Industry veteran Dr Robert Barnes is set to step down as the CEO of London Stock Exchange Group’s (LSEG) Turquoise at the end of this year, The TRADE can reveal.
He will depart from LSEG’s MTF after serving as its chief executive officer for the last nine years.Barnes joined in 2013 to replace Natan Tiefenbrun following his departure for Bank of America Merrill Lynch.
During his tenure at the helm of the pan-European trading platform, Barnes has built out Turquoise, adding initiatives such as the agreement with the Plato Partnership to rebrand its block trading and uncross services, a relationship which has facilitated over €1 trillion in equities traded.
Barnes is one of the most recognisable figures in European equities trading and was a nominee for The TRADE’s inaugural Industry Person of the Year at the Leaders in Trading awards.
It is not yet know where his next move will be or who will replace him. LSEG confirmed his departure but declined to comment further.
Barnes was the founding CEO of UBS MTF and upon his departure first stated he would establish a specialised advisory boutique.
Under his tutelage, UBS MTF became the largest dark MTF in Europe, competing against fellow leading venue the CXE dark pool, operated by BATS Chi-X Europe.
He also previously sat on the Securities Trading Committee for the London Investment Banking Association, serving as chairman from 2004-2009.