Turquoise, the London Stock Exchange’s multilateral trading facility, has promoted Natan Tiefenbrun to CEO following the departure of Adrian Farnham to the London Metal Exchange.
The move is expected to maintain the course of the company’s strategy, as Tiefenbrun has worked in a number of senior roles within Turquoise and the London Stock Exchange Group, the most recent being head of product, equity and derivatives markets.
Speaking of the appointment, David Lester, chairman of Turquoise, thanked outgoing CEO Farnham for his contribution to the company since its inception, and said Tiefenbrun would bring strong skills to the job.
"Natan has an in depth understanding of capital markets and has been instrumental in Turquoise's growth to date. I am very pleased that he has accepted the role of CEO of Turquoise as we look to continue to offer customers choice and flexibility in pan European equities and derivatives trading,” Lester said.
Turquoise was established in 2008 by nine major investment banks, and in 2010 the LSE Group took a 60% stake in the company, with the remainder of the equity held by the founder banks and three additional sell-side firms.
Farnham was previously COO of the company and was elevated to CEO after a management reshuffle which saw his predecessor David Lester take the role of chairman.
Farnham has been appointed COO of LME Clear, the commodity exchange’s clearing arm.