Turquoise, a pan-European multilateral trading facility (MTF) set to launch in September, has appointed a non-executive chairman to its board of directors. Peter Gibbs, a senior asset management executive, will take up the position on April 1.
In contrast to Turquoise’s shareholder base, which is made up of nine large sell-side institutions, much of Gibbs’ experience has been on the buy-side. He has held senior positions at Mercury Asset Management and Merrill Lynch Investment Management, where he was co-head of equities and chief investment officer for the international business.
He is currently chairman of trustees of the Merrill Lynch Pension Fund, and is a non-executive director of Evolution Group plc, a position he also holds at Impax Group, an AIM-listed asset management boutique.
“The shareholders and management of Turquoise attach the utmost importance to the integrity of our actions as a company and to our corporate governance. Peter’s background sends a clear signal that we intend to be resolute on these matters,” said Turquoise CEO Eli Lederman in a statement. “His distinguished career on the buy-side adds balance to our board and an important perspective to our developing business.”