HQLAᵡ welcomes new CFO
01 October 2019 Luxembourg
Image: Shutterstock
Securities lending blockchain platform HQLAᵡ has brought on Geoffrey Arend as its chief financial officer, effective 1 October.
The HQLAᵡ platform for collateral swaps leverages R3’s distributed ledger technology, Corda, to provide liquidity and collateral management solutions for institutional clients in the global securities financing markets.
The solution is being jointly developed with Deutsche Boerse Group.
He will continue to be based in Luxembourg at the HQLAᵡ head office alongside the firm’s CEO Guido Stroemer and COO Nick Short.
Arend makes the move from RMS Luxembourg, a tax and fund administration service provider, where he was a director with responsibility serving an international client base on Luxembourg corporate structures.
Arend joined RMS Luxembourg in 2008 as a senior client advisor, before being promoted to tax and accounting manager in 2011, and finally director in 2014.
He began his career as a junior auditor at PwC in 2006.
The hire comes a week after HQLAᵡ successfully facilitated several securities transactionsby global banks through its blockchain platform for the first time, ahead of its November launch date.
The simulated transactions involved the ownership of baskets of securities residing at Clearstream Banking SA and Euroclear Bank being exchanged without the need for them to be moved across the Bridge, the electronic communications platform normally needed to transmit securities.
Commerzbank and ING were among the market participants that tested the front-to-back trade flow across the multiple layers of the HQLAᵡ operating model.
The HQLAᵡ platform for collateral swaps leverages R3’s distributed ledger technology, Corda, to provide liquidity and collateral management solutions for institutional clients in the global securities financing markets.
The solution is being jointly developed with Deutsche Boerse Group.
He will continue to be based in Luxembourg at the HQLAᵡ head office alongside the firm’s CEO Guido Stroemer and COO Nick Short.
Arend makes the move from RMS Luxembourg, a tax and fund administration service provider, where he was a director with responsibility serving an international client base on Luxembourg corporate structures.
Arend joined RMS Luxembourg in 2008 as a senior client advisor, before being promoted to tax and accounting manager in 2011, and finally director in 2014.
He began his career as a junior auditor at PwC in 2006.
The hire comes a week after HQLAᵡ successfully facilitated several securities transactionsby global banks through its blockchain platform for the first time, ahead of its November launch date.
The simulated transactions involved the ownership of baskets of securities residing at Clearstream Banking SA and Euroclear Bank being exchanged without the need for them to be moved across the Bridge, the electronic communications platform normally needed to transmit securities.
Commerzbank and ING were among the market participants that tested the front-to-back trade flow across the multiple layers of the HQLAᵡ operating model.
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