Broadridge Picks a COO and Chief Revenue Officer
Broadridge Financial Solutions has promoted Tim Gokey to the post of chief operating officer (COO) from his role as corporate senior vice president and chief corporate development officer. The vendor has also named Stephen Racioppo as chief revenue officer.The promotion of Gokey is in keeping with the company’s planned succession process, officials say. Racioppo will have to focus on increasing sales momentum and developing solutions.
In Gokey’s more than two years at Broadridge, he helped develop a more systematic approach to acquisitions and has helped boost the company’s sales efforts for emerging and acquired products, which contributed to increasing sales in this sector by 80%, officials say.
Gokey also helped revamp Broadridge’s marketing and sales capabilities, officials say. As part of his remit, Gokey will oversee Broadridge’s Securities Processing Solutions business, strategy, and mergers and acquisitions.
Before Broadridge, Gokey was the president of H&R Block’s Retail Tax Services, where he was responsible for $3.7 billion in revenue and over $900 million in pre-tax profit, officials say. Prior to H&R Block, he was a partner at McKinsey & Co., where he led the firm’s North American financial institutions marketing and sales practice.
Prior to his new post, Racioppo, who has three decades of financial services and executive experience, was a senior managing director at Accenture where he led the financial services consulting, technology and outsourcing businesses in North America and Asia Pacific. Before Accenture, he served as COO at TLO. Racioppo will work closely with Peter Benzie, Broadridge’s chief sales officer, who will continue to lead the sales and marketing organizations, from now until his previously planned transition in January 2013.
BI-SAM Expands NYC Office
BI-SAM Technologies, a provider of data management, performance measurement and attribution, composites and client reporting solutions for the asset management industry, has expanded its Americas headquarter in New York City to better meet growing demand in the region, officials say. The bigger facility, at 295 Madison Ave., 11th Floor, New York, NY 10017, will have additional meeting and conference rooms to support the vendor’s continued business growth in North and South America.
NYSE Clearing Hires a Chief Risk Officer
NYSE Euronext (NYX) has appointed Demetria O’Sullivan as chief risk officer for its new derivatives clearinghouse in London—NYSE Clearing, officials say. NYSE Clearing is slated to launch a revamped NYSE Clearing platform in June 2013.
O’Sullivan will join NYSE Euronext Dec. 3, 2012 after she leaves her post at Citigroup, where she was global head of risk for futures and OTC clearing, having previously held a similar role at J P Morgan, officials say. For her new role, O’Sullivan will report to Mark Ibbotson, chief executive of NYSE Liffe for clearing, trading and regulation.
In addition to her high-profile posts, O’Sullivan has served on the risk committees of various global central counterparty clearing facilities and has been at the forefront of developments in risk management for futures and over-the-counter (OTC) derivatives clearing, officials add.
Dubai Mercantile Exchange Opens Singapore Office
The Dubai Mercantile Exchange (DME) has opened its first office in Asia in Singapore as a demonstration of its commitment to growth in the region, officials say. The Singapore office will help the DME offer region-wide support and services to its base of members across Asia.
“Singapore is the largest oil trading hub in Asia and the third largest in the world, making it an important strategic location for the DME,” says Christopher Fix, CEO of the DME in a prepared statement. “It’s also home to more than 800 professional oil traders, trading volumes of US$375 billion in oil contracts annually.”
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