Kellner Replaces Plunkett As President of Instinet

Instinet named Jonathan Kellner, its head of U.S. sales trading, to become president of Instinet, LLC, the U.S. brokerage subsidiary known for electronic trading and agency brokerage services.

Kellner is replacing Mike Plunkett who left the firm after serving it for 15 years to pursue other personal and professional interests, according to the announcement.

Kellner is now responsible for the day-to-day operations of Instinet’s U.S. business units, according to yesterday’s news announcement.

The management change follows the acquisition of Instinet by Japanese securities firm Nomura Securities International (NSI) in 2007, and the ongoing integration of both firms’ algorithms and electronic trading technologies.

Kellner joined Instinet in 2007 when the U.S. equity-trading desk of NSI a subsidiary of Instinet’s corporate parent, Nomura Holdings, Inc. was integrated into Instinet’s U.S. operations. Kellner held a variety of positions after joining NSI in 200, most recently as managing director responsible for U.S. equity and global portfolio sales and trading.

Previously, Kellner held senior trading and technology positions at Charles Schwab & Co., Investment Technology Group and Morgan Stanley. Kellner worked for many years with Anthony Abenante, Instinet’s co-CEO who also worked at ITG and at Morgan Stanley. According to a source, Kellner began his career in technology at Morgan Stanley where Abenante also worked and then both crossed paths at ITG.

In a statement, Abenante said: “He understands the needs of our customers, the value of our franchise and the challenges presented by today’s rapidly changing and highly complex markets. His knowledge, experience and leadership will be invaluable in continuing the success Instinet has achieved during the past 18 months.”

Meanwhile, it was Plunkett’s last day at the firm yesterday. “Spending over 15 years at Instinet, Mike was a significant contributor in helping to shape the firm into what it is today. We wish him all the best in the future,” stated Abenante.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio