Instinet Incorporated, a provider of electronic trading and agency-only brokerage services, has created 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.
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.
“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,” said Kondo, in a press release.