Open source analytics start-up OpenGamma has recruited a number of industry veterans as it prepares for a major sales push in 2013.
Founded in 2009, OpenGamma's flagship technology product, the OpenGamma Platform, is designed to allow financial services firms to unify their calculation of analytics across the traditional trading and risk management boundaries.
The company, headquartered in London and with an office in New York, recently scored a £15 million Series C funding round led by Icap and joined by Euclid Opportunities, with follow-on investments from previous investors Accel Partners and FirstMark Capital.
With funding in place and the launch of the OpenGamma Platform 1.0 in April, the company has now moved to recruit high calibre sales talent, roping in Mas Nakachi as global COO and CEO of North America and Hugh Stewart as global head of sales.
Nakachi joins OpenGamma's senior management team from Calypso Technology, where he was most recently director of business development for the rates, fixed-income and credit business. In this position, Nakachi was responsible for ecosystem development, marketing, client support and new product development initiatives, as well as strategic client acquisition for Calypso's largest business solution segment. Based in New York, he will oversee the company's North American operations and work with the London-based executive team to manage all operational areas of the business.
Nakachi is joined at the top table by Hugh Stewart, an industry veteran with more than thirty years experience. Prior to joining OpenGamma, Stewart most recently served as sales director at SmartStream Technologies and his CV includes stints at Bankers Trust, C*ATS Software, Algorithmics and QuIC Financial.
Kirk Wylie, co-founder and CEO of OpenGamma, says: "Mas and Hugh both offer invaluable industry knowledge and proven experience, and share our vision and enthusiasm to change how firms view their risk infrastructures, navigate today's volatile regulatory environment, and access and deploy the most cost-effective, powerful risk analytics tools available."
Finextra caught up
with Wylie at this year's Sibos in Japan, where he discussed the firm's involvement in the Innotribe start-up challenge and the growth of OpenGamma over the past three years.