Former buy-side trader Johan Erikson has joined Neonet Securities to head up the expansion of its commission sharing agreement business.
Erikson takes on the role of head of execution services at the Stockholm-based agency broker, which recently embarked on a major overhaul of its execution offering.
He was previously global head of trading for DnB Asset Management and prior to joining that business in 2000 spent ten years in various sell-side institutions.
Tim Wildenberg, CEO of Neonet, said: “We are very pleased to welcome someone of Johan’s calibre into this important role. His breadth of industry understanding and market knowledge will help us differentiate our offering at a time when clients are questioning the status quo of existing broker relationships.”
Erikson’s appointment will complement a deal between Neonet and LiquidMetrix to partner on algorithm development.
Neonet is focused on further developing its commission sharing tools as the industry moves towards more unbundled services and independent execution.
The agency brokerage was recently spun out of Nordic technology firm Orc by private equity owner Nordic Capital in 2012. Wildenberg, formerly of Citi, joined Neonet in August 2012, telling theTRADEnews.com he planned to put the firm “back on the map” in European execution.