LSE names Kevin Milne director, post-trade services
18 January 2010 | 10922 views | 0
The London Stock Exchange has named former Xtrakter CEO Kevin Milne as director of its post-trade services division.
Reporting to LSE CEO Xavier Rolet, Milne takes up the role today, charged with "driving the growth and diversification" of the post-trade unit, which is one of the exchange's three main divisions.
Milne returns to the LSE - where he started his career in finance during the Big Bang era - with more than 20-years experience in the post-trade arena working with firms such as Thomson ESG, Omgeo, McGregor, SS&C Technologies and the International Capital Markets Association where he became CEO of Xtracter. He revealed his intention to resign his position at Xtracter, which was acquired by Euroclear last year, in December.
He now takes on the LSE role, replacing Massimo Capuano, who continues as CEO of Borsa Italiana, deputy chief executive of the group and head of legal and regulatory strategy.
Says Rolet: "We are delighted to welcome Kevin to the team. He brings a wealth of industry experience, which will add considerably to the strength of the Executive team and our ability to take advantage of new opportunities in the provision of market infrastructure and ancillary services."
The LSE has been engaged in negotiations to buy a stake in clearer EMCF, reflecting the growing importance of post-trade services to traditional execution venues as they look to diversify their revenue streams.
In its first half results, posted in November, the LSE revealed post-trade services accounted for 19% of group revenue. The division saw revenue up 16% on the same period the previous year, providing some relief from falling income from trading.