SecFinex, the online marketplace for securities finance, announced the appointment of John Oddie as Chief Executive Officer and Board member.
Commencing in the position today, John brings global market insight and proven ability of developing innovative technology solutions for strategic business needs to SecFinex, leveraging over twenty years experience in the financial services technology business both on the institutional side, working in Tier 1 US investment banks, and most recently on the institutional brokerage side at Instinet Corporation.
Based in NYC, John was CEO of the Global Equities Business at Instinet Corporation, the world’s largest electronic agency securities broker, where he led the division to record sales and market share. He developed the sales, trading, clearing and technology business in both the institutional and professional brokerage sectors. John was responsible for the US and Asia regions which included over 1600 personnel. As CEO, he was also a member of the Executive Committee. Prior to the CEO role, John was Chief Technology Officer also with Instinet, and based in New York.
Previous roles in John’s career have included: three years at Merrill Lynch International as Global Head of Swaps Technology and then Head of Technology for Europe; Head of Risk Management Systems and Head of Infrastructure at Credit Suisse Financial Products; Head of Development at Smith New Court; and Vice President at Goldman Sachs.
Peter Irons, who has served as Chief Executive Officer since SecFinex’ inception, will become Vice Chairman, a Board position. Peter will remain involved with the firm’s marketing and customer relationship activities. Prior to co-founding SecFinex, Peter had retired from Barclays Capital following a 30 year career.
John Oddie said: “I am looking forward to building on the strong foundation that Peter has established at SecFinex. SecFinex is a ground breaking platform for the securities finance market, and we will continue to expand both geographically and with new product offerings.”
Alan Wood, Chairman at SecFinex said: “We are delighted that John Oddie has agreed to join SecFinex to lead the firm in its next generation of growth. His experience will enable SecFinex to build on its market leading position and his unique combination of skills will help to ensure that SecFinex continues to innovate in the securities financing marketplace.”
“We are also grateful for the integral part that Peter has played in the founding and development of SecFinex to date.”
Currently with 17 institutional lender, borrower and intermediary users, trading activity on SecFinex is steadily increasing with single day trading volumes now averaging over 300 a day with a total of over €6 billion value traded.