Euronext FX's CEO has announced that the Electronic Communication Network (ECN) for exchange trading has recently shuffled its executive team by appointing a new Head of Sales. Additionally, the company seized the opportunity to officially announce that at the beginning of the month, it appointed a new leader for its Singapore branch.
Euronext FX Welcomes Two New C-Level Executives
Nicolas Jégou, the CEO of Euronext FX, shared on social media that the company has promoted Stuart Parris to the new Head of Sales, who has been with the company for five years. Parris began his journey at the ECN in 2018 as the Sales Director in EMAA Sales to Asset Managers department.
Prior to joining Euronext FX, he worked at Brown Brothers Harriman, HSBC, and Bank of New York Mellon where he was responsible for FX Sales.
“I’m happy to share that I’m starting a new position as Head of Sales at Euronext FX,” Parris briefly commented on his LinkedIn.
Furthermore, Jégou informed that at the beginning of February, the former Sales Director of Euronext in Singapore, Wymann Shing, took over as the CEO of the local branch. Shing has been collaborating with Euronext FX since 2019, previously working at the Royal Bank of Scotland, FXAll, and Bloomberg, being involved in sales departments and FX.
“On top of being a well-deserved development for two outstanding professionals, I am delighted to see this as proof of the high quality of the FX team and an illustration of the internal career opportunities Euronext can offer,” concluded the CEO.
Euronext's Strategic Moves to Enhance Shareholder Value
In January 2023, Euronext, a leading pan-European market infrastructure, announced a €200 million share buyback program. This move signals Euronext's strong cash flow generation capabilities and commitment to disciplined capital allocation while maintaining its deleveraging path and investment grade credit rating.
Earlier, Euronext sold its 11.1% stake in LCH SA, a major clearing house, to LCH Group Holdings Limited for €111 million. Euronext initially acquired the stake in 2017 through a share swap deal with LCH Group. The sale is part of Euronext's buyback program and is expected to conclude in early July 2023.
Headquartered in the Netherlands, Euronext operates stock exchanges across Europe through subsidiaries. It expanded its European footprint by acquiring Borsa Italiana from the London Stock Exchange Group. The 2017 share swap deal saw Euronext trade its 2.3% stake in LCH Group for an 11.1% stake in LCH SA.
More recently, Euronext FX reported a total trading volume of $576 billion in January 2024, up from $550 billion in December 2022. Average daily volume rose modestly from $24.5 billion to $25 billion over the same period.
