Reuters has appointed industry veteran and former GSTPA executive Tony Kirby as group marketing director responsible for the company's global straight-through processing (STP) strategy, further demonstrating CEO Tom Glocer's commitment to the STP marketplace.
He will take up his post on 28 January 2002 and will report to Alex Hungate, Reuters chief marketing officer.
Kirby is charged with engineering and driving an enterprise-wide strategy for Reuters participation in STP across asset classes. Based in London, he will focus on forging strategic alliances with key providers and industry groups in order to support organisations seeking better information, integration and transaction management, says the company.
Kirby joins Reuters from the role of chief strategy officer at bolero.net, which he joined in 2000. He has previously worked as director of securities, commodity and treasury markets at Swift, and executive director of GSTPA (Global Staight Through Processing Association). He has also held positions with Merrill Lynch, Instinet, and Reuters.
Alexander Hungate, Reuters chief marketing officer, comments: "Achieving true STP is one of the most fundamental challenges facing the financial services industry. The T+1 deadline in the US, the need for ever increasing operational efficiency, and the drive to reduce costs are all focusing attention on this critical issue."
TowerGroup estimates that the industry will spend $19 billion on STP solutions over the next four years.