Maddy Davies has joined BlackRock following almost two years as a trader within Liontrust Asset Management’s multi-asset trading team.
Liontrust and BlackRock declined to comment when approached by The TRADE.
Last year, Davies was recognised as one of The TRADE’s Rising Stars of Trading and Execution 2024.
Davies joined the firm from Northern Trust in July 2023, where she had spent two years working across various departments.
During her tenure she served in roles including as a capital markets analyst, working with the equity trading and sales trading, integrated trading solutions, and transition management departments.
Read more: The TRADE sits down with Liontrust Asset Management’s Maddy Davies
In January this year, a trading update seen by The TRADE confirmed that Liontrust was exploring an outsourced trading arrangement with BNY.
Specifically, the trading update said that the asset manager was exploring “deepening” its existing strategic relationship with BNY for its non-UK activity.
Speaking at the time in its trading update, Liontrust said: “As part of our ongoing commitment to enhancing operational efficiency, it is proposed to deepen our strategic relationship with BNY by using its Buyside Trading Solutions for our trading capabilities.
“This collaboration will allow us to extend our trading capabilities beyond UK trading hours and access more counterparties, with a solution that is scalable and with a partner that is investing heavily in its trading services to ensure that it remains cutting edge.”
The news of Liontrust’s potential outsourcing of its trading follows a swathe of similar activity wherein a growing number of firms have turned to outsourced trading providers for either part – or all – of their trading activities.
Read more: Beyond the Data – A shift from co-sourced to full outsourced trading could mark a new frontier
Recent movers include: Avanza Fonder outsourcing to Northern Trust, Artemis also outsourcing to Northern Trust, and Goldman Sachs who in March 2024 agreed a deal with BNY which would see them handle their Asset Management global trade execution services across EMEA, the US and APAC in fixed income, FX, derivatives and ETFs.