Instinet has hired a senior equity analyst from Citigroup as it looks to build out its internet research services.
Mark Kelley has been appointed executive director and lead analyst in New York, covering the US technology, internet, media and telecom (TIMT) group, focused mainly on internet stocks at the agency broker.
Kelley joins Instient from Citigroup, where he worked for more than two years as a vice president and lead analyst in the small and midcap internet group. Prior to that, Kelley held a similar role at Barclays Capital for almost four years and has also worked Sterne, Agee & Leach.
“We are thrilled to have [Kelley] join us to lead our internet research effort,” said Jeff Doherty, head of US equity content at Instinet.
“[Kelley’s] addition builds on our already well established TIMT franchise and his insightful research along with his dedication to client service will enhance the value we deliver in this strategically important sector.”
Doherty was appointed head of US equity content in January after joining the business following the migration of the equity research business from Nomura to Instinet in late 2016.
Instinet integrated the US equity research and research sales from Nomura into its cash equities platform to establish a multi-sector boutique research service.
Doherty was formerly a managing director and head of US equity research sales, and now oversees both the research and sales distribution business as part of his role.