BondDesk, a provider of US fixed income trading technology and execution services, has hired its chairman Howard Edelstein as CEO.
Former CEO Kim Bang will leave the company as Edelstein, an operating partner at BondDesk investor Advent International Corporation, takes the reigns alongside his duties as chairman.
This is the latest move in a management re-shuffle of the company, which has also seen the appointments of wealth management veteran Craig Pfeiffer and bond trading expert John Bagley, formerly of UBS.
Chris Egan, managing director at BondDesk said the elevation of Edelstein to CEO would drive a new wave of expansion for the firm.
“We continue to see significant growth ahead in electronic fixed income trading and BondDesk is well positioned to hep its clients capitalise on this opportunity,” Egan said.
“Howard’s track record and experience in financial technology and market structure, combined with the additional wealth management industry verterans Craig Pfeiffer and John Bagley, makes BondDesk uniquely qualified to help its clients navigate a rapidly evolving fixed income trading environment,” Egan said.
Edelstein has held a number of key financial services technology roles. As CEO of Thomson Financial ESG, Edelstein helped overturn a New York Stock Exchange rule, opening up trade confirmation services to commercial companies, which resulted in the creation of Omgeo, now the industry standard global utility for post-trade processing. More recently, as CEO of Radianz, now the financial network services division of BT, Edelstein pushed for industry take-up of cloud-based services.
Founded in 1999, BondDesk introduced one of the first electronic venues for fixed income execution, the BondDesk ATS alternative trading system, which provides broker-dealers with access to live and executable offerings from fixed income dealers.