LMAX Group hired Ilya Khazen, a former executive at Goldman Sachs and Societe Generale, to lead cross-asset sales across the Americas, as the London-based institutional trading platform doubles down on the US market.

LMAX Names Khazen to Lead US Cross-Asset Sales

Khazen will work from New York in a newly created role, overseeing sales of LMAX's combined foreign exchange and digital asset products to institutional clients. He'll report to Chris Knight, who manages LMAX Digital, the company's crypto trading arm.

The hire comes as major banks and asset managers inch closer to active crypto trading, prompted by what LMAX sees as improving regulatory clarity in the US market. The company operates separate platforms for FX and digital assets but is pushing a unified offering to institutions.

“Ilya brings a wealth of both digital assets and traditional finance experience to LMAX Group and can hit the ground running as the world's biggest banks and asset managers ready themselves for active crypto engagement,” LMAX CEO David Mercer said in a statement.

Related: LMAX Group Enters FX Swaps with FX HedgePool Acquisition

From Goldman to LMAX

Before joining LMAX, Khazen served as Director and Co-Head of Sales at Copper Technologies, where he handled client relationships and revenue generation across North America. He previously held management roles at Goldman Sachs and Société Générale.

“I'm delighted to be joining LMAX Group to further build its cross-asset offering at such a critical juncture,” Khazen said. The executive highlighted LMAX's position in both traditional FX trading and institutional digital assets.

Some time ago, LMAX also appointed Luke Dorney to lead its digital asset custody growth strategy. Dorney, who previously held various roles at Blockdaemon, joined the group as Head of Custody.

Higher Trading Volumes

Trading volumes on LMAX Digital have shown strength recently, with the platform recording $5 billion in notional volume last week, up 60% from the previous week. The company has been vocal about seeing increased institutional interest as regulatory frameworks take shape.

The firm operates under multiple regulatory frameworks, including FCA oversight in the UK and Gibraltar Financial Services Commission regulation for its digital asset platform. LMAX runs matching engines in London, New York, Tokyo and Singapore, serving clients in over 100 countries.