Pirum Systems grows SFTR team, again
25 November 2019 London
Image: Shutterstock
Pirum Systems has strengthened its Securities Financing Transactions Regulation (SFTR) team with four new hires.
The EU's SFTR, the first phase of which is due to come into force in April 2020, will require financial institutions and other entities to report their securities financing transactions to a registered trade repository for the first time in a bid to increase market transparency and expose risks.
The final details of the reporting requirements are set to be revealed in the regulation’s level three text due to be published by the European Securities and Markets Authority in December.
Ahead of SFTR's go-live, Pirum has welcomed Glenn Baldwin, Payal Lakhani, James Cosh and Pradeep Rana to its ranks.
Baldwin brings 15 years of securities finance expertise and joins from J.P.Morgan, as well as bringing experience from roles at Goldman Sachs and eSecLending.
Lakhani makes the move from Citi where she served as part of its risk and oversight, global corporate actions, business for the past two years.
Meanwhile, Cosh boasts a 20 years of experience in product post trade businesses from roles at Deutsche Bank, Nomura, Leman Brothers and Saxo Bank.
Finally, Rana brings a prime brokerage skillset, having worked at J.P.Morgan for the past seven years as a prime brokerage client service manager.
All four will report to Duncan Carpenter, Pirum’s head of SFTR.
As part of its SFTR solution, Pirum has partnered with IHS Markit and it is understood these new hires will bring their combined SFTR team more than 55 strong.
Most recently, the joint solution saw the addition of a unique trade identifier sharing system for third-party firms.
Commenting on the new hires, Pirum COO Phil Morgan said: "The addition of these high calibre individuals to our already highly respected SFTR team, means Pirum remain fully committed and resourced to help our clients as they ramp up on-boarding, implementation and testing.”
“Our joint solution with IHS Markit has well over 60 clients mandated, with a further 20 anticipated to provide the green light in the coming weeks.”
The EU's SFTR, the first phase of which is due to come into force in April 2020, will require financial institutions and other entities to report their securities financing transactions to a registered trade repository for the first time in a bid to increase market transparency and expose risks.
The final details of the reporting requirements are set to be revealed in the regulation’s level three text due to be published by the European Securities and Markets Authority in December.
Ahead of SFTR's go-live, Pirum has welcomed Glenn Baldwin, Payal Lakhani, James Cosh and Pradeep Rana to its ranks.
Baldwin brings 15 years of securities finance expertise and joins from J.P.Morgan, as well as bringing experience from roles at Goldman Sachs and eSecLending.
Lakhani makes the move from Citi where she served as part of its risk and oversight, global corporate actions, business for the past two years.
Meanwhile, Cosh boasts a 20 years of experience in product post trade businesses from roles at Deutsche Bank, Nomura, Leman Brothers and Saxo Bank.
Finally, Rana brings a prime brokerage skillset, having worked at J.P.Morgan for the past seven years as a prime brokerage client service manager.
All four will report to Duncan Carpenter, Pirum’s head of SFTR.
As part of its SFTR solution, Pirum has partnered with IHS Markit and it is understood these new hires will bring their combined SFTR team more than 55 strong.
Most recently, the joint solution saw the addition of a unique trade identifier sharing system for third-party firms.
Commenting on the new hires, Pirum COO Phil Morgan said: "The addition of these high calibre individuals to our already highly respected SFTR team, means Pirum remain fully committed and resourced to help our clients as they ramp up on-boarding, implementation and testing.”
“Our joint solution with IHS Markit has well over 60 clients mandated, with a further 20 anticipated to provide the green light in the coming weeks.”
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