The leading provider of post-trade securities and derivatives processing technology has announced a number of senior hires, including several senior appointments made across Professional Services, Client Support, and Sales functions. The doubling of its Hong Kong office is in line with the firm’s strategy to keep up with business growth in the region.
Torstone’s growth in Asia is part of a larger, global expansion.During 2019, Torstone announced the opening of a new office in Toronto and doubled the size of its London headquarters. In Asia, Torstone has recently been selected by Saxo Bank Japan for its multi-asset, multi-entity cloud-based platform covering trade capture, confirmation, settlement, accounting, corporate actions, reconciliation, and regulatory reporting. The Inferno platform entered
its first phase of migration.
Among the hires is Simon Tang, an industry veteran with 18-years of experience who joins Torstone as the Head of Professional Services APJ, after implementing post-trade projects throughout his career as consolidating an in-depth knowledge of customer needs in Asian capital markets that will help Torstone continue to expand its presence in Asia. The firm’s cloud-based risk management platform, RiskMine, is also being launched into the Asian market.
Gordon Russell, Head of Asia at Torstone, commented: “Given the region’s rapid growth and evolving regulatory environment, Asian firms are well-positioned to benefit from greater operational efficiencies and reduced risk in their post-trade reporting processes, and that is exactly what Torstone’s solutions provide. Our current strong growth in Asia reflects the market’s increased focus on reducing their IT footprint and cost while increasing the automation of daily operations to be able to offer more to their end clients.”
Brian Collings, Chief Executive Officer at Torstone Technology, said: “2019 has been a phenomenal year for growth, as Torstone strengthens its footprint in Asia and continues to expand our global presence across all our strategic markets in Asia, Europe, and North America. We look forward to working closely with dynamic, fast-paced Asian financial institutions that are focused on growth and efficiency through leveraging new technology.”
Earlier this year, Torstone acquired Percentile, a provider of real-time, cloud-based risk and compliance technology to global financial markets, in order to add its risk management solution to its platform and allowing Torstone to offer a full-service, cross-asset, global post-trade solution which includes risk and compliance. Torstone expects the deal to open doors to an expanded client base looking for an all-in-one solution that is able to adapt as the
markets continue to evolve.
In May, Torstone was granted the status of Financial Services Competency Partner in the Amazon Web Services (AWS) Partner Network, a testament to its years of success in engineering Inferno to utilize VPC technology to provide security and availability to its clients.