Plato Partnership Limited, a not-for-profit company bringing solutions and efficiencies to today’s equity marketplace, announced the appointment of Mike Bellaro as its new CEO following a comprehensive search process. Mike Bellaro will commence his new duties with immediate effect.
The appointment of a Plato CEO enables Plato Partnership to move to a dedicated leadership model and enables significant drive and focus to identify key market issues and opportunities to improve equity market structure and develop solutions in cooperation with industry providers such as our key partnership with Turquoise. Plato selected Turquoise, a pan-European MTF, as its preferred partner in 2016 and the two organisations have subsequently worked together on various initiatives that benefit all participants, including Turquoise Plato Block Discovery, the leading European block trading mechanism.
Plato Partnership has also announced Christoph Hock, Head of Multi-Asset Trading, Union Investment as the buy-side Chairman of Plato Partnership with immediate effect. Christoph Hock will work alongside Plato Partnership’s sell-side Chairman, Nej Djelal (Head of Electronic Equites, EMEA, Barclays) to support Mike Bellaro in the governance and leadership of Plato.
Nej Djelal, Head of Electronic Equities Product, EMEA, Barclays & Plato Partnership Co-Chair, commented:
Today it is my honour to announce that Plato Partnership is moving to the next level in the appointment of Plato’s new CEO, Mike Bellaro. Mike’s extensive industry expertise, renowned stewardship, and illustrious ability to innovate over many years positions him perfectly to lead Plato Partnership into this new era. Equally, we are delighted to announce Christoph Hock as the new Co-Chairman of Plato Partnership. Christoph’s deep industry network, significant understanding of markets and cross asset mandate lays the foundation for tremendous potential in Plato Partnership’s next chapter.
Plato Partnership has already contributed significantly to European Equity markets by delivering solutions and funding independent academic research to simply market structure and reduce industry trading costs. Such progress is reflected by the success of Turquoise Plato and the formation of the academic network with Imperial College Business School. What’s more we know achievements to date represent only the tip of the iceberg, with so much more to come.
Robert Barnes, CEO Turquoise, added:
I’m delighted to congratulate Mike and Christoph on their respective new appointments as CEO and buy-side Chairman. Through Turquoise’s cooperation with Plato Partnership, we have a strong track record of working with the market to deliver innovative, MiFID II-compliant solutions to achieve best execution. We look forward to continuing our collaboration with Mike, Christoph, Nej and Plato’s members to further develop and build on the success of innovations including Turquoise Plato Block Discovery and Turquoise Lit Auctions.
Mike Bellaro, CEO, Plato Partnership, shared:
As we enter into perhaps the greatest period of change in trading history, Plato has a unique opportunity to shape the market structure design of tomorrow with a number of initiatives to be announced in the coming months. It is an immense honour and a privilege to be appointed CEO of Plato Partnership, and I am thankful they have given me the opportunity to continue developing the proposals I initially helped shape in my previous role as buy side co-chair.
I am also delighted to welcome Christoph Hock to the leadership team – I have known him for a number of years and I know he shares Plato’s passion for delivering creative solutions and efficiencies for today’s equity marketplace – reducing costs, simplifying market structure and acting as a champion for end investors.
On a personal level, I am particularly looking forward to continuing our relationship with Turquoise as an important strategic partner and deepening our relationship with Imperial College London; coordinating the industry’s efforts to give back to market participants and end investors through accessible and independent academic research.
Christoph Hock, Head of Multi-Asset Trading, Union Investment & Plato Partnership Co-Chair, concluded:
It’s a privilege to work as Buy-Side Chair of Plato Partnership and I look forward to working with Mike, Nej and the Plato Partnership member firms in our efforts to reduce trading costs, simplify market structure and champion the needs of end investors. I am excited to help Plato Partnership bring the buy-side and sell-side closer together and to work with their extensive network of platform providers, exchanges and venues, regulators and academics.