Transcend announced an expansion into Asia along with Europe, which will be boosted by the addition of new senior advisory board members. All new board members have experience in global operations.
Transcend serves a broad market by connecting liquidity, funding and collateral within business areas or across the enterprise. As margin requirements grow through more electronic trading and clearing, collateral is now a well established front office activity, whereas before it was an afterthought. Due to this, Transcend is more prevalent than ever, demonstrated through its massive growth in terms of clients, revenues and team size.
Joining the advisory board is Stephanie Dimarco, founder and former CEO of Advent Software, who led the company to IPO and later sale to SS&C; John Willian, a 28 year veteran of Goldman Sachs who held variety of roles including head of global prime services; Scott Freidenrich, previously was the treasurer at BNY Mellon and has also held senior roles at Citigroup. These advisors are joining Jon Beyman, who acted as Managing Director, and Global Head of Operations and Technology of Citigroup’s Institutional Client Group and various other firms.
“We’ve carefully selected our advisory team, and the expertise they bring to the table will help drive the next phase of growth for Transcend,” says Bimal Kadikar, founder and CEO of Transcend, in a statement. “We have accomplished a lot in the last few years and we’re looking forward to expanding our boundaries with the help of our new advisors.”
In the past three years, Transcend has established connectivity across all major triparty agents and CCPs to provide a holistic optimization platform for the industry; and launched Eligibility Central, a unifying platform which empowers clients to accelerate critical collateral functionality such as optimization or mobilization.