New European on-line brokerage Xelector has appointed Daniel Grasman, a strategy consultant with 10 years' experience working at companies including McInsey, as chief operating officer.

Justin Hunter, ex-general manager of, an Asian on-line stock exchange, becomes channel director.

John O'Donnell joins as head of the database division. Kieran Boyce is the IT architect and Mike Redford will head up the company's regulated products division.