ParAccel take on Minder 17 May 2011 Campbell Reporter: Steven Lafferty
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ParAccel, Inc. has appointed Minder Cheng to its strategic advisory board. Cheng brings more than two decades of experience as a pioneer and leader with several of the world’s leading financial services organisations to ParAccel and will work directly with the company’s executive team to help expand its value within this critical industry.
“The 2007 financial crisis illustrated that global financial services companies require sophisticated technologies that can keep up with the growing volumes of data and the complexities of extreme financial analytics,” said Minder Cheng. “Technology innovators like ParAccel are enabling these companies to solve the challenge of implementing effective risk management controls across all of their financial instruments and meet the strict compliance requirements of new regulations such as Dodd Frank and Basel III. I am excited about joining the strategic advisory board at ParAccel and helping the company develop ideal technology frameworks for the world’s leading financial services companies. Many of these firms have already adopted the ParAccel Analytic Database as a key technology for running their business.”
Cheng has spent his career in strategic management roles at the world’s leading financial institutions. Until July 2010, Cheng was with BlackRock in San Francisco as chief investment officer for index equity and capital markets as well as a member of the firm’s operating committee. Cheng joined BlackRock following its 2009 acquisition of Barclays Global Investors (BGI), where he was a member of the firm’s executive committee and worked in a variety of positions for 10 years, including as chief investment officer of BGI’s equity and capital markets worldwide. Within this critical role, he was responsible for active equity, index equity, transition management, securities lending and cash products, as well as securities finance, corporate governance, and equity, foreign exchange and futures trading activities. Cheng has also held research, strategy and proprietary trading roles at Convergence Asset Management in Connecticut, Sumitomo Finance International in London, Salomon Brothers in Tokyo, and the New York Stock Exchange in New York. In addition to serving on ParAccel’s strategic advisory board, Cheng serves on the board of directors at Investment Technology Group, a leading agency research broker and financial technology firm.
“From the beginning, the financial services industry has been a critical focus for ParAccel and we continue to maintain a laser focus on the requirements of the leaders in this hypercompetitive and complex market,” said Chuck Berger, CEO at ParAccel. “Minder has unmatched expertise and experience in equities and capital markets and will be valuable in helping us further our leadership in delivering the ideal solutions to solve the most complex analytic and big data challenges.”
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