Plato Partnership announces the participation of Baillie Gifford in the not-for-profit industry company as a founding member.
Additionally, J.P. Morgan, an affiliate member throughout the founding stages of Plato Partnership has recently formalised its involvement, taking on full member status.
Plato Partnership’s development is driven by three key working groups: the Turquoise Plato Expert Group (TPEG), Market Innovator (MI3), and the Plato Strategic Initiatives Group (PSIG).
Mike Bellaro, Plato Co-Chair and Global Head of Equity Trading, Deutsche Asset Management, said:
“The value Plato Partnership brings to the market is only as strong as the firms and individuals taking part in the development of the proposition, and in Ballie Gifford and J.P. Morgan we welcome two of the world’s most respected firms to the group.
“The addition of new partners to Plato Partnership, from both buy-side and sell-side as well as in the academic space via our MI3 offering, means we are able to continue to develop our vision of improving market practices without the conflict of having to deliver shareholder returns. We look forward to widening our membership and setting a new benchmark in execution quality, trust and transparency as the year progresses.”
Adam Conn, Head of Dealing at Baillie Gifford, said:
“Baillie Gifford views our engagement with Plato Partnership as an extension of our work to enhance performance and mitigate operating risk on behalf of our clients.”
Baillie Gifford’s participation comes following the recent announcement of 15 new Plato Partners, including BBVA Asset Management, Capital International Ltd, part of the Capital Group, Commerzbank AG, Instinet Europe Ltd, Jefferies, Legal & General Investment Management, Macquarie Group, RBC Capital Markets, Rosenblatt Securities Inc., Standard Life Investments Limited, T. Rowe Price.