AlgoTrader appoints new operating chief amid US expansion

Richard Chmiel will lead AlgoTrader’s growth in the US with a focus on cryptocurrencies.

Swiss algorithmic trading services provider AlgoTrader has appointed a new chief operating officer in New York as it looks to expand its business in the US.

Richard Chmiel joins AlgoTrader from RS Metrics where was formerly CEO and has previously worked in various senior roles at firms like Bloomberg and OneTick.

As COO, Chmiel will manage AlgoTrader’s global sales, business development, client success and marketing activities, with a particular focus on the North America region and cryptocurrencies.

“I was really attracted by AlgoTrader’s comprehensive platform and proprietary technology used by the most discerning quantitative trading firms,” Chmiel said of his appointment.

“This company has a tremendous amount of momentum and I’m looking forward to bringing my skill set to help further its rapid growth.”

Earlier this year, AlgoTrader raised CHF 1.4 million in a funding round which is being used to lead the firm’s global expansion and multi-asset algorithmic services including for cryptocurrencies like Bitcoin.

The firm introduced its algorithmic trading service for Bitcoin trading in May 2017 as it sought to provide institutional investors with the opportunity to trade cryptocurrencies on a quantitative basis.

Andy Flurry, CEO and founder of AlgoTrader, said Chmiel will help guide the firm’s growth and develop its brand.

“With his broad market knowledge and variety of experiences mixed with his extensive network of contacts in the industry, Richard will be guiding some of our most pivotal decisions in our upcoming growth strategies,” Flurry added.