Ex-Instinet CEO joins RSRCHXchange

Adam Toms has joined RSRCHXchange’s board alongside other industry veterans.

The former chief executive officer of agency broker Instinet has joined RSRCHXchange as a board member.

Adam Toms departed Instinet in May last year to pursue other opportunities within the financial sector after four years with the firm.

Former global head of research at UBS, Alan MacDonald, has also joined RSRCHXchange.

Don Guiney, senior capital markets partner at Freshfields and Michael McFagden, managing director of NEX Group’s Euclid Opportunities, will join Toms on the board at RSRCHXchange.

Euclid recently confirmed it had made a strategic investment in RSRCHXchange ahead of global expansion plans.

The investment was made in response to MiFID II’s unbundling rules which McFadgen said are a key challenge for NEX Group’s clients and the wider market in 2017.

“RSRCHXchange is bringing next generation technology to solve a complex regulatory challenge while also allowing both providers and consumers of research to extract greater value from content,” he said.

More than 1,000 asset managers and 190 banks, brokers and boutique research providers currently use the institutional research company.

Co-founder of RSRCHXchange, Jeremy Davies, recently explained: “The asset management community is on the cusp of unprecedented change as research and execution costs unbundle in less than 12 months when the MiFID II requirements come into effect.”