Instinet, Reuters' electronic broking service, has named its European chairman and chief executive of European equities.

Janusch Raft has been appointed chairman of Instinet Europe after successfully completing a period as chief executive. Raft will have overall responsibility for co-ordinating all of Instinet's European activities. He worked for Reuters from 1974 to 1987 when he joined Instinet, becoming its European chief executive in 1996.