HelioGraph, the Straight Through Processing (STP) and Financial Messaging specialist, has expanded its North American Operations by appointing Richard Vreeland as its US Chief Operating Officer (COO).
Vreeland will play a key role in HelioGraph’s continuing expansion in North America, building on the success already achieved by the company’s experienced New York based, team. He will oversee business development, sales and marketing initiatives, press liaison and strategic relationships with industry partners.
Like all senior HelioGraph staff, Vreeland has a strong background in securities processing. He previously spent eight years as Director of Client Services at Financial Models Company (FMC) and has worked for Bank of New York and Salomon Brothers.
“Richard’s appointment reflects our strong commitment to serving the needs of the securities industry in North America,” said Amery Thomas, HelioGraph’s CEO.
“The migration to ISO15022, introduction of VMUs, automation of corporate actions and the ongoing move towards T+1 all present great opportunities but also great challenges. As a global leader in STP solutions, HelioGraph is ideally placed to help financial institutions that want to capitalize on these new industry initiatives. To do so, we make a very deliberate effort to employ only the most experienced people in the securities industry, people who have a sound understanding of both its technical and business drivers. Richard’s appointment perfectly encompasses this ethos.”
HelioGraph is experiencing considerable success in North America. Since openingits New York office last July, it has won a series of new US-based clients, including Loomis Sayles, MFS Investment Management and FXall. Other US-based HelioGraph clients include Bank of America, Citicorp and Merrill Lynch.
The US securities industry currently faces important and urgent STP challenges: more immediately, migration to the ISO15022 message standard by November, but also the move to T+1 securities settlement times in 2005 and the arrival of Virtual Matching Utilities (VMUs) such as GSTPA, Omgeo and Sungard.
“HelioGraph is ideally positioned to take advantage of the industry’s push to Straight Through Processing. Its products are well integrated and offer clients a giant leap toward achieving STP and it has unrivalled industry expertise and understanding,” said Vreeland “With ISO 15022 happening this year, T+1 on the horizon, and increasing pressure to manage costs more effectively, HelioGraph offers users STP solutions that meet and far exceeds all of these needs.”
At FMC, Vreeland played a key role in developing the business, and managed the company’s product support, project management and core product implementations. Previously, Vreeland spent several years at Bank of New York and at Salomon Brothers in a variety of roles. He graduated from St. John’s University, NY, with a degree in Finance.