Turquoise confirms management line up

Turquoise confirms management line up

The new management team at Turquoise has been confirmed, with CEO David Lester joined by Baikal head of technology Mark Ryland.

After acquiring a majority stake in Turquoise earlier this year and outlining plans to merge it with the Baikal dark pool, the LSE put Lester in charge, ousting Eli Lederman and John Wilson, the respective CEOs.

Senior management positions have now been filled by staff from both parts of the business.

Ryland, a former SWX Europe COO, takes on the role of head of technology, the same position he held at Baikal. Adrian Farnham, who joined Turquoise in 2007 as COO from Morgan Stanley keeps the same role. Baikal commercial director Natan Tiefenbrun also keeps the same job title at the merged entity while Turquoise veteran Anthony Ball continues as CFO.

Says Lester: "I am pleased to confirm Adrian, Natan, Mark and Anthony in their new roles. They bring with them a wealth of experience from roles at the previous Turquoise and Baikal operations, and from backgrounds in the broader trading environment before that. I look forward to working with them in this exciting next phase of Turquoise's development, and am confident that together we will build an efficient operating unit which will deliver a range of pan-European products and services that clients want."

Earlier this week the LSE sold nine per cent of its 60% stake in the merged businesses to Barclays, JP Morgan Cazenove and Nomura, with each bank paying £1 million for a three per cent stake.

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