Huge Shakeup at Betfair and Concerns Over LMAX

Written by :

Aaron Goldstein

Published on :

4 April, 2011

Robin Osmond, the chief executive of LMAX, resigned from the financial platform he helped launch for Betfair.

The Financial Times of London noted that Osmond stepped down late last week “to pursue other opportunities in the City” but will remain with LMAX during his handover to an interim chief, David Mercer.

The LMAX platform is 73.5 percent owned by Betfair, the world’s largest betting exchange.

Market analysts have expressed concern over the future of LMAX, especially after Betfair declined to elaborate on LMAX’s progress when asked to report.

Meanwhile, Mathias Entenmann, Betfair’s chief products and services officer and the one time UK managing director of exchange, will also be stepping aside at the end of this month. Entenmann was instrumental in pursuing the company’s growth in the US market.

- Aaron Goldstein, Gambling911.com

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