Electronic broker Instinet has appointed Michael Bundy as chief technology officer, replacing Andrew Banhidi.
In a statement Instinet says Banhidi has "decided to leave the company to pursue other interests".
Bundy was previously at E*Trade Financial where he was a senior manager overseeing the development and maintenance of trading systems used by the company's securities, capital markets, and Canadian divisions.
Prior to this assignment, Bundy supervised all of the E*Trade Professional trading, market data and middle-office technologies.
He also previously held technology research positions at Baylor College of Medicine, AT&T Bell Laboratories and NeoSoft.