Fixed income tech specialist Algomi has further expanded its global reach, appointing a new head of Asia Pacific operations to establish the group in Singapore and Hong Kong.
The news comes two months after Algomi chief executive Stu Taylor travelled to Singapore with Mayor of London Boris Johnson as part of a trade delegation to promote fast-growing British businesses.
The newly appointed Asia Pacific head is Jesper Bruun-Olsen who worked as managing director for the North East Asia region for Oanda between 2012 and 2014. Prior to that, he spent 11 years at Tradeweb as managing director for the Asia Pacific region. He has also worked in various positions at Nordea.
Stu Taylor, chief executive officer at Algomi, said in a statement that Bruun-Olsen’s fixed income experience will be useful as the business seeks to expand across the Asia Pacific region.
He added: “Asia Pacific is a strategically important, diverse and exciting marketplace and it is crucial to have an experienced individual on board with practical expertise of operating across multiple jurisdictions.”
Algomi started life in 2012, having been founded by three former UBS employees who identified a potential gap in the market amid concerns about future market liquidity.
Banks have been reducing their bond inventories as a new regulations globally have forced them to hold more cash against the bonds that they hold on their balance sheets. Algomi’s founders believe this creates a window of opportunity and so far has confirmed several big name clients including HSBC and Nomura.