Seth Merrin, Chairman and Chief Executive Officer of Liquidnet, the global institutional investment network, today announced that President Brian Conroy would take on the role of CEO as the company accelerates the launch of several new initiatives including its new data and analytics business.
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Brian Conroy, CEO of Liquidnet (Photo: Business Wire)
In his continuing role as Executive Chairman of the Board, Founder Merrin said he will focus on Liquidnet’s mid to long-term strategic planning, while Conroy will continue to lead the execution of all three Liquidnet business verticals: Equities, Fixed Income, and the newly created Investment Analytics.
“Brian came on board a year ago as part of our plan to deliver the capabilities that clients will need to compete in a market that’s undergoing yet another technology-driven transformation. He’s played an important role in the core investments we’ve made—and will continue to make—in technology that helps our clients identify and access market opportunities rapidly and efficiently in this new market environment. In 2020, we will focus on launching new technology solutions across Equities, Fixed income and our new Investment Analytics businesses that address our customer’s largest challenges,” Merrin said.
“Over six months ago, Brian took on the responsibility of managing all our businesses globally, with all units reporting to him, and Brian reporting to me. I couldn’t be happier with our progress and the strong partnership that Brian and I have developed. Now is the right time for me to formally recognize his role and responsibilities with the title of CEO,” he continued.
A 30-year veteran of the financial services industry, Conroy joined Liquidnet in February 2019 after a career at Fidelity Investments. He was the President of Fidelity International in London, after serving as President for Fidelity Capital Markets and Global Head of Equity Trading in Boston for FMR. He has also held senior roles at JPMorgan, Goldman Sachs, ABN AMRO and SAC LLC.
“Seth’s vision and commitment to innovation have created a significant opportunity for us in the years ahead,” said Conroy. “As CEO, my priority is to simultaneously grow our established businesses and capitalize on the investments we’ve made in solutions and services that help clients compete in this era of automation and data-driven investing.”
Earlier this year, Conroy appointed Vicky Sanders to oversee the Investment Analytics business. Built on Liquidnet’s 2019 acquisitions of Prattle and RSRCHXchange and the 2017 acquisition of OTAS Technologies, Investment Analytics combines a range of powerful AI-driven analytics, machine-learning, and natural language processing technologies. The new offering will enable institutional investment teams to analyze, filter, and organize data and pinpoint only the information needed to support information discovery and decision-making. The Investment Analytics app is currently in pilot with portfolio managers and analysts at Member firms in both the US and Europe and will launch later this year.
To bolster the US and Canadian equities team, Conroy has also brought in Matt Johnson to become Liquidnet’s Head of Americas Equities. Johnson brings twenty-five years of experience at top-tier investment banks as a senior trader and manager across multiple equity divisions. Before joining Liquidnet, Johnson was the Senior Managing Director at Guggenheim Securities responsible for Equities. Johnson will join Liquidnet’s Global Management Committee and report to Mark Pumfrey, Global Head of Equities.
In Boston, Conroy has appointed Jerry Garvey as the new head of the region and Steve Berte in sales and business development. Garvey brings over two decades of experience in equities sales and trading operations. He joins Liquidnet from Stifel Nicolaus where he managed the Boston Trading Desk and was an Equity Sales Trader for over ten years. Prior to that, he held similar roles at Merrill Lynch and Wachovia Capital Markets in Boston. Berte joins Liquidnet from Aberdeen Standard Investments. During his 10+ years at Aberdeen, he held several senior roles including Head of Investments Execution across all asset classes in the Americas and Global Head of Equity Trading based out of Scotland.
Conroy will continue to be based in New York at Liquidnet’s global headquarters.
Liquidnet is a technology-driven, global institutional investment network that intelligently connects the world’s investors to the world’s investments. Since our founding in 1999, our network has grown to include more than 1,000 institutional investors that collectively manage $33 trillion in equity and fixed income assets. Our network spans 46 markets across six continents and seamlessly connects institutional brokers, investment banks, exchanges, alternative trading venues, and a growing list of data and research providers. We built Liquidnet to make global capital markets more efficient, and continue to do so by adding additional participants, enabling trusted access to trading and investment opportunities, and delivering the actionable intelligence and insight that our customers need. For more information, visit www.liquidnet.com and follow us on Twitter @Liquidnet.
© 2020 Liquidnet Holdings, Inc. and its subsidiaries. Liquidnet, Inc. is a member of FINRA/SIPC. Liquidnet Europe Limited is authorized and regulated by the Financial Conduct Authority in the UK, is licensed by the Financial Sector Conduct Authority in South Africa and is a member of the London Stock Exchange and a remote member of the Warsaw Stock Exchange and the SIX Swiss Exchange. Liquidnet EU Limited is authorized and regulated by the Central Bank of Ireland. Liquidnet Canada Inc. is a member of the Investment Industry Regulatory Organization of Canada and a member of the Canadian Investor Protection Fund. Liquidnet Asia Limited is regulated by the Hong Kong Securities and Futures Commission for Type 1 and Type 7 regulated activities and is regulated by the Monetary Authority of Singapore as a Recognized Market Operator. Liquidnet Japan Inc. is regulated by the Financial Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet Australia Pty Ltd. is registered with the Australian Securities and Investment Commission as an Australian Financial Services Licensee, AFSL number 312525, and is registered with the New Zealand Financial Markets Authority as a Financial Service Provider, FSP number FSP3781. Liquidnet Singapore Private Limited is regulated by the Monetary Authority of Singapore as a Capital Markets Services Licensee, CMSL number CMS 100757-1.