Euronext appoints Piero Novelli as Chairman ahead of Borsa Italiana acquisition

Rick Steves

The experience and skills he developed from top roles at UBS Investment Bank make him a perfect choice for Euronext as the exchange operator aims to close a 4.3 billion euro acquisition of Borsa Italiana from the London Stock Exchange in the first half of 2021.

Piero Novelli

Euronext has confirmed that Piero Novelli has been named the next Chairman of Euronext N.V., in a statement on government evolution. In order to take on the new role, Mr. Novelli will step down from all other executive positions.

UBS Investment Bank has already announced Mr. Novelli will step down as Co-President on 31 March 2021 to “pursue new opportunities, including non-executive chairman positions and roles in academia teaching finance and business”.

Mr. Novelli has been Co-President of the Investment Bank of UBS and a member of UBS Group Executive Board since October 2018. Other top roles at the investment bank include Co-Executive Chairman of Global Investment Banking in 2017 and Global Head of Mergers and Acquisitions (M&A) in 2016.

Mr. Novelli played a number of top roles in leading firms within the industry, including Global Co-Head of M&A at Nomura and Head of European M&A and Head of European Industrials at Merrill Lynch. In his 27-year career in investment banking, Mr. Novelli advised some of the largest Italian corporates on many cross-border strategic transactions.

The experience and skills he developed with these roles make him a perfect choice for Euronext as the exchange operator aims to close a 4.3 billion euro acquisition of Borsa Italiana from the London Stock Exchange in the first half of 2021.

The firm has had better-than-expected annual revenue due to growing income from listings, trading, and clearing activities after a few recent acquisitions.

UBS Investment Bank has already announced Robert Karofsky as the sole President. In the statement, the firm recognizes Mr. Novelli and Mr. Karofsky’s success in realigning efforts around clients’ evolving needs, focusing resources on opportunities for profitable growth, and reinvesting in the bank’s digital transformation.

The Investment Bank has recently reported its best fourth-quarter and full year results since 2012, finishing 2020 with an exceptional return on attributed equity of nearly 20%.

Read this next

Digital Assets

Flock.io and io.net Unite to Pave the Way for Decentralized AI Development

In an effort to create a community-driven Flock.io platform for on-chain, decentralized AI models; the leaders have decided to join hands with io.net to power Flock with decentralized computing.

blockdag

Crypto 2025: The Action Points to Follow to Capitalize on Bitcoin and BlockDAG Network’s 2025 20000X ROI Predictions

In this analysis, we delve into the price predictions for Bitcoin and BlockDAG Network, and we explore the factors driving these projections while offering actionable insights for investors that are looking to capitalize on the 20000x potential of these projects.

Retail FX

Orfinex joins Financial Commission as approved broker member

Multi-asset brokerage firm Orfinex has become a member of the Financial Commission, joining the ranks of the self-regulatory organization. This accreditation reassures traders that the firm meets the quality standards set by the commission.

Fintech

Telegram CEO’s Bitcoin stash valued in hundreds of millions

Telegram CEO Pavel Durov revealed that he has held several hundred million dollars in fiat and bitcoin for the past decade.

Digital Assets

Bitcoin drops below $60K as halving just 300 blocks away

Bitcoin fell below the $60,000 mark on April 17, just days before a scheduled reduction in mining rewards, known as the “halving,” which is set to occur on April 20.

Chainwire

New Meme Coin ICO Dogeverse Raises $6 Million After Completing Coinsult Audit

A new multichain meme coin, Dogeverse, has raised $6 million in its presale and recently passed a smart contract audit.

The new meme coin leverages bridge technology, ensuring the token is available across the most prominent on-chain markets.

Retail FX

Interactive Brokers posts Q1 earnings, raises dividend

Interactive Brokers Group Inc (NASDAQ:IBKR) announced its first-quarter financial results for the period ending March 31, 2024. The leading automated global electronic broker reported a GAAP diluted EPS of $1.61 and an adjusted EPS of $1.64.

Fundamental Analysis, Tech and Fundamental

Global FX Market Summary: USD, FED, Gold  April 17 ,2024

The Fed’s hawkish stance on interest rates is strengthening the US dollar while central banks globally grapple with inflation and economic growth.

Digital Assets

Kraken launches self-custodial wallet, joining competitors like Coinbase

Kraken, the second-largest U.S.-based cryptocurrency exchange, has introduced its own digital wallet, aligning its offerings with those of competitors like Coinbase.

<