Agency broker Instinet’s US-based co-chief Anthony Abenante is stepping down from his role. In his place, fellow co-CEO Fumiki Kondo will take a lone leadership role in the firm.
The news comes barely weeks after it was confirmed 20 April that Europe CEO Richard Balarkas was leaving the firm.
No official word has come as to when either Abenante or Balarkas will officially leave but Abenante is expected to remain at Instinet for the next couple of weeks, while Balarkas would likely remain until a replacement is found in the next few months.
Instinet was bought by Japanese investment bank Nomura for US$1.2 billion in 2006 from private equity house Silver Lake, which had itself bought the broker for just US$208 million the year before. In November 2008, Nomura also bought the operations of Lehman Brothers in Europe for an undisclosed sum and those in Asia for US$225 million, following the US broker's collapse, which significantly boosted Nomura's ex-Japan equities businesses. The Japanese bank is presently discussing how to integrate the two businesses.
“We would like to thank Anthony for his many contributions to the Nomura Group over the past nine years,” said Naoki Matsuba, joint head of global equities at Nomura. “We wish him nothing but the best in his future endeavours.”
Meantime at Bank of America Merrill Lynch, in addition to his EMEA role, Ashok Krishnan has been given global responsibility for execution services. Krishnan’s expanded role comes as incumbent Roger Anerella leaves to pursue other interests. Krishnan continues to report to Fabrizio Gallo, global head of equities and head of EMEA global markets.