Mark Beeston, CEO, Illuminate Financial Management
Start-up Duco, a vendor of hosted reconciliation services, has appointed industry veteran Mark Beeston as its new chairman.
Beeston most recently founded Illuminate Financial Management in February 2014, where he is CEO, after four years at interdealer broker ICAP where he was CEO for ICAP’s post-trade risk business.
Prior to ICAP, Beeston spent four years as president of T-Zero (now ICELink), a subsidiary of Creditex Group Inc (now ICE). He started his career at Deutsche Bank where he worked for 13 years.
Duco, when it was known as Model Two Zero, has a link to ICAP via an investment in 2011 from Euclid Opportunities, ICAP’s early stage financial technology project. Euclid Opportunities offers seed-funding to early stage companies that provide innovative technology in the areas of post-trade risk management, data and other financial market applications. Euclid is majority owned by ICAP. The company became Duco in April 2013 and launched the Duco Cube Static Control offering in March 2014.
“Having been part of the original investment team from ICAP, I am delighted that the management and board of Duco have asked me to return to the board as chairman of this very dynamic company,” says Beeston in a statement. “Duco has just reached that inflection point where they are really starting to make an impact on the world of reconciliation and static data and we have lots of exciting opportunities ahead of us.”
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