Open source risk management outfit OpenGamma has named Mark Beeston as its new chairman and appointed Cristobal Conde to its board of directors as it leans on heavyweight industry support to move the company forward.
The London-based company provides standardised margin calculation software to help banks better assess their capital requirements and risk exposure in the evolving over-the-counter derivatives markets.
An OpenGamma board member since 2012, Beeston has a twenty-year background in the industry, culminating in a four-year stint as chief executive of Icap's post-trade business. He takes over the chair from OpenGamma co-founder Kirk Wylie, who is taking up a new position as head of innovation.
Mas Nakachi, OpenGamma CEO says Beeston's experience and his "deep understanding of banking and financial technology make him the ideal person to lead OpenGamma's next phase of growth".
Beeston is joined on the board by Cristobal Conde, former CEO of SunGard.
"My 30-year career has been dedicated to harnessing technology to deliver more efficient solutions to the financial industry," says Conde. "During this time there were only a few initiatives which could be considered truly transformative. OpenGamma's approach to risk and margin measurement is one of them."