Stock Market Operator Euronext Hires UBS’ Novelli As New Chairman

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Euronext has hired Piero Novelli, a co-president at Swiss bank UBS, to become its new chairman, the pan-European stock market operator said on monday.

Novelli has been co-president of Investment Bank of UBS and a member of UBS’ executive board since October 2018, Euronext said, adding that Novelli has also advised many Italian companies on major deals.

Euronext, which aims to close its 4.3 billion euro ($5.22 billion) acquisition of Borsa Italiana from the London Stock Exchange in the first half of 2021, reported higher-than-expected annual revenue earlier this month.

Growing income from listings, trading and clearing activities after some acquisitions helped boost the company’s annual numbers.


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