Clear Street names Pawar as Chief Risk Officer
26 June 2024 US
Image: Clear_Street
Clear Street has appointed Atul Pawar as chief risk officer. He will officially enter his new role in July.
Based in New York, Pawar will oversee the firm’s risk management firmwide, across its Institutional and Active divisions.
In Clear Street’s Institutional business, the company provides securities financing and lending, clearing and settlement, execution, as well as professional clearing and custody.
Its Active division provides active traders a suite of products and services designed for speed, efficiency and reliability, the firm says.
He joins the firm after two decades at Goldman Sachs, where he was most recently head of US prime, clearing, futures commission merchant (FCM), and counterparty risk.
During his time at Goldman Sachs, Pawar focused on prime brokerage, execution and clearing, and FCM under the Global Banking and Markets division, where he oversaw market and liquidity risk in portfolios across various asset classes.
Prior to managing the risk team, Pawar was a member of the company’s Strategies group, where he led the effort of building portfolio analytics and stress tests.
Commenting on the appointment, Clear Street CEO and co-founder Chris Pento says: “Risk management is the most important part of our value proposition and was the crux of why we founded this business six years ago.
“The financial industry still operates on infrastructure built in the 1970s, which can lead to costly errors, reduced profit margins and unattractive risk profiles. Atul’s experience and veteran status at a premier competitor speaks to our increasing presence and forward growth trajectory in the industry.”
Ahead of starting his new role next month, Pawar comments: “Clear Street is challenging the status-quo by building a modern, cutting-edge, centralised technology platform unlike any other available on the street. I look forward to contributing to the company's expansion plans and continued success.”
Based in New York, Pawar will oversee the firm’s risk management firmwide, across its Institutional and Active divisions.
In Clear Street’s Institutional business, the company provides securities financing and lending, clearing and settlement, execution, as well as professional clearing and custody.
Its Active division provides active traders a suite of products and services designed for speed, efficiency and reliability, the firm says.
He joins the firm after two decades at Goldman Sachs, where he was most recently head of US prime, clearing, futures commission merchant (FCM), and counterparty risk.
During his time at Goldman Sachs, Pawar focused on prime brokerage, execution and clearing, and FCM under the Global Banking and Markets division, where he oversaw market and liquidity risk in portfolios across various asset classes.
Prior to managing the risk team, Pawar was a member of the company’s Strategies group, where he led the effort of building portfolio analytics and stress tests.
Commenting on the appointment, Clear Street CEO and co-founder Chris Pento says: “Risk management is the most important part of our value proposition and was the crux of why we founded this business six years ago.
“The financial industry still operates on infrastructure built in the 1970s, which can lead to costly errors, reduced profit margins and unattractive risk profiles. Atul’s experience and veteran status at a premier competitor speaks to our increasing presence and forward growth trajectory in the industry.”
Ahead of starting his new role next month, Pawar comments: “Clear Street is challenging the status-quo by building a modern, cutting-edge, centralised technology platform unlike any other available on the street. I look forward to contributing to the company's expansion plans and continued success.”
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