Investment management heavyweight Capital Group has joined the not-for-profit trading consortium Plato Partnership as a buy-side founding member.
Capital Group, which has $2.1 trillion in assets under management, joins Plato Partnership’s growing list of buy-side members as it aims to bring efficiencies to the European equity trading landscape.
Allianz Global Investors, Schroders, and T. Rowe Price were added most recently, joining existing members including Invesco, Janus Henderson, Legal & General Investment Management, BlackRock, Fidelity Investments, Union Investment, and Baillie Gifford.
“Privately owned investment houses like Capital Group are focused on the long term and we have been impressed with the scope and scale of contribution that the Plato Partnership has made to the European equities market to date and look forward to being an active contributor in the future,” said Simon Steward, head of European equity trading at Capital Group.
The addition of Capital Group follows a series of initiatives by Plato Partnership recently. The group partnered with analytics provider, Urvin.Compliance, to launch a platform for regulatory due diligence, PLIA by PLATO.
Last year, Plato Partnership also launched a transaction cost analysis (TCA) platform from US-based BabelFish Analytics, its preferred partner for buy- and sell-side venue and routing analytics, and teamed up with BMLL Technologies to launch a free market quality data tool, Platometrics.
“We are delighted to welcome Capital Group into our organisation. The insights and experience they bring with their buy-side perspectives will no doubt prove incredibly invaluable to the Partnership,” said Mike Bellaro, CEO of Plato Partnership.