Liquidnet, which helps asset managers buy and sell large chunks of shares anonymously, has hired the former global head of trading at Legal & General's investment management arm to help it expand in Europe, the Middle East and Africa.

Stephen Grady was named as a non-executive director of Liquidnet's European business in a statement today. Liquidnet was established in the US in 2001 and runs dark pools, which are off-exchange venues that allow investors to trade without moving market prices against them.