Instinet Incorporated announced the naming of Jonathan Kellner as CEO of the electronic brokerage firm. Prior to his CEO appointment, Kellner served as head of Instinetâs Americas businesses. He replaces Fumiki Kondo, who has been named head of Nomura Asset Managementâs overseas client division in Tokyo.
âInstinet is an integral part of the strategic ambitions we have for our equities franchise, particularly given the ongoing shift of client assets into equities globally,â stated Naoki Matsuba, co-head of Nomuraâs Global Markets division and chairman of Instinet Incorporated. âWeâre very pleased to name Jonathan as CEO of Instinet and leverage his leadership skills and market expertise in a global capacity,â added Matsuba.
[Budgets and technology specifications are only part of an technology leader's responsibilities. Managing an IT workforce might be the most challenging aspect of any executive's job. Attend the Humans Arenât Computers: Effective Management Strategies for IT Leaders session at Interop 2014 in Las Vegas, March 31-April 4 to learn new management techniques.
You can also REGISTER FOR INTEROP HERE.]
In a statement, Kellner commented: âInstinet has long been one of the worldâs preeminent providers of electronic brokerage services, and with the role we now play within the Nomura Group, our relevance to the buy side has never been greater. Iâm extremely excited to be taking on this position at this point in the firmâs history.â
Kellner joined Nomura Group in 2003 and moved to Instinet in 2007 following its acquisition of the company. Kellner previously held senor trading and technology positions at Charles Schwab, Investment Technology Group (ITG) and Morgan Stanley.
Instinet was acquired from a private equity firm for $1.2 billion in 2006. A pioneer in electronic trading, Instinet developed one of the first U.S. ECNs and more recently the Chi-X businesses in Europe and Asia. Like other brokerage firms, it has developed an advanced suite of trading tools and algorithms, which together with its high-touch trading group help institutions to lower their overall trading costs and ultimately improve performance
In 2012, Nomura Group moved to consolidate its equity execution services in Instinet to eliminate overlaps between the agency broker and Nomuraâs own traditional cash equities business which had been competing against each another for years.