LMAX Exchange Group on Friday announced that is has appointed Roland White to the newly created position of Global Head of Institutional Sales. White will join the company on July 30, 2018, and will report to David Mercer, CEO of LMAX Exchange.
White will head the institutional sales team and be responsible for advancing the LMAX Exchange global growth agenda in the institutional segment. One of the ways this will be achieved is by deepening relationships with institutions across the world.
White joins the LMAX Exchange Group with 28 years of experience in the FX industry. His most recent position was Head of Electronic Foreign Exchange Sales at Commerzbank, which he held for eight years in London. There he grew and managed the international sales team, which he has also done for EBS, Cognotec, Reuters, Citigroup, and Standard Chartered. White also worked at FX brokers and trading desks and served as the Vice President of ACI financial markets association between 2002 and 2007.
According to the statement, LMAX Exchange CEO David Mercer said: “Roland is joining our team at exactly the right time. Demand for firm limit-order liquidity is ever increasing, and institutions want transparent, precise and certain execution. This is what we offer. To date, we have already garnered significant momentum in the institutional space globally and we expect our growth trajectory to continue. We are proud to count over 300 large funds and brokers in our global institutional client base.”
Mercer added that White’s wealth of experience, depth of knowledge and experience in the forex industry would be instrumental for LMAX Exchange as the company continues to gain traction among institutions globally.
White also commented on his new role: “this is an exciting time to be joining LMAX Exchange after its record performance year and the achieved traction to date in the institutional FX segment. I look forward to playing a key role in LMAX Exchange’s ambition to strengthen its market leader position and expand its institutional offering globally.”
The appointment of White follows the opening of LMAX Exchange’s institutional sales hub in Singapore.
The company is also in the process of expanding its sales coverage with multiple senior appointments across Asia Pacific and North America. As a result, the annual volumes from its institutional clients increased by 58 percent year-on-year in 2017.
LMAX Exchange is also increasing its product offering. In May this year, it launched the first institutional cryptocurrency exchange. The financial technology firm also posted record growth for 2017, as gross profit hit £25 million ($33.14 million).