Turquoise, the multi-lateral trading facility (MTF) being established by nine investment banks, reported on Monday that Duncan Higgins has been appointed head of client relationship management.
Higgins will lead the client coverage, marketing and communications functions for Turquoise. He will report to Eli Lederman, CEO.
Higgins joins from UBS, where he was an executive director within the client trading and execution business. He has been working on the Turquoise initiative since its inception, having represented UBS on the Turquoise steering committee prior to the appointment of Lederman as CEO.
The firm has also announced that Adrian Farnham will serve as COO.
Farnham joins from Morgan Stanley where he was an executive director in operations, overseeing strategic projects. He had been seconded to Turquoise for most of 2007 as acting COO, and now joins formally in this capacity. Farnham, the chief architect of the Turquoise clearing solution, will oversee market operations and overall programme management for Turquoise.
“These appointments show our resolve that Turquoise will meet the market’s expectations," says Eli Lederman, CEO, Turquoise. "We are making progress towards our 2008 delivery. Higgins and Farnham will ensure that we launch on schedule with a wide network of participants, smooth market operations and first-rate client service. Both of them bring experience and industry knowledge to the team and I’m looking forward to working with them,” adds Lederman.