With its agency model, advanced electronic platform and well-deserved reputation for trading excellence, Instinet provides a unique value proposition to the buy side,” said Toms. “I am extremely excited to join its talented group of employees in Europe as we work to build upon Instinet’s considerable legacy.” The move is something of a surprise as most market watchers had anticipated Instinet to be rolled into parent Nomura’s equity trading franchise, encased in Nomura International; moreover the agency trading model has undergone a testing period of late. However, Toms is a very high profile trading business leader and will undoubted bring a harder edge to the Instinet business. It will be interesting to see what he does with the Instinet brand.
Toms served as managing director; co-global head of electronic trading at Nomura International, where he successfully led the integration of the Lehman’s trading business into the Japanese major. When he first joined Nomura following its acquisition of the European assets of Lehman Brothers, he headed up the firm’s European Portfolio and Electronic Sales Trading desk. Prior to that, Toms was an Equity Trader at Barclays Global Investors in London.
Toms will succeed Richard Balarkas, who will leave the firm to pursue other interests. “Over the past four years, Richard has effectively steered Instinet Europe through myriad challenges amidst difficult market conditions. We thank him for his many contributions during that time, and wish him all the best in his future endeavours,” says Kondo.