EquiLend announces new CEO
23 October 2024 US
Image: EquiLend
EquiLend has welcomed the appointment of Rich Grossi as its new chief executive officer.
Grossi brings a wealth of experience in fintech, operational excellence, and strategic leadership to his new role.
According to the firm, this appointment positions EquiLend to accelerate its growth and innovate within the securities finance market.
Grossi previously served as the CEO of ION Corporates, a suite of trading, risk management, and workflow automation solutions.
During his tenure, he led ION to become a strong player in treasury and commodity management, consolidating several acquisitions, innovating the product suite, and delivering growth for the business across their customer base.
Earlier in his career, Grossi held various leadership positions at OpenLink, where he served as CEO, chief financial officer, chief product and technology officer, and executive vice president of global operations.
The firm believes his “unique blend of product, operational, and financial experience, along with his customer-centric philosophy” will be key assets as the firm continues to expand its market presence.
The news follows Brian Lamb’s departure from EquiLend in September. Lamb is one of the industry experts who conceptualised and designed the EquiLend platform in 2000 and is named as a co-inventor on the company’s technology patents.
Commenting on his appointment, Grossi says: “I’m honoured to join EquiLend at such a pivotal time for both the company and the securities finance industry.
“EquiLend’s unique technology platform and differentiated suite of solutions enable a level of transparency, automation, and efficiency that is unmatched in the market. I look forward to working closely with the team to build on this foundation and help clients gain even more value from our solutions.”
Ryan Harper, general partner at Welsh, Carson, Anderson & Stowe (WCAS), EquiLend’s largest shareholder, adds: “Rich’s deep expertise in trading, treasury, and risk management software, along with his successful track record of leading and growing companies in the fintech space, make him the ideal leader to take EquiLend into its next phase of growth.”
Paul Nigrelli, CFO at EquiLend, comments: “[Rich’s] deep product expertise and customer-focused mindset will be transformative for EquiLend as we drive further automation of the securities finance industry. Rich’s experience and leadership will enable us to build on our more than 20-year legacy of delivering cutting-edge solutions that redefine market efficiency and connectivity.”
WCAS, a private equity firm, recently completed its majority acquisition of EquiLend. At the time of the announcement, WCAS said it committed a further US$200 million investment to support growth initiatives and acquisitions by EquiLend.
Grossi brings a wealth of experience in fintech, operational excellence, and strategic leadership to his new role.
According to the firm, this appointment positions EquiLend to accelerate its growth and innovate within the securities finance market.
Grossi previously served as the CEO of ION Corporates, a suite of trading, risk management, and workflow automation solutions.
During his tenure, he led ION to become a strong player in treasury and commodity management, consolidating several acquisitions, innovating the product suite, and delivering growth for the business across their customer base.
Earlier in his career, Grossi held various leadership positions at OpenLink, where he served as CEO, chief financial officer, chief product and technology officer, and executive vice president of global operations.
The firm believes his “unique blend of product, operational, and financial experience, along with his customer-centric philosophy” will be key assets as the firm continues to expand its market presence.
The news follows Brian Lamb’s departure from EquiLend in September. Lamb is one of the industry experts who conceptualised and designed the EquiLend platform in 2000 and is named as a co-inventor on the company’s technology patents.
Commenting on his appointment, Grossi says: “I’m honoured to join EquiLend at such a pivotal time for both the company and the securities finance industry.
“EquiLend’s unique technology platform and differentiated suite of solutions enable a level of transparency, automation, and efficiency that is unmatched in the market. I look forward to working closely with the team to build on this foundation and help clients gain even more value from our solutions.”
Ryan Harper, general partner at Welsh, Carson, Anderson & Stowe (WCAS), EquiLend’s largest shareholder, adds: “Rich’s deep expertise in trading, treasury, and risk management software, along with his successful track record of leading and growing companies in the fintech space, make him the ideal leader to take EquiLend into its next phase of growth.”
Paul Nigrelli, CFO at EquiLend, comments: “[Rich’s] deep product expertise and customer-focused mindset will be transformative for EquiLend as we drive further automation of the securities finance industry. Rich’s experience and leadership will enable us to build on our more than 20-year legacy of delivering cutting-edge solutions that redefine market efficiency and connectivity.”
WCAS, a private equity firm, recently completed its majority acquisition of EquiLend. At the time of the announcement, WCAS said it committed a further US$200 million investment to support growth initiatives and acquisitions by EquiLend.
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