Pirum hires Richard Marquis for North American team
Pirum announced that Richard Marquis has joined the firm’s New York office, as director for Sales in North America. Marquis brings over 30 years’ experience of leading securities finance trading teams and developing innovative technology solutions across agency lending, prime brokerage and principal borrowing/lending.
He joins Pirum from MUFG Securities, where he was running the Securities Finance Regulatory Project for 10c-1a compliance. Prior to that Marquis headed Borrow DIRECT at BNY, a cutting-edge principal and P2P program, having also headed the firm’s Cross Product Trading Strategy department for secfinance, as well as the Americas equity trading team. His previous positions include serving as the head of International Equity Hedge Fund Demand at J.P. Morgan and as executive director for International Equity Prime Brokerage at UBS.
Marquis said in a statement: “My passion for technology and how it intersects with capital markets has guided my career to date. Unsurprisingly, therefore, joining Pirum’s US team proved to be a great opportunity. In an already busy industry, Pirum offers a unique combination of cutting-edge technology – from industry-leading automation and connectivity to optimization – with best-in-class client service.”
Frank Seibold, head of Commercial Development for the Americas, said in a statement: “We are at an exciting juncture for Pirum, particularly in this crucial growth region. I am thrilled to have Richard join our team. His extensive domain knowledge, wide-ranging client network, and great reputation make him an ideal fit for this essential client coverage role. Richard’s addition to our team is a significant boost as we strive to further expand our presence in North America.”
Euroclear appoints BNP’s Danloy as chief business officer
Euroclear announced the appointment of Sébastien Danloy to lead the group’s Client and Business Strategy divisions, comprising its commercial, client insight and marketing, product development, innovation and client experience activities.
Danloy brings over 25 years’ experience within the banking, asset management and securities services industry. An industry veteran, he joins Euroclear from BNP Paribas Securities Services where he was global head of Sales and Relationship Management for Institutional Investors. His prior experiences include senior positions at HSBC Bank plc, RBC Investor Services Bank SA and Société Générale Securities Services.
Valérie Urbain, CEO of the Euroclear group, said in a statement that Danloy’s “deep industry knowledge, client focus and passion for making the complex simple will further position Euroclear as a preferred financial market infrastructure partner.”
Danloy said in a statement: “I am thrilled to join Euroclear, one of the market leaders in the financial market infrastructure ecosystem and look forward to partnering with our clients on the joint business opportunities that lie ahead.”
ISSA appoints DTCC’s Steele to Board
The International Securities Services Association (ISSA) announced that Brian Steele, president for Clearing and Securities Services at DTCC, has been appointed to the Board of ISSA. Steele takes over the ISSA Board seat from former DTCC appointee, Ann Bergin.
At DTCC, he is responsible for leading the firm’s clearing and securities services businesses, including Equity Clearing and Settlement, Fixed Income Clearing, Wealth Management Services, Asset Services and Institutional Trade Processing (ITP). He is currently a member of the DTCC Executive Committee, Management Risk Committee and the Investment Management Committee. Additionally, he serves as Chair of the ITP Board of Managers.
Steele has nearly 20 years of experience in the financial services industry, serving in a wide range of senior-level roles at Goldman Sachs, most recently as managing director of Americas Client Coverage Group and global head of Client & Market Solutions. Prior to that, he served as a senior leader in several key Operations roles. He also served as a board member for both Acadia and Droit.
Vicky Kyproglou, ISSA Board chair, said in a statement: “We are excited to have Brian represent DTCC on the ISSA Board. His experience leading a global team that is transforming market structures and delivering innovative solutions will be of great value. We look forward to working with Brian and furthering ISSA’s mission of ‘shaping the future of securities services.’”
Steele said in a statement that he’s joining the ISSA Board at a time of “significant industry evolution, both from a market structure and digitization perspective.”
“DTCC played a critical role in the U.S. transition to a T+1 settlement cycle, working with clients and key stakeholders around the world to ensure a smooth and successful implementation. The positive contributions and feedback from the ISSA T+1 Working Group, especially the perspectives of global participants, were very helpful in achieving this success.”
Over the past two years, ISSA has focused on the execution of its strategy and its analysis of the industry’s imperatives, such as T+1 Settlement, the Future of Securities Services, Digitization, Resilience and Distributed Ledger Technology (DLT), positioning the organization as a thought leader and resource for the industry.
Naveen TV joins AccessFintech as head of Product
AccessFintech announced the appointment of Naveen TV as head of Product. As part of the executive team TV will be responsible for expanding and maturing AccessFintech’s suite of products that operate on the data infrastructure Synergy. He will be responsible for driving product innovation by expanding the feedback loop with the capital markets ecosystem leading on go-to-market strategy and campaign management.
TV holds over twenty years of expertise in financial services and most recently spent 12 years at J.P. Morgan as the global head of Data Strategy and AI. He forged strategic partnerships, strengthened client relationships, and played a key role in implementing cutting-edge, front-to-back operating models.
While at J.P. Morgan, he worked in partnership with AccessFintech on innovating and delivering data led collaboration initiatives, creating a data network with brokers, agent banks and buy-side firms, for example collaboration on a range of custody data sets to include trade processing, payment and tax reclaim statuses.
Prior to J.P. Morgan, TV worked at Goldman Sachs for eight years as vice president focusing on client onboarding, client relationship management and middle office operations. He also brings board experience having served as board director at Saphyre and AccessFintech.
Roy Saadon, CEO of AccessFintech, said in a statement: “Naveen is one of the most widely admired, networked and experienced professionals in the market. We are delighted to welcome him to our team and look forward to excelling the value creation for the benefit of the entire capital markets ecosystem, along with his strong understanding of the strategic goals of our client base, will help him leverage significant growth for AccessFintech in his new role as head of Product.”
TV said in a statement: “As a leading player in the market driving significant transformation in data management and insights, I am excited to join AccessFintech and look forward to helping clients achieve greater operational efficiencies and transparency across their transactions through enhanced product development.”
GLEIF establishes vLEI advisory board to support automated verification
The Global Legal Entity Identifier Foundation (GLEIF) announced the establishment of the vLEI Technical Advisory Board, a cross-industry body assembled to provide technical, governance, and developmental support to the growing vLEI stakeholder ecosystem.
The vLEI Technical Advisory Board consists of technology experts at globally respected organizations including Accelerate GmbH, esatus AG, healthKERI, Provenant Inc. and Prosapien LLC. It is chaired by Christoph Schneider, GLEIF’s head of IT. The Board will work with GLEIF to facilitate ecosystem growth by supporting the system’s scalability and technical interoperability, promoting related use cases and participating in pilot projects, building partnerships, and strengthening ties with the Open-Source community to enable seamless adoption of vLEIs on a global scale.
vLEI digital organizational identity was developed in response to the urgent unmet need for tamper-resistant credentials to provide greater security, convenience, versatility, and ease of use for organizations and the persons representing them in official or functional roles.
As the vLEI ecosystem approaches readiness for mass utilization by the world’s legal entities, the vLEI Technical Advisory Board will engage with key technical stakeholders representing governments, businesses, and non-profit organizations to better understand their needs and promote the acceptance and adoption of vLEI services. It will also engage closely with technical public and private sector stakeholders, developers, and consultants to facilitate communication, encourage innovation and the development of novel applications, and exchange research and best practices.
Alexandre Kech, GLEIF CEO, said in a statement: “The vLEI enhances the LEI ecosystem by providing an open, reliable, and highly scalable digital cross-border entity identification solution that has been developed to integrate with new and existing applications and frameworks. In this capacity, it is unique and, therefore, presents a rare opportunity to solve the critical problem of digital organizational identity globally, once and for all.
“We have assembled the vLEI Technical Advisory Board to provide this new ecosystem with the best possible chance of succeeding. By connecting the experts and creating the strategic partnerships that will evolve the vLEI’s supporting infrastructure, we aim to establish this system as the fundamental enabler of digital trust across the many value chains that underpin our global economy.”
Sam Smith, founder, Prosapien LLC, vLEI Technical Advisory Board, said in a statement: “The vLEI is the first truly universal automated verifiable trust anchor for assuring organizational identity. The TAB provides a beneficial interface between the underlying technology, the ecosystem governance framework, and industry applications.”
Accelerate GmbH, vLEI Technical Advisory Board, was cited in a statement stating: “Strong, global and scalable governance framework of GLEIF combined with the vLEI technology finally offers once in a lifetime opportunity to establish a digital trust layer for a variety of enterprise use-cases across multiple industries. This will enable a new era of IT innovation targeting solutions that can automate any intercompany business process that requires regulatory, risk, and policy compliance certainty.”
Andre Kudra, CIO, esatus AG, vLEI Technical Advisory Board, said in a statement: “We are proud to be part of the vLEI Technical Advisory Board, standing alongside other pioneers of digitalization and digital identities. Our involvement underscores our commitment to leading the charge in developing cutting-edge, secure digital identity solutions for a modern economy.”
Philip Feairheller, CTO and co-founder, healthKERI, vLEI Technical Advisory Board, said in a statement: “healthKERI recognizes the crucial role of the vLEI in the global digital ecosystem. The verifiable Legal Entity Identifier (vLEI) represents the culmination of over a decade of work and collaboration across countries—coordinated through GLEIF’s efforts—to establish a secure, trusted digital organizational identity. Our participation with the vLEI Technical Advisory Board reflects our commitment to supporting the further success of the vLEI on the global stage.”
Daniel Hardman, CTO and CISO, Provenant, vLEI Technical Advisory Board, said in a statement: “We’ve had X509 and other forms of organizational identity before – but we’ve never had rock-solid, transparent governance with recognized validity across a broad range of national legal jurisdictions. We’ve also never had the efficiency, flexibility, and cryptographic robustness of the vLEI. Provenant is building vLEI-based solutions for trust problems in banking, telco, and other verticals. We are excited to see trust go up in ways that satisfy regulators, decrease operational costs, eliminate risk, and make us all safer.”