Equity capital marketplace Appital announced two senior board appointments of Greg Bennett and Stephane Carty as non-executive directors.
The new appointments aim to help the company with its strategy to accelerate growth and to bring technological innovation and automation to equity capital markets. Appital provides liquidity opportunities for buyside firms, including in small and medium cap stocks, and enables them to execute large volumes, often in excess of five days of Average Day Volume (ADV), with minimal market impact or risk of price erosion.
Former fidelity head of Capital Markets Greg Bennett brings to the company vast experience and knowledge of the liquidity challenges faced by the buy-side. He also brings sell-side expertise he accumulated as Partner and Managing Director in Equity Capital Markets and Equity Syndicate for Cazenove and JPMorgan Cazenove.
Greg Bennett, NED, commented:
After a career in Equity Capital Markets as both an adviser and an investor, I have seen first hand the inefficiencies and opacity within the process and believe that technology has a key role to play in moving ECM forward. Illiquidity is a systemic issue within equity markets and has a real adverse cost of capital for issuers and diminishes investors’ returns. With Appital, there is the opportunity to address this key issue as well as provide a significant step change in the execution of ECM business across the market. I am excited to be working with the team to help deliver this vision.