As of this posting, the New York Stock Exchange (NYSE) has resumed trading in equities and my heart goes out to those working in operations and IT at affected firms. These Ops foot soldiers will have to reconcile, track, record and reconstruct transactions that were caught short by the three-and-a-half hour systems halt on Wednesday,… Read More >>
Private Equity Firms Beset by IT Woes: SunGard Report
The private equity industry sees some bright spots in its future, but higher-ups are clear-eyed about the difficulties “mounting pressure on fees, costs and the amount of information provided,” might pose going forward, according to a new survey out by financial software and systems vendor SunGard. The report, “Global Private Equity Report 2015: Insights, Relationships… Read More >>
U.K. Firm Goes Live With i-Recs Solution
London-based New Peak Capital Partners has gone live with Watson Wheatley Financial System’s (WWFS) i-Recs, a reconciliation and data aggregation solution, officials say. WWFS recently released a Total Equity for Derivatives Reconciliation module for i-Recs, which allows full automated control over all aspects of trade and cash reconciliation on margin accounts. WWFS officials say New… Read More >>
Gresham Computing’s New CEO from SAS Institute
Reconciliation vendor Gresham Computing has appointed Ian Manocha as its new CEO, officials say. Manocha will be based in London and tasked with executing “on the firm’s ambitious and strategic global growth rates,” according to a company statement. Chris Errington, who previously held the CEO post at Gresham, is stepping down in light of Manocha’s… Read More >>
S&P Capital IQ Names Head of CUSIP Global Services
CUSIP Global Services (CGS), which produces identifying instruments and entities for the capital markets, has announced that Scott Preiss, currently CGS’s vice president and chief operating officer (COO), will replace Jim Taylor as head of the organization when he steps down on July 1. CGS is owned by S&P Capital IQ, which is itself owned… Read More >>
Daiwa Capital Markets Deploys Torstone for Hong Kong
Daiwa Capital Markets Hong Kong, the investment banking arm of Daiwa Securities Group, has gone live with securities and derivatives processing software vendor Torstone Technology’s Inferno post-trade processing platform, officials say. The switch marks “the latest phase of a long-term collaboration to implement best-of-breed back-office technology across multiple asset classes at Daiwa HK,” according to… Read More >>
SEC Promotes Acting Head of Investment Management Unit
The SEC reports that David Grim has been named director of the division of investment management. Grim has been the division’s acting director since February, following the departure of former director Norm Champ. Grim joined the SEC in September 1995 as a staff attorney in the division’s office of investment company regulation, according to a… Read More >>
LPL Financial Names First CTO
LPL Financial, a custodian for registered investment advisors that characterizes itself as the largest independent broker-dealer by revenues in the U.S., reports that David Wright has been named executive vice president, chief technology officer (CTO). In his newly created CTO role, Wright will report to Victor Fetter, managing director, chief information officer, LPL Financial officials… Read More >>
Mizuho International Revamps Data Infrastructures
Mizuho International, a subsidiary of one of the largest financial institutions in Japan, has gone live with a security master application from reference data vendor GoldenSource, officials say. The deployment of the Securities & Products application follows the investment bank’s January deployment of GoldenSource’s entity master application, dubbed Customers & Counterparties, officials say. Integrated on… Read More >>
UnaVista Hires from Axiom SL
UnaVista, the London Stock Exchange Group’s matching, reconciliation and regulatory reporting platform, reports that Robert Grant has joined as head of business development, software for Americas. Grant has 25 years of industry experience and most recently served as senior vice president of sales at Axiom Software Laboratories, “where he also led marketing and business development… Read More >>
