Chi-X Europe chief executive Alasdair Haynes is quitting in the wake of the multilateral trading facility's acquisition by Bats Global Markets.
The firm has confirmed the widely expected news that Haynes will move on once the takeover is completed - slated for Q2 - with Bats Europe chief Mark Hemsley taking charge of the merged entity.
Haynes joined Chi-X Europe in 2009, overseeing its move from a subsidiary of Instinet to an independent company after replacing Mark Howarth, who had been acting as interim CEO following the departure of Peter Randall.
Between 2006 and 2009, he was CEO of Investment Technology Group's international business and he has also worked for HSBC James Capel, UBS and Morgan Grenfell.
There is speculation that Haynes, who says he is "ready for a new challenge", is looking in to building another start-up alternative trading platform.
Commenting on the merged company, Hemsley says: "I believe we have a tremendous opportunity ahead of us with Bats Chi-X Europe. Utilising the best qualities of both companies, we aim to create an even more competitive organisation which will continue to lead the way in pan- European equity trading."