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Chi-X names Joseph Marchal Asia Pacific CEO

19 November 2008  |  1295 views  |  0 Source: Chi-X Global

Chi-X Global, a holding company for the regional Chi-X trading platforms, today announced the appointment of Joseph Marchal as regional CEO for Asia-Pacific.

In this role, Mr. Marchal will be responsible for the platform's expansion in the region.

Mr. Marchal, who will report to Chi-X Global CEO Tony Mackay, joins Chi-X after having served as regional CEO of Asia for Instinet Incorporated, the parent company of Chi-X Global (see separate 19 November announcement).

"Joe has a deep knowledge of market structure in Asia-Pacific and his business contacts in the region are extensive," said Mr. Mackay. "Investors in Asia-Pacific are eager for the market efficiencies brought about by platforms such as Chi-X, and we believe that Joe is the ideal leader to bring our advanced trading platform to the region."

Added Mr. Marchal: "Chi-X has proven to not only lower trading costs for the investment community, but also increase overall liquidity in the market. We're confident that our model benefits all participants involved in the trading process, and are eager to continue our discussions with regulators in the region as we work to deliver Chi-X to investors in Asia-Pacific."

During his four years as regional CEO for Instinet, Mr. Marchal significantly grew the business and doubled the firm's market share in the region. Prior to Instinet, he served as Managing Director for Deutsche Securities Limited, a division of Deutsche Bank, where he was responsible for overseeing the Japanese Equity Sales Trading operation in Tokyo, London and New York. Mr. Marchal also spent time in senior positions in Asia at Nikko Salomon Smith Barney, Fidelity Investments and Daiwa Securities International. Mr. Marchal began his career in 1985 at Maruso Securities as a floor trader on the Tokyo Stock Exchange.

Additionally, Chi-X Global today announced the appointment of Peter Fowler and Jason Keady to executive roles in Australia. Both will be based in Sydney and will report to Mr. Marchal. Mr. Fowler has been named Chief Operating Officer of Chi-X Australia, with overall operational responsibility for the platformmm subject to the grant of relevant regulatory approvals, while Mr. Keady will serve as Chi-X Australia's Director of Markets and Operation, and will be responsible for implementing the client side aspects of the Chi-X Australia business plan.

Prior to joining Chi-X, Mr. Fowler founded Palion, a private firm which was acquired by OMX, followed by a senior role at GBST. Mr. Keady joins from the Australian Securities Exchange.

"We were drawn to Chi-X's proven technology and market model, which have already resulted in substantial cost reductions for investors in Europe and Canada," said Messrs. Fowler and Keady in a joint statement. "We are confident the same can be accomplished in Australia, making the market more attractive to the global investment community and ultimately increase the amount of liquidity available to Australian investors."
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