Marianne Brown will stay on as president of Omgeo as the DTCC buys out Thomson Reuters
Marianne Brown
Marianne Brown will continue to serve as president and CEO for Omgeo as the DTCC begins its acquisition of the other half of the post-trade services provider from market data and news giant Thomson Reuters, ending a 50-50 partnership that spanned 12 years, say DTCC officials. The post-trade processing utility announced the change in ownership today.When both parties finalize the transaction, Omgeo will become a fully-owned subsidiary of the DTCC, according to DTCC officials.
The joint efforts of the DTCC and Thomson Reuters yielded products for institutional post-trade processing, integrating an electronic allocation engine, a central matching solution and the leading account and standing settlement instruction (SSI) database, say DTCC officials. Thomson Reuters will continue as a key service provider to and partner with Omgeo.
The DTCC subsidiary to come will lead to a single, global strategy for post-trade processing and settlement that will facilitate key industry initiatives including the move to trade date affirmation, settlement matching in the Depository Trust Company (DTC), and the adoption of shorter settlement cycles in various markets, according to the DTCC.
The services of the DTCC include clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions.
Officials did not disclose terms of the deal. The closing of the transaction will follow mandatory regulatory filings in countries where required.
NYSE CIO Jumps Ship to Lead Capco Institute
Peter Leukert
Peter Leukert, the former global chief information officer for NYSE Euronext, has joined FIS to lead the Capco Institute, which facilitates debate among financial services academics, regulators and industry practitioners, say officials of the vendor of banking and payments technology. FIS acquired the business and technology consultancy Capco three years ago. Leukert’s full title at FIS is executive vice president, head of strategy for global financial institutions and head of the Capco Institute.
Leukert’s departure coincides with the IntercontinentalExchange’s acquisition of NYSE Euronext. The European Commission approved the merger last month but final approval from the SEC and other regulators is pending.
As part of the FIS senior leadership team, Leukert will oversee the FIS strategy and thought leadership initiatives targeting financial services executives and the needs of global financial institutions, officials say. Capco publishes the Capco Journal of Financial Transformation.
Leukert became global CIO at NYSE Euronext in April 2012 where he led the exchange company’s global IT operations. Before NYSE Euronext, Leukert became CIO of Commerzbank in 2007 overseeing applications and IT infrastructure, including a technology group of 3,700 employees. He also helped lead the integration of Dresdner Bank into Commerzbank, completed in May 2011, officials say.
Leukert has a prior connection to Capco. In early 2012, Capco launched its IT Complexity Model project with Commerzbank, which was supported by a white paper co-authored by Leukert who also served as one of the project leaders. “We believe that a complexity metric could substantially aid the CIO in decision making and we are well on the way to developing and applying such a metric,” Leukert said at the time.
Prior to Commerzbank, Leukert served as a partner at McKinsey & Company’s Center of Competence for Business Technology, in Frankfurt, officials say. He had a primary management consultant focus on IT and operations management for financial service providers, capital markets and the public sector.
FIS is headquartered in Jacksonville, Fla.
ConvergEx Prime Services Gets an SVP for Chicago
ConvergEx Group, a provider of global brokerage and trading‐related services, has named Gregory B. Pearce as senior vice president of sales for its prime brokerage services business, say company officials. From his base in Chicago, Pearce will be oversee the expansion of ConvergEx’s Prime Services presence throughout the Midwest.
“We have seen a great deal of recent growth in our Midwest operations,” says Douglas M. Nelson, CEO of ConvergEx Prime Services in a statement.
Before joining ConvergEx, Pearce, who has more than 15 years of sales and capital raising experience, was a managing director at registered investment adviser Continental Advisors, officials say. Before that, he worked with the institutional sales groups at Susquehanna Financial Group and Sanford C. Bernstein.
ConvergEx Prime Services, which targets hedge funds, family offices, mutual funds and registered investment advisors, offers technology, global execution and reporting tools provided by the multiple prime custody options of Goldman Sachs Execution and Clearing, J.P. Morgan Clearing Corp and Pershing, officials say.
Intervale Capital Hires from Falconhead
Intervale Capital, a private equity firm focused on the energy industry, has hired Jason Turowsky from middle-market private equity fund Falconhead Capital to be a vice president, officials say. Turowsky spent a decade at the New York based Faclconhead.
At Falconhead, Turowsky was focused on evaluating, executing and monitoring investments across diverse array of industries, officials say. Prior to Falconhead, he worked at UBS Investment Bank, where he advised on a variety of capital markets and merger and acquisition transactions.
Intervale Capital has offices in Boston and Houston.
DST Vet Joins Information Mosaic as Chief Revenue Officer
A veteran of DST Global Solutions, Philip Hogan has been appointed chief revenue officer for post-trade software vendor Information Mosaic. Hogan’s remit is to align the provider’s global functions of sales, account management, product management and marketing, say Information Mosaic officials.
Hogan, who has more than 35 years’ of international business experience, was most recently the regional managing director of DST Global Solutions in Asia-Pacific. In his new role, Hogan will oversee the continued investment in Information Mosaic’s corporate actions and securities processing solutions, which will include new products, officials say. He will be based in the vendor’s Dublin office and will be managing teams spanning America, Europe and Asia.
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