Omgeo adds Marson, Brown to board; strikes deal with SmartStream

Omgeo adds Marson, Brown to board; strikes deal with SmartStream

Trade management utility Omgeo has announced the addition of Michael Brown, managing director at Barclays Global Investors, Europe, and Jacques-Philippe Marson, president and CEO of BNP Paribas Securities Services, as board-level industry representatives.

The appointment of Brown and Marson increases the total number of Omgeo board members to 11.

At Barclays Global Investors, Brown is responsible for the management of operations, technology, and administration for Europe. Prior to moving to London in 1997, he was responsible for the firm's global custody, clearing, and securities lending operations. He also serves on the Swift-led Securities Steering Council.

A former JP Morgan, Swift and Cedel staffer, Marson joined Paribas in July 1998 from State Street where he was executive vice president and head of Global Investor Services Group.

Robert McGrail, Omgeo's chairman, says of the incomers: "Their extensive backgrounds in the global securities industry will help ensure that Omgeo is responsive to industry needs as it upgrades its clients to a new more efficient trade processing model."

In a seperate initiative, SmartStream Technologies is to implement an interface to Omgeo TradeHub via its NT-based reconciliations software for mid-tier investment managers. Under the agreement, SmartStream Technologies' product will compare the reconciliation messages within the TradeHub mailbox with local data from the investment manager's accounting system and provide comparison and exception reports, thus providing a one-stop reconciliation service for mid-tier investment managers.

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