NEX Group has appointed a new chief executive officer of its post-trade business following Jenny Knott’s decision to leave the firm to pursue other opportunities.
Ken Pigaga - currently global chief operating officer at NEX Group - will take over as CEO of NEX Optimisation effective immediately, although Knott will remain with the firm for a handover period.
Having first joined NEX Group in August 2015, Knott has been instrumental in transforming the firm’s post-trade, risk and information businesses into a single business division.
NEX Group said Knott feels the time is right to step down and concentrate on pursuing other opportunities outside of NEX.
She commented: “Having redesigned NEX Optimisation, it is now time to let them execute on the new structure and for me to pursue new entrepreneurial opportunities".
Michael Spencer, CEO at NEX Group, added that throughout her time with the post-trade business Knott has “evolved our client strategy and implemented a simpler and more unified operating model, identifying and adopting new and emerging technologies”.
Pigaga will hand over his COO responsibilities to Sam Wren, the current group chief financial officer, who will also assume the position in addition to her role as group CFO.
“[Pigaga’s] experience leading complex change-management programmes will help us deliver on the financial aspirations and cost savings identified, while his experience managing technology functions will allow us to execute the roll-out of NEX Infinity to our clients,” Spencer added.
“The Board and I thank Wren for taking on the role of Global COO in addition to her role as Global CFO. We are entering a very exciting stage in the evolution of NEX and I believe that we have the right management team in place to deliver on our strategy.”