Home Business News Bob Diamond and Rich Ricci invest in new City stock exchange

Bob Diamond and Rich Ricci invest in new City stock exchange

by LLB Editor
20th Aug 13 9:20 am

Rich Ricci, the former head of Barclays’ investment banking arm, and ex-Barclays chief executive Bob Diamond have invested in a new stock exchange in the City, according to media reports out today.

The Aquis Exchange, expected to launch in October, has sold a 30% stake to Warsaw Stock Exchange for £5m. It was founded last year by Alasdair Haynes, the former chief executive of Chi-X Europe.

Known to be headquartered on Cheapside, the exchange will operate on a monthly subscription model as opposed to charging fees on individual trades. It is not yet clear in what capacity the two ex-Barclays’ bankers have lent support to the new exchange.

Diamond stepped down as Barclays chief executive in July last year while Ricci retired to a Bob Diamond and Rich Ricci invest in new City stock exchange in June. Back in February, it was reported that Diamond was planning to set up a hedge fund in New York.

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Bob Diamond and Rich Ricci invest in new City stock exchange

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