Post-trade processing solutions provider Omgeo has appointed Cornelia ‘Nellie’ Dagdag as executive director of sales and solution delivery.
Dagdag is tasked with accelerating the growth of Omgeo’s community of investment managers, broker/dealers and banks located in the Asia-Pacific region. She will also oversee Omgeo Asia’s advisory boards, which are comprised of Omgeo clients that provide strategic guidance to the firm.
Based in Manila, Philippines, Dagdag will report to Tim Keady, head of sales and solution delivery at Omgeo.
“The last financial crisis continues to have a profound effect on the revenue streams, cost structures and profitability of the asset management industry globally,” said Keady. “Asian buy-side firms are under pressure to stay competitive, reduce the cost of trade failures and minimise operational risk and they see automation as one effective way of tackling the issue. The doubling of our Asia-Pacific client community over the past years is indicative of this trend.”
With almost 30 years’ experience in technology and financial services, Dagdag was previously chief operating officer of the clearing and settlement entity for the Philippine currency and fixed income markets at the Philippine Securities Settlement Corporation. She has also served as president and chief executive of the Philippine Central Depository, where she established the central securities depository (CSD) in that country.
“Further expansion in Asia-Pacific continues to be a key priority and we remain focused on embedding Omgeo within local infrastructure through strategic partnerships with central counterparties and CSDs,” added Keady. “Nellie’s wealth of local knowledge and expertise, as well as her proven track record in the post-trade industry, will be invaluable to Omgeo’s growth in the region.”
Dagdag said the automation of post-trade processes had continued to attract growing attention from both global and local buy and sell-side firms.
“It is an interesting time in the post-trade industry,” she said.