Portware, the leading provider of global multi-asset trading solutions, today announced changes to its senior management team. Alfred Eskandar joins Portware as Chief Executive Officer, while Scott DePetris, currently Chief Operating Officer, becomes President and COO effective immediately.
Founders Eric Goldberg and Ary Khatchikian will chair the newly formed Board. The new management structure adds critical strategy, sales and marketing expertise while streamlining operations to better manage Portware's explosive growth and global expansion.
"Alfred's creativity and strategic thinking is amongst the best in the industry, and he is a proven leader," said Eric Goldberg, Founder and Co-Chairman, Portware. "These traits and his impressive track record helping companies dominate their market and maximize their growth potential make him a perfect fit with the Portware vision and culture, and we couldn't be more thrilled to have him on our team."
Commenting on DePetris' promotion to President and COO, Ary Khatchikian, Founder and Co-Chairman, Portware, said, "Scott has been a driving force in Portware's success for over 10 years and has held several key roles within the firm. His talent as a business manger and organizational leader will be invaluable as we forge ahead into new markets and asset classes."
Eskandar is a recognized industry leader with proven experience driving hyper-growth strategies for market-defining financial services and technology firms. He joins Portware from Liquidnet, the global institutional trading network, where he was a founding employee and instrumental in cultivating many of the firm's initial and now long-term businesses. Most recently serving as Head of US Equities, Eskandar held several critical business roles during his Liquidnet tenure. He initially served as Head of Marketing to shape the firm's global brand identity, before moving to become Global Head of Corporate Strategy, overseeing all strategic initiatives, alliances and investments. While at Liquidnet, Eskandar led the company's acquisition of Miletus Trading, LLC, a leading quantitative and program trading broker dealer, becoming President and Chief Executive Officer during its integration.
"Ary, Eric and their team are pioneers in trading automation. Together, they have built a truly impressive global business by delivering highly customizable and sophisticated solutions to the world's largest and most demanding institutions," said Alfred Eskandar, CEO, Portware. "Our new cloud platform now enables institutions of all sizes, from around the world, to benefit from Portware's ingenuity faster while still receiving the exceptional customer service that has become Portware's hallmark. This is an exciting time in the company's history and I'm honored to be part of it."
"Execution management and electronic trading is at an early stage of its lifecycle. In reality, electronic execution is about making intelligent decisions based upon a host of signals," said Larry Tabb, CEO, TABB Group. "As financial reform forces greater transparency, an increasing amount of electronic decisions will need to be made based on a wider array of actionable signals. Portware is in a great position to leverage and extend these trends."
TABB continued, "Portware is one of the few platforms that enable almost complete flexibility in developing, testing and deploying electronic trading models. Bringing in Alfred as CEO, with a new and slightly different perspective, will help Portware expand its franchise to different market participants, geographies and asset classes. Alfred is a charismatic leader who was instrumental in helping Liquidnet build and sustain their franchise. He will be a great fit at Portware, and we expect him to help extend Portware's strong footprint across the financial markets."