IBS Journal April 2016
On the move
FS software provider SS&C Technologies is bringing onboard Stephanie Miller as Senior Vice President for its fund administration business. Formerly head of JP Morgan’s fund administration business, Miller will help shape the overall alternatives business strategy. Miller, who has also held senior roles at Citco, Credit Suisse First Boston, The Capital Markets Company, CDC North America, and FGIC Capital Markets, will also be responsible for pre-sales and implementations with a special focus on developing and implementing solutions for the largest global fund managers.
“Stephanie’s outstanding background in global operations management, business development and technology skills enhances our management team and underscores our commitment to our fund administration business,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This addition reflects our focus on providing solutions to the alternatives industry in a fast- paced environment of technological and regulatory change.”
“I cannot think of a more exciting time
to join an organisation that offers a truly unique platform of products and solutions to hundreds of alternative managers worldwide. I have had direct experience using SS&C’s technology platforms and look forward to having these powerful platforms at my disposal and using SS&C’s deep expertise and technical architecture to create solutions for some of the largest and most complex fund managers,” says Miller.
JP Morgan Chase has hired Seth Wheeler, a former economic advisor to President Obama, as a managing director in the FinTech and innovation strategy space. The largest US bank has a number of digital banking and FinTech related projects underway, including a revamped consumer website, and a mobile wallet, Chase Pay, set to be launched later this year.
It has also been trialling a blockchain initiative that aims to make the trading
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process more efficient and cost effective. The project is in collaboration with blockchain startup Digital Asset Holdings, headed up by ex-JP Morgan executive Blythe Masters. Earlier this year, the venture announced that it had raised more than $50 million in a fundraising round which included JP Morgan.
ING has a new Chief Innovation Officer. Ignacio Juliá Vilar is currently an executive in the Dutch banking group’s Polish division and will take up the role in May. He will also become Head of Retail Banking Segment, a newly created position which, according to ING, “has been created to strengthen the overall steering and coordination of retail banking at ING and has been combined with the CInO role to give greater executional certainty to new retail innovation projects.”
The current Chief Innovation Officer, Brunon Bartkiewicz, has been appointed CEO of ING Bank Śląski. In 2014, ING announced that it would cut 1,700 jobs in the Netherlands and invest Euro 200 million to expand its digital banking platform and put additional investment into the information technology capabilities of its Dutch retail banking unit.
The Toronto Stock Exchange has appointed a blockchain and Bitcoin expert as its first Chief Digital Officer in a bid to understand the technology further. Anthony Di Iorio, a founder of a number of blockchain-based firms, stepped into the position in January. He founded the Bitcoin Alliance of Canada and is a co-founder of Ethereum, currently making waves in the R3 consortium.
Toronto Stock Exchange isn’t the first of its kind to dabble in blockchain. Nasdaq has heralded its first transaction via blockchain as a major step forward for the technology. The exchange operator made its first private securities transaction through its newly-created distributed ledger platform, Linq. The proof of concept payment was recorded on New Year’s Eve by
Chain.com, a startup that aided Nasdaq in the development of Linq. Despite
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Nasdaq trying to claim the plaudits, other companies trialled experimental blockchain payments in 2015.
Symbiont, a maker of trading platforms for settlement and clearing, responded to Nasdaq’s claim by telling journalists that it beat the exchange company to the punch last year.
The Wall Street Blockchain Alliance (WSBA) has announced that Juan Llanos will be joining the trade group’s advisory board. Llanos has built and managed compliance programmes across the globe, and has held a number of senior positions at Unidos Financial Services and Remesas Quisqueyana. Most recently, he led Bitreserve’s (now Uphold) transparency and compliance strategy. Currently, he is EVP of Business Development for analytics startup Coinalytics.
Ron Quaranta, Chairman of the WSBA, says: “Juan is a seasoned expert and a much sought-after advisor in financial markets, with a particular focus on anti-money laundering and regulatory compliance. His deep knowledge of the world of distributed ledgers and digital currencies make him a valuable addition to the WSBA. We look forward to his participation with the organisation, and to working with him to grow the WSBA.”
Secure Trading, a London-based payments venture, has hired a former LulzSec hacktivist to work on its new blockchain project, codenamed Trustery. Mustafa Al-Bassam, who went by the moniker ‘tFlow’, will help the company to develop a platform that improves the visibility and reliability of online payments.
Secure Trading approached Al-Bassam, who will be working part time while completing a computer science degree at King’s College London. Lulz Security, aka LulzSec, claimed to be behind a number of high profile cyberattacks. Most notoriously, the group is thought to be behind the 2011 Sony Pictures hack which saw unreleased films and documents spread over the net.
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appointments news
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