Instinet CEOs and chairman quit

Instinet CEOs and chairman quit

Interagency broker Instinet says its co-CEOs John Fay and Alex Goor have quit the firm and that its chairman Ed Nicoll has stepped down from his role.

Fay and Goor have quite Instinet, which was acquired by Nomura earlier this year, just four months after being appointed co-CEOs. In a statement Instinet says Fay and Goor "will leave to pursue other interests".

Fay's role was to direct Instinet's businesses in Europe and Asia as well as its finance organisation. Goor's role was to lead Instinet's North American business and technology operations.

They were appointed to replace former chief executive Ed Nicoll, who became chairman of the board. Instinet says Nicoll is to step down as chairman and will be replaced byHiromasa Yamazaki, the current head of global equity for Nomura group. The broker says it is in negotiations with Nicoll about a role as special advisor.

Fay and Goor will be replaced by Fumiki Kondo and Anthony Abenante.

Kondo joined Instinet in February 2007 following the Nomura takeover. He previously served as managing director of Nomura Securities. Abenante joins Instinet from Nomura Securities International where he has served as managing director responsible for US equity and global program sales and trading for the past four years.

Prior to this Abenante spent 10 years at Investment Technology Group (ITG), serving in several senior management roles, most recently as director of institutional Sales.

Instinet has also appointed Thomas Vogel as chief financial officer (CFO) and Kevin Farrell as chief administrative officer (CAO).

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