Broadridge Financial Solutions (NYSE:BR), the leading provider of technology-driven solutions for financial services firms globally, today announced that it has appointed Bennett Egeth as President of its newly-expanded Investment Management business.
Building on Broadridge's 2011 acquisition of Paladyne Systems, Inc., this business offers investment managers, global banks, broker-dealers and fund administrators comprehensive solutions for investment management, reference data and risk technology including enterprise-wide order management, portfolio management and reporting.
As part of Broadridge's growing commitment to servicing leading hedge funds, asset managers and asset servicing clients, Paladyne Systems, Inc. will become part of the Broadridge Investment Management business.
Mr. Egeth has a 30-year track record of success growing businesses across diverse financial services institutions. As President of the newly-expanded business, he brings deep knowledge and expertise in helping global investment managers, asset servicing providers, banks and broker-dealers increase revenue and solve problems in complex operating environments.
"Over the last two years, Broadridge has reinforced its commitment to the investment management segment and demonstrated strong growth through the addition of 110 new clients spanning hedge funds, hedge fund administrators and traditional asset management firms," said Charlie Marchesani, President, Global Technology and Operations Solutions, Broadridge.
"By combining Paladyne's investment management, reference data and risk management capabilities, Broadridge can serve the broader needs of investment managers and offer risk and reference data solutions to global banks and broker-dealers," continued Mr. Marchesani.
As part of the move to a broader solution set, Broadridge is also expanding the business's leadership team. In addition to Mr. Egeth's appointment, Lou Longhi joins Broadridge as Global Head of Investment Management Sales based in New York. Mr. Longhi has a successful track record in financial services as a co-founder of SmartStream and most recently as a senior executive at SunGard. In addition, Jonathan Cross will assume the newly-created role of Chief Operating Officer of the business. Based in London, Mr. Cross has been running Paladyne's European and Asian businesses for the last four years.
"We help our clients globally trade all asset classes, allowing them to focus on generating alpha and raising capital. For banks and service providers, we enhance data quality, decision-making, client experience and operating margins," said Mr. Egeth.
The appointment of Bennett Egeth and his team strategically aligns Broadridge with the needs of the hedge fund, asset management and asset servicing industry and underscores the growing importance of data and risk management for global banks and broker-dealers.