One of the problems with trying to transform Wall Street and capital markets is that neither is very good at being transformed. While you might think that market participants are aggressive adopters of innovative technologies, it is actually hit-and-miss. It is better, goes the old Wall Street adage, to be wrong together, than wrong alone.
The current Web 2.0 wave breaking over financial markets threatens to changle all of this however, reducing costs through better collaboration and better access to inexpensive data. Are hedge funds and money maangers ready? Do they know what’s coming? We’ll talk with a few fund managers about the implications and what’s ahead for them, their business, and their technology suppliers.
Cathleen M. Rittereiser is an alternative investment sales and marketing executive focused on the institutional investor market, particularly foundations and endowments. Cathleen has held sales, marketing and client relationship management positions at leading financial services and investment firms. Her experience includes her current role as Vice President, Marketing for Alternative Asset Managers, LP (AAM) an independent investment boutique specializing in emerging hedge fund managers. Before joining AAM, she handled business development for Symphony Asset Management, an alternative asset management firm owned by Nuveen Investments. Previously, Cathleen marketed financial information and technology services and began her career at Merrill Lynch. Cathleen is the co-author with Larry Kochard, the Chief Investment Officer of the Georgetown University endowment, of Foundation and Endowment Investing: Philosophies and Strategies of Top Investors and Institutions to be published by John Wiley & Sons, Inc. in December 2007. An accomplished public speaker, Cathleen has participated in investment industry conference panels throughout her career on topics ranging from securities valuation to the impact of technology in financial services and has broad knowledge of digital media, social networking and Web 2.0 technology. Cathleen received an AB from Franklin and Marshall College and an MBA from New York University’s Stern School of Business. She lives in New York City.
JP Rangaswami is the Managing Director, Service Design for BT Design – BT Group’s IT design and delivery business. It has total responsibility for designing, building and implementing the IT and business processes, systems, networks (non-Openreach) and technologies. JP is responsible for group operations as well as enterprise management platforms and web technologies. He has extensive international experience and is passionate about delivering outstanding end-to-end customer experience. He has a record for innovation and collaboration that underpins his customer-focused delivery of major global programmes. JP joined BT from Dresdner Kleinwort Wasserstein where he served as Global CIO demonstrating recognised market leadership in the use of innovative tools and techniques. He is a compelling advocate for community-based “opensource” development methods and practices. He is a fervent blogger (www.confusedofcalcutta.com) and a regular speaker at industry events, particularly on innovation and opensource. He was named CIO of the Year by Waters Magazine in 2003, CIO Innovator of the Year by the European Technology Forum in 2004 and is named as one of the top 10 CIOs in silicon.com’s CIO50 list for 2007. He is an Advisory Board member of CAL-IT and a Charter Member of TiE UK, along with memberships of the IoD, the ACM and the IEEE. He is a Fellow of the British Computer Society (BCS) and a Fellow of the Royal Society of Arts (RSA). JP is also a Freeman of the Information Technologists Company (a London City Livery Company, also known as the Worshipful Company of Information Technologists).
Sean Park is a leading independent thinker on the future of financial markets, the author of The Park Paradigm, and the founding partner of Sixth Paradigm LLP, a new advisory and investment firm focusing on the intersection of financial services and technology, organized around the central theme of a new industry paradigm driven by accelerating technological change and the impact of changing social and cultural trends. These include demographic change, globalization and deregulation.
Sean is also a founding investor in innovative companies such as Betfair, WeatherBill, and seedcamp and has extensive experience investing in and advising start-up and high growth companies in addition to over 16 years of experience working at a senior level in capital markets and investment banking. Building businesses has been a key theme throughout his career.
Prior to founding Sixth Paradigm LLP in 2007, Sean worked at Dresdner Kleinwort’s London office as Managing Director and Head of Digital Markets; a business division created in 2005 to develop, deploy and operate a complete suite of electronic/web-based trading, execution and analytical services across the full spectrum of capital markets and investment banking products. He was also a member of the Capital Markets Management Committee.
Sean joined Dresdner Kleinwort in 2000, where he held a series of senior positions in the Credit business including Head of Credit Flow Products. Prior to this, he held several positions such as Head of the European Bond Syndicate at BNP Paribas, having previously traded Ecu eurobonds and French government bonds, and was directly involved in most of the inaugural benchmark bond issues that laid the foundations of the Euro Capital Markets.
He is also a former board Director (and past Chairman) of International Index Company (provider of the iBoxx bond, iTraxx credit derivative and the iBoxxFX currency indices) and a founding Director of Markit Group (the leading industry source for asset valuation data and services supporting independent price verification and risk management in global financial and energy markets.)
Originally from Calgary, Alberta, Sean has a BSc in Materials Science from Rice University in Houston, Texas. He is now based in London.
Finbar Taggit is an anonymous blogger who comments daily on the global Hedge Fund industry via fintag.com. He works in Mayfair, London and has many years Investment Banking and Hedge Fund experience. His irreverent views are often cited in the mainstream media and his mission is to understand why downloading Yahoo market price data is faster than Bloomberg.
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