Luminex – the trading venue launched by an asset management consortium including BlackRock, Fidelity, Invesco and JPMorgan Asset Management – has announced its new president.
Jonathan Clark, the current co-head of equity trading Americas at BlackRock, will join the group on 1 August 2015 and report to Michael Cashel, the interim chief executive officer of Luminex.
In a statement to the market, Cashel said: “We are confident under his leadership, Luminex will become an attractive option for investment managers, delivering an efficient, competitively priced and more transparent trading experience.”
Clark has more than 20 years’ experience in the industry, having held numerous senior portfolio management roles at BlackRock, having previously worked at Merrill Lynch Investment Managers until it was merged into BlackRock in September 2006.
Prior to that, he had worked at MLC Investments, Bankers’ Trust and Salomon Brothers.
Speaking about his new role, he said: “Luminex is an innovative and advanced trading technology platform that is well-positioned to address the challenges of sourcing block liquidity and delivering lower costs to investment managers. I look forward to working to harness its potential.”
Luminex was launched in January of this year, with Fidelity as the main shareholder, with 60 per cent of the business.
The consortium of companies that were announced at launch includes BlackRock, Capital Group, MFS, Invesco, T Rowe Price, JP Morgan Asset Management, State Street and Bank of New York Mellon.
The venue is due to begin trading late in the third quarter of 2015, according to today’s statement.