LMAX Exchange, an FCA regulated multilateral trading facility (MTF) for forex, has designated Patrick Bartle as the firm’s first Global Head of FX Strategy, in a bid to foster global client and volume expansion, according to an LMAX statement.
Mr. Bartle joins LMAX Exchange with a highly decorated resume, having served in previous leadership roles at ABN Amro, RBS, Credit Suisse First Boston, and Bank of America – including Board Memberships at CLS and EBS. He will be based out of North America, a locale LMAX has targeted for its growth prospects and consolidation of forex trades (estimated at 25%).
Bartle Draws Praise, Eyes North American Expansion
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In his newly created role, Bartle will aim to fortify an existing LMAX network that has reported triple-digit growth YoY and mounting exposure across 80 countries – London-based LMAX Exchange has been on the move lately with partnerships in Australia and even preliminary investigations into Bitcoin trading. Mr. Bartle will draw on his vast array of forex experience to also help bolster LMAX’s presence in the North American market.
According to David Mercer, CEO of LMAX Exchange in a recent statement on the appointment, “Patrick will be a major asset as we expand into the global FX marketplace. His depth of knowledge and experience within FX at the top level of global banks is exactly what we need to move beyond the proof of concept stage to global market leadership. With Patrick running our global FX strategy we expect to increase our growth rate, currently 20% per quarter, whilst continuing to provide an unrivalled combination of precision, consistency and transparency, especially through our growing Interbank offering.”
“In today’s environment the growing relevance of exchange-style execution in the FX marketplace cannot be understated. I am extremely impressed with both, the concept and the growth that David and the team have demonstrated over the past three years. This is an incredible opportunity to become a part of the LMAX Exchange team and to help drive the business forward in coming years,” added Bartle in an accompanying statement.