Instinet, a global agency broker and independent subsidiary of
Nomura Holdings, Inc., today announced the promotions of John F. Fay
and Alex Goor to co-CEO. Mr. Fay and Mr. Goor, previously
co-Presidents of the firm, will succeed Edward J. Nicoll, who will
remain as Chairman.
"I have worked side by side with John and Alex for over 10 years,
and have watched them develop their considerable talents and vision,"
said Nicoll. "I'm certain that they will continue Instinet's tradition
of excellence as they lead us in the future as part of the Nomura
family."
"Instinet has long been a pioneer in electronic trading, relying
on advanced trading technologies, global reach and, above all else,
dedicated client service," said Goor. "With these values in mind, John
and I could not be happier about the opportunity to lead the firm."
"This is an extremely exciting period in the firm's history, with
volumes and market share up in all regions, global initiatives like
JapanCrossing(SM) and Chi-X(R) starting to pay dividends, and a new
suite of offerings that we will be able to provide clients as part of
Nomura," added Fay.
Mr. Fay will direct Instinet's businesses in Europe and Asia as
well as its finance organization, while Mr. Goor will continue to lead
Instinet's North American business as well as its technology
operations.
Before joining Instinet, Mr. Fay was CFO of Island Holding
Company, which was acquired by Instinet in 2002. Prior to that Mr. Fay
held senior management positions at Goldman Sachs, Morgan Stanley and
Dean Witter. Mr. Fay serves on the Board of WR Hambrecht + Co, is a
graduate of Mount St. Mary's College and has an MBA in Finance from
the Stern School of Business at New York University.
Mr. Goor previously served as President of Inet ATS, Inc., which
Instinet sold to The Nasdaq Stock Market, Inc.(R) in 2005, and before
that held senior management positions at Datek Online and Watcher
Technologies. Mr. Goor serves on the Board of BondDesk Group and is a
graduate of Columbia University.
About Instinet
Instinet, through its subsidiaries, acts as a global agency
broker, providing the trading expertise and advanced technology
necessary to successfully interact with more than 50 securities
markets worldwide. Acting solely as an agent for its customers,
Instinet seeks to improve institutional investment performance and
lower overall trading costs through its various front-end trading
systems, securities crossing networks, algorithms, commission
management programs and investment research products. The company,
which is an independent subsidiary of Nomura Holdings, Inc., is
headquartered in New York and maintains offices in North America,
Europe and the Asia Pacific region. For more information, please visit
www.instinet.com. Instinet conducts its U.S. institutional brokerage
business primarily through Instinet, LLC, member NASD/SIPC.
(C)2007 Instinet, LLC. All rights reserved. INSTINET is a
registered service mark in the United States and in other countries
throughout the world. Instinet, LLC is a member of NASD/SIPC.
