Instinet’s CEO is preparing to leave, and a new hire from Goldman Sachs might take his place

Business
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Jonathan Kellener, the CEO of Instinet, is expected to step down from the broker later this year, according to people familiar with the matter.
Former Goldman Sachs trading executive Ralston Roberts is cited as a potential replacement, the people said.

The chief executive officer at Instinet, the agency broker owned by Japanese investment bank Nomura, is preparing to step down later this year, according to people familiar with the mater.

Instinet CEO Jonathan Kellner joined the company in 2007 as its head of US sales trading and took on the top position at the firm in 2014.

Recently, Financial News reported that Ralston Roberts, a electronic trader executive from Goldman Sachs,was joining Instinet as chief operating officer. Roberts is cited as a potential replacement for Kellner, the people said.

A spokesperson for Instinet declined to comment.

Elsewhere at Instinet, the firm has been scooping up a number of former KCG employees, including William Wiley, as head of strategy; Brian Bulthuis, as an executive director; and Denise Fiacco in the quant trading strategy group.

Many of those hires were part of a broader effort at the firm to broaden its focus on quant research and development to improve the quality of trade execution.

Instinet provides algorithmic trading products, trading analytics, and other execution services, working out of offices in New York, London, San Francisco, Edinburgh, and Hong Kong.

See also:

A top Morgan Stanley electronic trading exec is out
The high-profile trader who slammed ex-employer ITG with a lawsuit is gearing up to launch a firm of his own

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Source:: Business Insider – Finance

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