Bats Chi-X Europe, the largest pan-European equities market operator by market share and notional value, today announced that Adam Eades and John Woodman have joined its board of directors (1) as executive director and independent non-executive director, respectively.
With the additions, the BATS Chi-X Europe board now stands at seven members, including Mark Hemsley, who remains executive chairman and chief executive officer. BATS Chi-X Europe is part of BATS Global Markets.
Mr. Eades serves as head of regulatory and legal affairs for BATS Chi-X Europe. He assumes the executive board position held by Chief Operating Officer Paul O'Donnell who will depart the company in August, as previously announced. Mr. Eades joined BATS Chi-X Europe in November 2011. Most recently, he was general counsel for Henderson Global Investors and spent 14 years at LIFFE (now NYSE Liffe) and NYSE Euronext where he held senior executive positions in European and global legal affairs.
Mr. Woodman most recently served a four year tenure as non-executive director and subsequently chairman of the board of Chi-X Europe Ltd., which was acquired in November 2011 by BATS Global Markets, and is currently a member of the FSA Regulatory Decisions Committee. Mr. Woodman was one of the founders of Efficient Frontiers, a consulting firm specializing in capital markets, and has previously held executive roles at UBS and Knight Securities.
"We are pleased that Mr. Eades and Mr. Woodman have joined our board of directors, with both bringing a wide range of experience in markets regulation and corporate governance," said Mr. Hemsley.
"Adam ably guided us through the legal and compliance transition following the Chi-X Europe acquisition and has been an invaluable addition to the team. John, in addition to a distinguished career, is a respected industry leader bringing significant board experience to guiding the management of a pan-European trading platform, as we evaluate new business opportunities and navigate a changing regulatory landscape," he said.
BATS Chi-X Europe reported 24.5% overall European market share in June 2012. The company completed a seamless migration of the Chi-X Europe platform to the BATS technology on 30th April.
1) Board of directors refers to both the board of BATS Trading Ltd and the board of Chi-X Europe Ltd. BATS Trading Ltd and Chi-X Europe Ltd operate under the brand name BATS Chi-X Europe.