Banking

Broadridge appoints Ray Tierney as new president of Itiviti

Fintech giant Broadridge has appointed financial services veteran Ray Tierney as president of its subsidiary Itiviti.

The company says Tierney will be responsible for the management and growth of Broadridge’s front-office trading solutions, following its recently completed acquisition of Itiviti.

Broadridge signed a $2.5 billion deal to acquire the Swedish capital markets company in March this year.

Tierney boasts 35 years of capital markets experience having most recently served as global CEO of trading solutions at Bloomberg LP and CEO and president of Bloomberg Tradebook.

He also spent 18 years at banking firm Morgan Stanley as global head of trading and execution in the investment management division.

“Ray is a proven industry leader and the perfect person to build out, scale and drive sustainable global growth as he oversees the extension of our capabilities into the front office and the deepening of our multi-asset class solutions,” says Broadridge CEO Tim Gokey.

“Ray’s addition to our leadership team represents another important step in our continued journey to grow our capital markets franchise and capitalise on the significant opportunity to serve our clients’ full trade life cycle from order to settlement.”

Rob Mackay, CEO of Itiviti since 2019, will move to a senior advisor role.

“I am proud of the milestones Itiviti achieved over the last few years, capped off by the Broadridge acquisition,” says Mackay.

“Ray is the ideal leader to continue to grow and scale the business, leveraging his wealth of capital markets experience to take the team and business to the next level.”

Making moves

Broadridge is one of the industry’s most active consolidators and has conducted several mergers and acquisitions in the past few years.

It confirmed the acquisition of reporting firm FundsLibrary and portfolio ClearStructure in 2020.

In 2019, it took over Northern Trust’s private equity distributed ledger system, securities firm Rockall, and a portion of regulatory technology firms PivotData and Sol Hedge.

In 2018 it bought up Dublin-based FundAssist and Israeli digital technology firm ActivePath.


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