The former operating chief for Europe at MarketAxess has been appointed CEO of Algomi following the departure of co-founder Stu Taylor earlier this year.
Scott Eaton has taken over the role with immediate effect and will focus on developing Algomi’s fixed income services, including data aggregation and the Algomi ALFA market surveillance tool.
Prior to MarketAxess, Eaton was global head of emerging markets trading at UniCredit and held various senior roles in credit trading structuring at ABN AMRO, RBS, Deutsche Bank and UBS.
“The opportunity to lead an innovative firm like Algomi through a significant period of both growth and product development is extremely exciting,” Eaton commented.
“What I have seen so far in conversations with the team has been very impressive, particularly the work around Algomi ALFA. I look forward to all of us working with our clients to take Algomi to new heights.”
His appointment follows the departure of former CEO and co-founder of Algomi, Stu Taylor, who left the firm April this year to spend time with his family.
Algomi suffered a £15 million loss in the 18 month to December 2016, although gained significant investment from major market players including S&P Global, Euronext and AllianceBernstein in 2017.
Taylor said at the time of his departure that he left the business with committed funding and a fully developed product set.
“[Eaton’s] arrival marks a new chapter in the Algomi story,” added Usman Khan, also co-founder and chief technology officer at Algomi. “This appointment is a vote of confidence in the long-term strategy of the board as the company approaches the next stage of its growth.”