Liquidnet has announced the appointment of Jeffrey Crane as Head of International in the Americas. This move strengthens the company's cross-border trading capabilities, which currently span 57 global equity markets.
Liquidnet Appoints Crane to Lead International Business in Americas
Crane brings over 20 years of experience in institutional equity trading to his new role as the technology-driven agency execution specialist. He joins the firm from SageTrader, where he served as managing director and Head of Sales, overseeing domestic and international trading growth. Previously, Crane spent more than two decades at Instinet, managing the company's cross-border business as Head of their International Desk in New York.
“I look forward to working with the team at Liquidnet to enhance our international trading capabilities further and deliver exceptional value to our clients,” commented Crane. “With its global footprint, expertise in block trading, agency model, and a 20+ year track record in delivering innovative trading solutions, we have all the necessary ingredients to offer buy-side traders the ability to trade anywhere in the world."
In his new position, Crane will be based in New York and report directly to Alan Polo, Head of Equity Sales and Trading, Americas. He will support Liquidnet's established international cross-border team, assisting clients with live trading in international markets through low-touch and block trading capabilities, as well as managing overnight order execution through global desks.
“Jeffrey’s extensive expertise and insight,” added Alan Polo, Head of Equity Sales and Trading at Liquidnet Americas, “his deep understanding of the global trading landscape and his proven track record in managing complex trading operations will be invaluable as we enhance our services and expand our market presence.”
This is another executive move for Liquidnet announced this month, following the addition of Tim Cunningham to the team last week. Cunningham, Marex's former Director, has previously worked with Saxo Bank and Societe Generale. At Liquidnet, he will serve as Managing Director of Outsourced Foreign Exchange Trading and Sales.
Recent Results
Liquidnet's cross-border team facilitated nearly $100 billion in notional trades across the Americas, EMEA, and APAC regions last year. The company recently expanded its geographical coverage to include direct access to MENA countries, bringing its total number of global equity markets covered to 57.
As a TP ICAP Group plc subsidiary, Liquidnet continues to play a significant role in connecting buyers and sellers in wholesale financial markets, providing broking services, trade execution, and data analytics solutions.
TP ICAP published its latest activity report in mid-May, showing a 3% decline in revenues for the first quarter. The Group's total revenue for Q1 2024 stood at £570 million. In the case of Liquidnet, revenues fell by 4%. The Cash Equities business, the largest segment of the division, experienced 7% growth in Q1 2024, continuing the momentum from late 2023. Despite this growth, Agency Execution saw a decline in revenue following the record highs of March 2023, which were fueled by favorable market conditions also benefiting Global Broking.
