DIGITEC has opened its new London office, managed by Stephan von Massenbach who joins the firm as Managing Director, Chief Revenue Officer.
The FX Swaps and NDF pricing and data provider has gone through with the expansion to address a growing number of enquiries from banks and trading desks located in London. T
Stephan von Massenbach will focus on business development and sales strategy, based in London. His 20+ years within the FX industry include working for Lloyds Bank as Head of FX eCommerce, and J.P. Morgan where he was Head of FX eCommerce Sales for Europe.
His most recent roles were as CEO at Modular Financial Technologies and Director at Modular FX, providing specialist FX e-commerce solutions and consultancy to banks and FinTechs.
Peer Joost, COO of DIGITEC, said: “We are very happy to open the London office and welcome Stephan to our growing team. He brings extensive experience of FX eCommerce sales and deep domain knowledge, business development expertise and a wealth of senior industry relationships. As FX swap volumes continue to grow we are seeing an increased demand from banks looking to automate and enhance their market making capabilities. Many of these trading desks and eCommerce teams are in London, making it an obvious location for our sales office.”
Stephan von Massenbach, CRO of DIGITEC, commented: “Modular FX has worked closely with DIGITEC for the past year and I have seen first-hand the positive feedback provided by its 40 global clients. Our London office allows us to accelerate business growth, capture the growing demand for automated FX Swaps and NDF trading and extend product coverage to include pricing Precious Metals, Interest Rates and Crypto assets.”
Peer Joost was recently promoted to Chief Operations Officer, reporting directly to the CEO. In his new role, he is responsible for all business operations.
He was Head of Marketing and Sales for over three years, where he helped increase the sales of his family business roster of FX and MM applications, including a rate aggregator with several sanity checks and blending algorithms, a spreadsheet-based rate engine, a yield curve building tool and editor, a big data rate storage, and a fully automatic FX/MM settlement system.
Most of these applications are offered in the D3 pricing engine for FX Swaps, NDFs and Forwards as well as the DIGITEC / 360T Swaps Data Feed (SDF).
DIGITEC plans to expand to new markets and target regional trading banks, to enhance their market-making capabilities with DIGITEC’s market-leading D3 product and Swaps Data Feed (SDF), a Joint Venture with 360T.