Decentralised Financial Market Infrastructure (dFMI) business Bosonic has hired a former Goldman Sachs partner, and more recently global head of LCH ForexClear, as its global head of clearing and derivatives.
Paddy Boyle joins the FinTech looking to deliver a real-time clearing and settlement service for crypto and digital assets to institutional clients.
He will be charged primarily with further building out the clearing capabilities for the firm and enabling optimal institutional investor adoption amid a continuing trend.
Boyle brings two decades plus of financial markets experience to Bosonic. He spent 16 years at Goldman Sachs as global head of FX options, co-running businesses on hybrid products combining FX with equities, precious metals, oil, and interest rate derivatives desks.
More recently, Boyle was a managing director at LCH and global head of ForexClear, the London Stock Exchange’s FX clearing service, where he increased volumes 15x in less than five years, according to Bosonic.
He also acted as consulting partner at Turing Experts where he was sole expert witness on a large regulatory investigation in the FX market.
“Bosonic has built a unique and much-needed platform and I am excited to help build out the derivative and clearing functions of the business,” said Boyle.
The appointment comes two months after former BNY Mellon, HSBC and Euroclear strategy and innovation specialist Jason Nabi joined Bosonic as chief revenue officer.
“We could not have asked for a more qualified individual to lead our charge into the fast-growing derivatives arena and Paddy brings a vital new dimension to our offering and value proposition,” said Rosario Ingargiola, Bosonic CEO, who Boyle will report into. “Bringing on someone with his calibre and proven track-record to follow on from Jason joining us demonstrates our clear intent to be a leading player and the pent-up demand for what we have to offer.”