Parsons currently serves as Instinet Europe’s Head of Sales & Trading. He will succeed current CEO Adam Toms, who is stepping down to pursue other interests.

“Adam successfully led the European business for the last four years, delivering significant increases in market share and profitability. We are grateful for his many contributions, and we wish him the very best in his future endeavors,” said Instinet Incorporated CEO Jonathan Kellner. “Richard is exceptionally well suited to lead Instinet Europe forward having served as a key member of our management team for more than 13 years.”

Commenting on his appointment, Mr. Parsons said, “I am extremely excited to be taking on this new role. Under Adam’s leadership, Instinet’s European franchise has ranked first in customer order book volume on the London Stock Exchange and now ranks in the top three for European customer business. The market landscape will continue to change dramatically in Europe ahead of MiFid II. I firmly believe that Instinet is particularly well positioned to serve clients as a leading agency execution broker.”