Mr. Balarkas will be responsible for IELâs overall operations and business strategy and will jointly report to Fumiki Kondo, co-CEO of IELâs corporate parent Instinet, Inc., and IEL Chairman Tony Mackay, who has relinquished his day-to-day duties at IEL to focus on his role as CEO of Chi-X Global, Inc. Mr. Balarkas has more than 20 years of industry experience and joins Instinet from Credit Suisse, where he most recently served as global head of sales in its AES agency brokerage division.
âThere is currently an unrelenting focus in the equity markets on how the trading process can significantly impact fund performance,â commented Mr. Balarkas. âAs such, brokers are being selected primarily for their ability to provide best execution, a task which requires continuous investment in new and innovative trading services to complement more traditional services. I believe that the combination of Instinetâs unconflicted agency model, global reach and continued commitment to the evolution of more efficient market structures and advanced equity trading tools make us uniquely positioned to meet the needs of our clients.â
Mr. Triance, who joined Instinet in October 2007, also brings over 20 years of experience in the financial services industry, most recently as Managing Director of Securities and Fund Services for EMEA at Citigroup.
Finally, Mr. Corker, who joined Instinet in January, comes aboard after 12 years with Tullett Prebon, a FTSE 250 company and formerly part of Collins Stewart Tullett, where he most recently served as European CFO.
âThat a team with this depth of experience has decided to join Instinet is a testament to our business model and the momentum we have established over the past few years,â said Instinet, Inc. co-CEOs Anthony Abenante and Fumiki Kondo in a joint statement.