Institutional block trading network Liquidnet has appointed two senior members to its EMEA team to build on positive early-year results as it grow its Continental Europe client base.
Julien Fougere was this week appointed head of trading coverage, EMEA, and will be responsible for developing Liquidnet’s buy-side institutional member relationships. He will report to Tony Booth, head of sales.
So far this year, Liquidnet has benefit from growth in institutional block trading in Europe. Results for Q1 show principal traded reached US$22.6 billion in Europe, a 64.7% rise from Q4 2012, and a 38% rise on Q1 2012 figures, which CEO of EMEA Mark Pumfrey has suggested is linked to an underlying stability within the region, despite issues such as the recent Cyprus banking crisis.
In December, Pumfrey said expanding the platform’s Continental buy-side base was a key element of his strategy.
“While the allocation to equities by investors remains low by historical measures we believe their risk appetite is steadily improving as is their desire to trade in large blocks with like minded investors,” said Pumfrey. “We are seeing the evidence of this in the growth of our European business in 2013.”
Liquidnet has also appointed Stuart Thompson as execution trader and he will work with the platform’s clients through its trading desk, with a focus on Liquidnet’s suite of algos.
“The appointment of both Julien and Stuart will help us to continue to expand our business and deliver our strategy, which focuses on helping our network of institutional investors achieve better performance by deepening our liquidity pools and opening up new investment opportunities around the world,” Pumfrey said.