TriOptima announces that Per Sjoberg assumes CEO role as TriOptima realigns its organization to reflect the rapidly-changing OTC markets
24 March 2011
TriOptima announced that Per Sjoberg, EVP and co-founder, will assume the role of Group CEO effective May 4th as TriOptima realigns along business lines to match the pace of change in OTC derivative market, regulatory and customer priorities. Brian Meese, CEO and co-founder of TriOptima, will step down as Group CEO, continuing as a Non-Executive director on TriOptima’s Board.
TriOptima will create two business lines with independent global management for each of its key service areas: triReduce, the multilateral compression service and triResolve, the counterparty risk management service. Peter Weibel will serve as CEO of triReduce and Raf Pritchard will serve as CEO of triResolve. Each CEO will direct sales, service management and business management activities for the service bringing the company closer to the markets and customers it serves.
Mireille Dyrberg will assume the newly-created position of Chief Operating Officer responsible for infrastructure functions including legal, marketing, industry relations, human resources, administration, finance and accounting.
Asia Pacific will continue to be organized and run regionally, with Yutaka Imanishi as CEO implementing the priorities and goals for each service as determined by the business line CEOs.
“Brian has led TriOptima’s success over the past 10 years, and we welcome his continued support,” said Mark Beeston, CEO of ICAP Portfolio Risk Services. “The strong executive team that he built will continue to drive the company forward; and with Per in the role of Group CEO, there will be a seamless management transition. Realigning TriOptima’s organization around business lines will position the company to keep up with the rapid pace of change in our industry. This is a very exciting time for TriOptima, and we expect our businesses will be well-positioned to take advantage of the opportunities that are emerging as the new business landscape evolves.”
TriOptima, an ICAP Group company, is the award-winning provider of OTC derivatives infrastructure services including triReduce, triResolve, and the Global OTC Derivatives Interest Rate Trade Reporting Repository (the Rates Repository).
triReduce, the portfolio compression service for OTC derivative dealers, pioneers technology that eliminates risk and reduces operational and capital costs. Serving over 150 bank and non-bank subscribers worldwide including the major local and global dealers in derivatives, triReduce is a critical tool for maintaining post trade processing efficiency. triReduce offers compression cycles in single name and index CDS swaps worldwide, IRS swaps in 23 currencies and a range of energy derivatives.
triResolve is a network community service that provides counterparty exposure management services including proactive portfolio reconciliation of OTC derivative portfolios, margin call management, and dispute resolution. Used by global dealers, regional banks and buy-side firms, triResolve currently handles 6.6 million trades representing over 75% of all non-cleared OTC derivative transactions globally. The service benefits trade control, settlement, documentation, collateral and counterparty credit risk functions.
TriOptima maintains offices in London, New York, Singapore, Stockholm, and Tokyo.
For further information please contact:
Susan Hinko, Global Head of Industry Relations
Tel: + 1 646 744 0410
Candice Adam, Argentus PR
Tel: +44 7771 906 073