OTC Valuations (OTC Val), a provider of independent valuations for derivatives and other financial products, has announced that Ian Blance is joining the company as vice president of strategic sales. Blance will be responsible for driving business development for OTC Val globally. He has over 20 years' experience in the financial markets, most recently at Interactive Data.
“We are looking forward to Blance joining OTC Val and leading the development of this growing business in Europe, North America, and abroad," comments Bob Sangha, managing director, OTC Val. "We believe that his experience in the valuations industry will be an asset to our business as it develops over the coming few years,” he adds.
Over-the-counter (OTC) derivative activity has explanded in recent years, points out Blance. The Bank for International Settlements recently reported that notional amounts outstanding of OTC derivatives stood at $516 trillion at the end of June 2007, an annualised compound increase of 33% over the previous three years.
"The development of independent valuations of derivatives has struggled to keep up with this growth and the recent market turmoil only highlights the need for a robust and objective source. Having spent some time assessing the evolving derivative valuations market, I believe that OTC Val offers a service to meet the challenges that the industry now faces,” explains Blance.