NEX Group’s post trade division, NEX Optimisation, is seeing a change in its leadership at the highest level. Jenny Knott has opted to step down as the division’s CEO, paving the way for the appointment of Ken Pigaga to the new lead role with immediate effect.
Ms. Knott originally joined the group back in 2015. Her tenure with ICAP, now NEX, saw her manage and develop the group’s post trade, risk and information businesses into a fully integrated division with a single, unified operating model. Despite only being in the role for two years, she largely reshaped the unit, staffing it with a veteran team.
Under her leadership, NEX Optmisation rolled out a series of solutions, adopting a more client-centric structure. Michael Spencer, CEO of NEX, commented: “Jenny joined NEX with a mandate to transform our post trade division, future-proofing it to take advantage of the many opportunities that the changing regulatory landscape and rapid technological advancement afford to NEX. In her time with us she has evolved our client strategy and implemented a simpler and more unified operating model, identifying and adopting new and emerging technologies. Jenny’s significant contribution will have an enduring impact on the business and we wish her every success for the future.”
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New CEO appointment
In her stead, NEX will be relying on a familiar face to help manage the group. Mr. Pigaga originally joined ICAP back in 2006. Over the next decade he worked as the Chief Operating Officer (COO) of its Americas and then global unit. Within NEX Optimisation, he has worked as its COO since the beginning of the year.
The transition will take place immediately. However, Ms. Knott will remain with the group for a short while to help ensure a stable transition. Mr. Pigaga will also retain his role as Director of the NEX Board.
His COO responsibilities will be ceded to Sam Wren, Group Chief Financial Officer (CFO) of NEX, who will assume the position of Global COO, in addition to her role as Group CFO.
“Ken has worked closely with Jenny as part of the NEX Transformation programme and is ideally placed to assume the role of CEO of NEX Optimisation. Ken’s experience leading complex change-management programmes will help us deliver on the financial aspirations and cost savings identified, while his experience managing technology functions will allow us to execute the roll-out of NEX Infinity to our clients,” explained Mr. Spencer.
“I am proud of the achievements of the NEX Optimisation leadership team. In just over two years we have transformed ourselves to transform the industry. From Sweden to Tel Aviv, my talented colleagues will continue to work with clients to solve industry-wide challenges and help them grow their businesses. Having redesigned NEX Optimisation, it is now time to let them execute on the new structure and for me to pursue new entrepreneurial opportunities,” reiterated Ms. Knott in a parting statement.