Liquidnet, an institutional trading and equities network, has secured its latest appointee, adding Brian Conroy as its newest president – he will be based out of New York and steps into the role with immediate effect, according to a group statement.
Mr. Conroy joins Liquidnet following a career in the financial services industry that has spanned over three decades. Prior to this appointment, he served as president of Bermuda-headquartered asset manager Fidelity Worldwide Investment, which manages around $300 billion in assets.
Prior to that, Brian had taken on the role of president of Fidelity Capital Markets, which is the institutional trading arm of Boston-based Fidelity Investments.
Additional stops also include positions at JPMorgan, Goldman Sachs, ABN AMRO and SAC LLC, among others, dating back to 1987, according to information made public on his Linkedin profile.
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Conroy relocates to New York
The fixed income market is undergoing dramatic changes as the applicability of electronic trading across the sector has been much slower relative to the equity and forex markets, and in best cases is still largely limited to the most liquid parts of the market.
Reporting directly to Liquidnet CEO Seth Merrin, Conroy has relocated from London for the job. He will be responsible for overseeing Liquidnet’s growth, which will consist of building out new businesses organically and through acquisition, as well as expanding its buy-side member network.
Since launching in September 2015, Liquidnet’s community of fixed income asset managers has grown to 200 active firms, around 70 of which are in Europe, who have traded some 17,000 different ISINs to date. This growth has been fueled by members’ ability to trade in institutional size, with an average execution of $2.4 million.
According to Seth Merrin, Liquidnet CEO and Founder, in a statement on the appointment: “Liquidnet has brought a lot of innovation to the financial industry, and there is so much more we want to do. Brian thinks like we do, acts like we do, and brings a wealth of knowledge and experience that supplements our own. We are very excited and believe that Brian is uniquely qualified to lead our new businesses that address our Members’ largest focus, outperforming their benchmarks, and uncovering new sources of alpha generation.”
Brian Conroy also added: “As a global fintech that has fostered a network of over 1000 asset managers, Liquidnet has a unique position in the marketplace today. I am energized by the company’s commitment to delivering innovative technology that solves for large market inefficiencies. Liquidnet has a long history of partnering with the buy side to build long-lasting solutions together, and I look forward to joining the team.”