Euronext names MTS head Fabrizio Testa as CEO of Borsa Italiana

Euronext, which operates the biggest pan-European exchange, has appointed Fabrizio Testa as CEO of Borsa Italiana, and as head of fixed income trading. Testa, who currently heads the Italian group’s bond platform MTS, replaces Raffaele Jerusalmi as the CEO of the recently acquired Milan bourse.

The outgoing chief executive is set to leave on November 28, ending a twelve-year tenure at Italian key bourse. On the same day, Fabrizio Testa will take up his new roles at the pan-European stock exchange. He will step down from his position as CEO of MTS in the course of Q1 2022.

Fabrizio has been leading MTS, one of Europe’s leading facilitators of electronic fixed income markets, since 1999. He helped grow the business to currently connect a network of over 1000 buy- and sell-side participants across Europe and the US, with average daily volumes exceeding EUR 130 billion.

Andrea Sironi, Chairman of Borsa Italiana, said: “I want to express my gratitude to Raffaele for all that he has done for Borsa during his 11-year tenure as CEO. Under his leadership, Borsa Italiana has consistently delivered excellent economic results, creating significant value for all its stakeholders, has been a leading financial market infrastructure in terms of innovation and sustainability, as demonstrated by the success of a number of new initiatives such as the ELITE, AIM Italia, MIV and ExtraMOT markets, and has strengthened its international position.”

Fabrizio Testa added: “I am honoured to take the role of CEO of Borsa Italiana and Head of Fixed Income trading of Euronext. I would like to commend my MTS colleagues for what we have achieved during the last few years, together we built a truly European leader in electronic fixed income trading. Client centricity, team work, international vision and innovation will continue to drive me in my new roles. I am glad to be part of the European project of Euronext and look forward to make the most of Borsa Italiana and Euronext combined strengths. Finally, I would like to thank Raffaele and wishing him all the best.”

Euronext completed its €4.3 billion acquisition of the Italian key bourse from the London Stock Exchange in April after it received the blessing of the European Commission. The takeover marked another step forward for Euronext in its bid to create a new financial markets heavyweight.

The exchange operator said the transaction with the Milan-based stock exchange diversifies its business mix into new asset classes, and strengthens its post-trade activities. In addition, it gives Euronext a clearinghouse for the first time, as well as a securities depository and bond platform. Borsa Italiana Group contributed €89.6 million to the group’s Q2 revenue.