Michael Paull, formerly senior vice president of Instinet, has been appointed chief executive officer of Enigmatec Corporation, an IT company formed earlier this year to create tools for mobile commerce.

In moving, Paull rejoins his former colleague Duncan Johnston-Watt, co-founder and chief technology officer of Enigmatec. The pair worked together in setting up Instinet's fixed income broking platform, which launched in Europe in May 2000.