Instinet, a global securities firm and wholly-owned subsidiary of
Nomura Holdings, Inc., today announced that Richard Balarkas has
joined its Instinet Europe Limited (IEL) subsidiary as President and
CEO. Mr. Balarkas, together with recent IEL hires Clive Triance as COO
and Stephen Corker as CFO, form the new IEL senior management team.
Mr. Balarkas will be responsible for IEL´s overall operations and
business strategy and will jointly report to Fumiki Kondo, co-CEO of
IEL´s corporate parent Instinet, Inc., and IEL Chairman Tony Mackay
who has relinquished his day-to-day duties at IEL to focus on his role
as CEO of Chi-X Global, Inc. Mr. Balarkas has more than 20 years of
industry experience and joins Instinet from Credit Suisse, where he
most recently served as global head of sales in its AES agency
brokerage division.
"There is currently an unrelenting focus in the equity markets on
how the trading process can significantly impact fund performance,"
commented Mr. Balarkas. "As such, brokers are being selected primarily
for their ability to provide best execution, a task which requires
continuous investment in new and innovative trading services to
complement more traditional services. I believe that the combination
of Instinet´s unconflicted agency model, global reach and continued
commitment to the evolution of more efficient market structures and
advanced equity trading tools make us uniquely positioned to meet the
needs of our clients."
Mr. Triance, who joined Instinet in October 2007, also brings over
20 years of experience in the financial services industry, most
recently as Managing Director of Securities and Fund Services for EMEA
at Citigroup.
Finally, Mr. Corker, who joined Instinet in January, comes aboard
after 12 years with Tullett Prebon, a FTSE 250 company and formerly
part of Collins Stewart Tullett, where he most recently served as
European CFO.
"That a team with this depth of experience has decided to join
Instinet is a testament to our business model and the momentum we have
established over the past few years," said Instinet, Inc. co-CEOs
Anthony Abenante and Fumiki Kondo in a joint statement.
Instinet Europe Limited is one of Europe´s largest agency
brokerages. It is a top 10 broker by market share ranking on the
London Stock Exchange*, and employs more than 40 sales and trading
personnel in four European locations. Instinet Europe provides its
clients with a comprehensive suite of trading services that includes
agency sales trading, global portfolio trading, algorithmic
trading/DMA and commission management.
* According to the London Stock Exchange.
About Instinet
Instinet provides the necessary trading tools, ATS platforms and
liquidity to achieve a high-quality trade execution in more than 40
countries. Acting solely as an agent for more than 1,500 clients
around the world, Instinet seeks to improve institutional investment
performance and lower overall trading costs through its various
front-end trading systems, securities crossing networks, smart-routing
technology, algorithms, commission management programs and investment
research products. Instinet´s subsidiaries operate a wide array of ATS
platforms globally, including CBX(SM) in the United States
JapanCrossing(SM) in Asia and Chi-X(R) in Europe, Canada and, soon
Australia. Instinet is a wholly-owned subsidiary of Nomura Holdings
Inc., and has offices in North America, Europe and the Asia-Pacific
region. For more information, please visit www.instinet.com.
(C)2008 Instinet, Inc. All rights reserved. INSTINET is a
registered trademark in the United States and in other countries
throughout the world. Approved for distribution in Europe by Instinet
Europe Limited, which is authorised and regulated by the Financial
Services Authority. Approved for distribution in the United States by
Instinet, LLC, member SIPC.
