LONDON, Nov 20 (Reuters) - The Federation of European Securities Exchanges (FESE) on Wednesday named Christian Katz, chief executive of SIX Swiss Exchange, as its new president.
Katz, an investment banker with Goldman Sachs and JPMorgan before joining SIX in 2009, succeeds Nasdaq OMX Executive Vice President Hans-Ole Jochumsen in the post.
FESE represents over 40 securities exchanges in equities, bonds, derivatives and commodities from 30 countries, including Germany’s Deutsche Boerse, the Warsaw Stock Exchange and Spain’s BME.
Katz will be charged with fulfilling FESE’s three main objectives: promoting the work of Europe’s exchanges, fostering their global competitiveness and providing a forum for debate on capital markets.
With new rules on financial markets such as the second phase of the European Union’s Markets in Financial Instruments Directive (MiFID) almost finalised, Katz told Reuters his three-year presidency will be different from those before it.
In the past, FESE has lobbied authorities on a range of new regulations, including the financial transactions tax, which it argued could damage liquidity and push up the cost of capital.
“There will be more implementation and less lobbying. We want to be more on the cooperative side as opposed to pitched against different market players within financial markets, lobbying for different outcomes,” Katz said.
Katz said the biggest opportunity for Europe’s exchanges is in helping companies raise finances, stepping into a gap left by banks retreating from lending amid new capital requirements.
Encouraging more companies to list on stock markets could bring long-term benefits for the region’s economy, he said. “Europe needs more listed companies that create jobs, foster an entrepreneurial spirit, lead the market in innovation and create new investment opportunities - we think that is key.”
Katz will be assisted by Deutsche Boerse’s managing director in charge of cash markets Martin Reck, along with Mark MacGann, senior vicepresident and head of government affairs and public advocacy at NYSE Euronext, who were named vice presidents.