Stock market operator Euronext hires UBS ‘Novelli as new chairman

FILE PHOTO: The Euronext logo is seen in the finance and business area La Defense in the middle of the outbreak of coronavirus (COVID-19) in Paris, France, 10 November 2020. REUTERS / Benoit Tessier

PARIS (Reuters) – Euronext has hired Piero Novelli, co-chairman of Swiss bank UBS, to become its new chairman, the pan-European stock market operator said on Wednesday.

Novelli has been co-chair of UBS Investment Bank and a member of UBS ‘Executive Board since October 2018, Euronext said, adding that Novelli has also advised many Italian companies on major trades.

Euronext, which aims to complete its € 4.3 billion ($ 5.22 billion) acquisition of Borsa Italiana from the London Stock Exchange in the first half of 2021, reported higher-than-expected revenue earlier this month.

Growing income from listings, trading and clearing activities after some acquisitions helped to increase the company’s annual number.

Data released this month also showed that Euronext’s Amsterdam hub had displaced London as Europe’s largest stock trading center after Britain left the European Union’s single market following the Brexit agreement.

(This story has been reformulated to correct typographical errors and stock ticker references for UBS in Section 1)

Reporting by Sudip Kar-Gupta; Clip by Kim Coghill and Sherry Jacob-Phillips

Spread the love
[ Sharing is Caring! ]

More Tags We Love

travel medical insurance for covid how to find the cheapest insurance rates what is california low cost auto insurance is direct line good for home insurance minimum coverage auto insurance florida how much do you pay a month for auto insurance average monthly auto insurance rates by age top auto insurance companies in canada how to get cheap health insurance in california insurance companies in canada top 10

This div height required for enabling the sticky sidebar