New CEO for MTS Japan

Fabrizio Lavezzari had been named as the new chief executve of MTS Japan, the electronic platform for Japanese bonds. He replaces William Campbell, who a senior MTS official said had left to pursue other personal and business interests. The official said the handover was smooth, with no acrimony on either side.

Lavezzari joins from ABN Amro Securities Japan, where he served as head of capital markets origination. He has also worked as director for the debt capital markets sector at UBS Warburg Securities Japan, following a long spell as an associate director at Japanese investment bank Nomura Securities.

He will focus on phase two of MTS Japan - rolling out a series of new products and the further expansion of membership - with the ultimate aim of improving the transparency, liquidity and efficiency of the Japanese government bond market.

Coinciding with Lavezzari's appointment, ABN Amro and Credit Agricole Indosuez have joined Dresdner Securities as market-makers for MTS Japan that have not taken an equity stake in the venture.

The equity holding market-makers are Barclays Capital, BNP Paribas, Credit Suisse First Boston, Daiwa SBCM, Deutsche Securities, Goldman Sachs, JP Morgan Chase, Merrill Lynch, Mizuho Securities, Morgan Stanley, Nomura Securities, Nikko Salomon Smith Barney, Tokyo-Mitsubishi Securities, UBS Warburg and UFJ Capital Markets Securities.