Liquidnet, a buy-side focused crossing network, has appointed Richard Gray as head of its European trading desk.
Gray joins from Pipeline – a rival block crossing platform that is due to launch in Europe later this month – where he was European head of sales and client services. He will replace Drew Miyawaki, who was appointed as head of the European trading desk at Liquidnet in March last year. Miyawaki has joined US-based broker Knight Capital’s global program trading division in Europe in a sales and trading capacity.
In his new role at Liquidnet, Gray will be responsible for overseeing the firm's trading desk in London, with a focus on business development, continued growth of trading volumes and expansion of its trading desk to Asia.
Liquidnet allows buy-side firms to negotiate large orders anonymously between themselves. Its agency-only trading desk provides order handling and execution services to buy-side clients, helping them execute flow against Liquidnet's liquidity pool and its Supernatural liquidity from streaming liquidity participants, which includes a number of leading brokers and multilateral trading facilities.
Gray, who has also held roles at buy-side firm Schroder Investment Management, hedge fund sponsor Millgate Capital, and Société Générale Corporate & Investment Banking, will report to John Barker, head of international at Liquidnet. Gray has also served as a member of the institutional investor panels of market operators the London Stock Exchange, Deutsche Börse and NYSE Euronext, as well as on the trader panel of UK buy-side trade body the Investment Management Association.
Barker said, “Having spent 17 years at Schroder Investment Management, where he rose to head of trading means Richard is uniquely equipped to understand the demands from buy-side investors, and can identify the threats and opportunities of the changing market landscape, as well as the opportunities offered by Liquidnet to our customers.”
“I am delighted to be joining the team at this exciting time,” added Gray. “Liquidnet has firmly established itself as the leading institutional equities marketplace and in my new role I look forward to supporting the team expand across the globe and helping to serve Liquidnet's buy-side members to navigate the changing market landscape.”