Plato Partnership has named three new founding members, namely Kepler Cheuvreux on the sell-side through its execution activity, and UBS Asset Management and Pictet Asset Management on the buy-side.
Plato Partnership stated that the new founding members’ participation marks a milestone in the company’s mission to bring greater efficiency and innovation to all areas of the European equity marketplace.
“The work done by Plato Partnership is a cornerstone of improving the marketplace. We are committed to sustainable outcomes with the aim of driving long-term performance and positive impact beyond returns,” said Lynn Challenger, global head of trading and order generation and managing director at UBS Asset Management.
“Our values align closely with that of Plato, and we are delighted to be a part of the Partnership as we pursue our shared goal of securing the future of financial markets.”
Challenger was recently added to Plato’s board of directors, bringing over 25 years’ experience in capital markets, multi-asset trading, technology, best execution and investment operations. His appointment followed that of Salvador Rodriguez, who was named sell-side chair earlier this year.
“Since our inception, Kepler Cheuvreux has been built on research and partnerships as its foundations,” said Chris McConville, global head of execution services and trading at Kepler.
“Plato Partnership’s commitment to a strong academic base while fostering open communication and dialogue between all parts of the marketplace are vital for the health of all financial services, and we are excited to start contributing to this mission.”
The three new founding members will participate in setting Plato’s agenda to provide solutions and efficiencies to today’s equity marketplace in an attempt to improve market structure for the benefit of all market participants.
“Pictet Asset Management have a robust and progressive approach to providing best execution on behalf of our clients,” said Edward Atkins, global head of equities trading at Pictet Asset Management.
“Plato Partnership provides an opportunity to collaborate with our peers and contribute to making the marketplace better for all participants.”
Speaking on the addition of the new founding members, Plato’s chief executive, Mike Bellaro, added: “We are delighted to welcome these three leading financial institutions into the Plato fold. Their experience and expertise in the European equities marketplace will prove invaluable as we seek to broaden the scope and scale of the partnership.
“We face a tough time in all financial markets, and only through better communication between buy-side, sell-side and venues coupled with strong academic research can we find the best solutions to the challenges we face.”