Former UBS dark pool boss Robert Barnes will run pan-European multilateral trading facility (MTF) Turquoise “imminently”, the venue has confirmed.
Barnes’ appointment comes after former London Stock Exchange-owned Turquoise CEO Natan Tiefenbrun announced last month he would step down to join Bank of America Merrill Lynch.
As the former CEO of UBS MTF and managing director of equities at UBS, Turquoise said in a statement he had extensive experience and market knowledge suitable for the role.
Barnes holds a PhD from Cambridge University and a BA from Harvard University. He also previously sat on the Securities Trading Committee for the London Investment Banking Association, serving as chairman from 2004-2009.
He is expected to join Turquoise in the coming weeks, pending Financial Conduct Authority approval.
David Lester, chairman of Turquoise Holdings, said: “I am delighted to welcome Robert as the new CEO of Turquoise. Robert is a highly regarded senior executive, with extensive industry and market experience and expertise.”
Barnes was the founding CEO of UBS MTF and upon his departure first stated he would establish a specialised advisory boutique.
Under his tutelage, UBS MTF become the largest dark MTF in Europe, competing against fellow leading venue the CXE dark pool, operated by BATS Chi-X Europe.