The former CEO of Bloomberg Tradebook has been appointed president of trading technology provider Itiviti following its acquisition by Broadridge Financial Solutions.
Ray Tierney joins Itiviti in the senior role one month after Broadridge completed its $2.5 billion takeover of the firm to expand its capital markets offering. Rob Mackay, who has been CEO of Itiviti since 2019, has been appointed senior advisor.
Tierney is considered an electronic trading expert having held various senior leadership positions at major institutions.
He was formerly CEO of Bloomberg Tradebook and global CEO of trading solutions at Bloomberg LP. As part of the role, he led the design, development and operations of the firm’s multi-asset, buy- and sell-side order management system (OMS).
Prior to Bloomberg, Tierney spent 18 years at US investment bank Morgan Stanley where he oversaw distribution teams in the securities division and served as global head of trading and execution in the investment management division.
Broadridge said Tierney’s extensive experience on both the buy and sell-side would help drive the growth of Broadridge’s front-office solutions at Itiviti following the acquisition.
“Ray is a proven industry leader and the perfect person to build out, scale and drive sustainable global growth as he oversees the extension of our capabilities into the front-office and the deepening of our multi-asset class solutions,” said Tim Gokey, CEO at Broadridge.
“Ray’s addition to our leadership team represents another important step in our continued journey to grow our capital markets franchise and capitalise on the significant opportunity to serve our clients’ full trade life cycle from order to settlement.”
The appointment of Tierney follows the recent appointment of Ian Strudwick as head of Asia-Pacific, to support Broadridge’s expansion into the region following the acquisition of Itiviti.
“I am proud of the milestones Itiviti achieved over the last few years, capped off by the Broadridge acquisition. Ray is the ideal leader to continue to grow and scale the business, leveraging his wealth of capital markets experience to take the team and business to the next level,” said Mackay.