Mutual fund transaction service expands Calastone management team
NEWS | 24 September 2008
Business Development and ClientServices Directors both join Calastone from NYX Technology (ex AEMS)
Calastone Limited, the independent transaction service for the mutual funds industry, today announced the expansion of its senior management team to include two new senior industry hires, both of which joined on 1 September 2008.
The two new hires will join the Board of Calastone reporting to the Managing Director Kevin Lee (joint- founder) and working alongside the management team of Ian Taylor (Chief Operating Officer) and Campbell Brierley (Chief Technology Officer).
Ken Tregidgo has joined as Business Development Director. Ken joins from his role as Global Head of Strategy and Business Development at NYX Technology, previously Atos Euronext Market Solutions (AEMS).
Peter Hermans joins as Client Services Director also from NYX Technology where he provided exchange trading solutions to third party exchanges.
Calastone is Europe’s only independent transaction service for the mutual funds industry. Calastone is designed to create a single transaction platform for mutual fund providers, distributors and transfer agents. Calastone presents, for the first time, the opportunity for the whole mutual fund market to become fully electronic. Through a series of adaptors at the heart of the Calastone Transaction Network (CTN), participants are able to send or receive instructions using their preferred means of communication, each translated into electronic messages. Also, for the first time, participants can track their trades and manage exceptions on a real-time electronic basis throughout the transaction lifecycle. Real-time tracking through Calastone’s execution management system helps firms reduce not only their costs but also operating risks.
Commenting on the new appointments, Kevin Lee, joint-founder and Managing Director of Calastone Limited said, "We have designed, developed and launched a robust and effective transaction network enabling every organisation in the funds market to benefit without the need to change their incumbent technology. We are actively growing both the list of funds available, from a growing list of providers, and the list of fund distributors and transfer agents.
"Core to the growth of the organisation has been the need to expand our management team. Ken and Peter have highly regarded track records in business development, client relationship management and project delivery. I am delighted to welcome them to the team and look forward to working with them both."