cecilia Harvey joins OpenFin as director of account management. Leigha Ruiz assumes the role of COO Europe. Harvey was previously chief operating officer for Citi’s Markets and Securities Services Technology. Prior to Citi, she was the exotics technology program director at Barclays Capital, and spent time at Lehman Brothers, Morgan Stanley, Accenture and IBM Consulting. Ruiz joined OpenFin last year from Electronifie where she was director of relationship management. Prior to Electronifie, she was a senior director at IntercontinentalExchange, managing risk reduction and e-trading services for credit.

The new derivatives market being set up by the London Stock Exchange and a group of banks including JP Morgan has added an executive director from the U.S. bank to its board and is soliciting market-making applications ahead of its launch later this year. Bruno Nehmé, who leads JP Morgan’s strategic investments team in Europe, joined the board of CurveGlobal Ltd on April 11, according to a company filing. The venture, set to launch on September 26, will allow users to trade both short-term and long-term European interest rate futures, pitching it into competition with IntercontinentalExchange and Deutsche Börse’s Eurex.

Academy Securities, a registered broker-dealer and certified Disabled Veteran Business Enterprise, has added Quinten Stevens as its new head of equities and equity capital markets. Stevens has also been appointed to Academy’s Board of Directors. A 29-year veteran of the financial markets, Stevens has been on the buy side in senior management leadership positions in investment management, capital markets and investment banking. He comes from Stevens Asset Management and was its chief investment officer where managed a long short equity hedge fund. Prior to Stevens Asset Management, he worked at Wachovia Securities where he was the head of the equity division, and before Wachovia he was co-head of equity capital markets at J.P. Morgan.

OpenDoor Trading, a fixed income trading firm, has appointed Robert Grillo as its president. Grillo, a Bank of America Merrill Lynch veteran with nearly 30 years’ industry experience, is responsible for driving product development and electronic distribution and help expand the growing pool of primary dealers, central banks, asset management firms and other institutional investors supporting the firm’s trading platform launch.  While at BAML, he was most recently AMRS head of electronic fixed income sales. Prior to that, Grillo was managing director at Deutsche Bank, Credit Suisse First Boston, Black River Asset Management, HSBC and JP Morgan. He was also a member of the original CME OTC Steering Committee.

Vienna Stock Exchange has named a management team, including a new chief executive officer. Boerse Stuttgart’s current co-CEO Christoph Boschan has been named Vienna’s new CEO, after doing senior level stints at several German stock exchanges for the past 10 years. Petr Koblic, CEO of the Prague Stock Exchange, has been appointed chief financial officer and Ludwig Niessen will wear multiple hats and serve as both chief operating officer and chief technology officer.

Hank Herrmann, chief executive of Waddell & Reed Financial Inc. for 11 years, is retiring from the Overland Park-based mutual fund and money management company after a 45 years. Herrmann, 73, will step down Aug. 1, and Philip Sanders, senior vice president and chief investment officer, will succeed him as CEO. He will remain non-executive chairman of the company’s board of directors. Herrmann started at the firm in 1971 as an analyst, moved up to portfolio manager, was promoted to chief investment officer and then became CEO in 2005.

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