Chi-X Global, the holding company for the Chi-X trading platforms, has appointed Joseph Marchal as regional CEO for the Asia-Pacific region – a newly-created position. He was previously regional CEO of Asia for agency broker Instinet, Chi-X Global’s parent firm.
In his new role, Marchal will be responsible for the expansion of the Chi-X platform in Asia. He will report to Tony Mackay, CEO of Chi-X Global.
“Joe has a deep knowledge of market structure in Asia-Pacific and his business contacts in the region are extensive,” said Mackay in a statement. “Investors in Asia-Pacific are eager for the market efficiencies brought about by platforms such as Chi-X, and we believe that Joe is the ideal leader to bring our advanced trading platform to the region.”
Chi-X Global has also appointed Peter Fowler and Jason Keady as COO and director of markets and operation at Chi-X Australia, respectively. Both will report to Marchal.
Following Marchal’s departure from Instinet, the broker has reshuffled its Asia-Pacific management structure. Nick McDonald, managing director of Instinet Singapore, and Joji Watanabe, head of sales for Instinet Japan, will become co-heads of equities for Instinet in Asia, in addition to their current roles.
Joel Noell will become branch manager of Instinet Japan in addition to his role as COO. John Fildes will continue his roles as managing director of Instinet Pacific in Hong Kong and Instinet Australia Clearing Services in Australia, and his responsibility for new product development in the Asian region. Julie Chew will retain her position as CFO for Instinet Asia-Pacific. All will report directly to Instinet co-CEO Fumiki Kondo.
Instinet has also announced several other moves at its Asia-Pacific operations. Christian Chan, head of electronic trading, has relocated to Hong Kong from Tokyo. John Sturges has been named co-head of Japanese equities at Instinet Japan, while Dean Kimpton will join the firm’s Japanese operations as a senior sales trader. Mark Brady will take up a position on the firm’s Asian DMA sales team, based in Hong Kong, and Anthony Bowyer has joined the broker’s Singapore-based sales group.
“We see Asia-Pacific as a key market for Instinet’s growth given the region’s increasing focus on advanced trading technologies and the unbundling of research from execution – two trends that play very well into our agency-only model,” said Kondo in a statement. “We fully expect these new additions to help us continue to grow our Asia-Pacific business.”