John Lowrey, former European head of electronic trading at investment bank Lehman Brothers, has been appointed CEO of Chi-X Global, succeeding Tony Mackay. Mackay will become chairman of the entity, which is a holding company for the Chi-X trading platforms in Europe, Canada and Australia.
Mackay replaces Hiromasa Yamazaki, currently head of global equities at Nomura, Chi-X Global’s ultimate parent. Yamazaki will continue to serve as a director of Chi-X Global. Chi-X Global is 100%-owned by agency broker Instinet, which in turn is a subsidiary of Nomura.
Chi-X Global appointed Lowrey as part of its expansion plans. “The success achieved during the past two years, and the number of opportunities we currently perceive, demand a more advanced infrastructure than was required as a start-up enterprise,” a company spokesperson told theTRADEnews.com. “Tony will continue to provide his strategic contributions as chairman and John will add significant expertise and capacity in his role as chief executive officer.”
As well as the trading platforms, Chi-X Global also comprises Chi-Tech, a separately run unit that provides data management and trading technology to exchanges and financial firms. Chi-X established the unit following its purchase of data management firm Cicada in November last year. The firm is also looking to expand in Asia.
“We believe that there are tremendous opportunities for Chi-X globally, both in developing new market centers and in providing technological solutions to other trading venues,” Lowrey said in a statement.
Directly before joining Chi-X, Lowrey was managing director of Nomura International in the UK. He joined Nomura following its purchase of Lehman Brothers’ European and Asian operations last year. Lowrey has also served as head of European sales at US broker Knight Securities.
The management change at Chi-X Global closely follows a reshuffle at Chi-X Europe, where Peter Randall was replaced by interim CEO Mark Howarth. Randall stepped down for personal reasons, and remains an advisor to the firm.
Chi-X’s parent Nomura has also revealed a series of management changes. As part of this, Hiromasa Yamazaki will also become a senior corporate managing director at both Nomura and Nomura Securities, and take up the newly-created position of global markets deputy CEO.