Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced a new management structure for its Asia-Pacific business following the move of Joseph Marchal, formerly Instinet’s CEO of Asia, to the position of Asia-Pacific CEO for Instinet’s Chi-X business line (see separate 19 November announcement).
The firm’s new regional management structure will operate as follows, with all reporting directly to Fumiki Kondo, co-CEO of Instinet Incorporated:- Nick McDonald, currently Managing Director of Instinet Singapore, and Joji Watanabe, Head of Sales for Instinet Japan, will become Co-Heads of Equities for Instinet in Asia. Both will retain their current roles as well. •
- John Fildes will continue his role as Managing Director of Instinet Pacific in Hong Kong and Instinet Australia Clearing Services in Australia, as well as continuing his responsibility for New Product Development in the Asian region.
- Joel Noell will become Branch Manager of Instinet Japan and will retain his position as Chief Operating Officer of Instinet Japan.
- Tatiana Yudovsky will continue to serve as the Chief Technology Officer for Instinet in Asia-Pacific.
- Julie Chew will continue to serve as the Chief Financial Officer for Instinet in Asia-Pacific.
Commenting on the moves, Mr. Kondo said, “In his four years with Instinet, Joe not only helped Instinet double its market share in the region, he also developed an extremely strong Asia-Pacific management team. Given the team’s understanding of our clients’ needs, the value of Instinet’s agency-only model and the rapidly evolving market structure in Asia-Pacific, both Joe and I believe this is the right team to continue moving our business forward in the region.”
“We see Asia-Pacific as a key market for our Instinet’s growth given the region’s increasing focus on advanced trading technologies and the unbundling of research from execution – two trends that play very well into our agency-only model. We fully anticipate these new additions to the firm helping us to continue growing our Asia-Pacific business,” added Mr. Kondo.