Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management, today announced the promotion of John Peck to Managing Director of Emea at Numerix where he will oversee all direct sales and pre-sales efforts - driving the day-to-day initiatives of financial engineering, quantitative research and development teams across the region.
Reporting to Joseph Saporito, Executive Vice President of Global Sales, in his new role John will manage Numerix's Dubai, Stockholm, Milan, Frankfurt, Paris and London sales and development office locations. With over twenty years of industry experience managing regional and global sales and product teams, John's expertise spans financial information, analytical solutions and risk management systems for front and back office users across buy side and sell side firms.
"I'm a strong believer in leadership by example; a concept embraced by John as he's helped his organization reach new highs through collaboration, motivation and goal setting. Since joining Numerix in September 2010, John has played a vital role in strengthening Numerix's core client base and partner network throughout the region, contributing to 22% of EMEA revenue growth in 2012 over the previous year," said Steven R. O'Hanlon, Chief Executive Officer& President of Numerix. "Possessing outstanding customer-centric skills combined with a natural ability to lead, John has not only increased loyalty and comradery amongst his colleagues, but has consistently delivered results and improved effectiveness within the organization. We couldn't be happier to announce John's promotion and look forward to his future success in this new role."
With the largest percentage of active clients by region, the demand for Numerix pricing, valuations and risk management expertise has increased throughout EMEA as clients keep a careful eye on evolving market conditions and key regulatory drivers, particularly around Basel III and the management of Counterparty Risk - addressing OIS discounting and its relationship to calculations for CVA (Credit Value Adjustment), DVA (Debt Value Adjustment) and FVA (Funding Value Adjustment). Growing interest in Model Validation has also increased, where the market-standard models and optimized numerical methods at the core of the Numerix CrossAsset analytics platform can be used to validate internal model builds and mitigate model risk associated with incorrect valuation.
"As new opportunities come to light across the Nordics and Central & Eastern Europe, demand for more advanced analytics solutions are also on the rise in Germany, Italy and France - representing a diverse range of computational, quantitative and technological challenges facing today's derivatives market participants," said John Peck, Managing Director of EMEA for Numerix. "As concerns continue to mount over efficiency and accuracy of correct valuations and methodologies to discount derivatives and manage model risk; analytics for real-time pricing and risk management is no longer 'a nice to have,' but a necessary part of an organization's operational infrastructure required to support regulatory change. At Numerix we deliver world-class solutions for achieving speed, accuracy and transparency in managing derivatives - helping clients to better navigate regulatory uncertainty and reduce operational risk across the enterprise."
"Going forward Numerix will continue to leverage existing client and partner relationships throughout the region, while capturing new opportunities within the Insurance vertical and Advisory community whose clients rely on independent services for the quantitative analysis of risk and valuation of structured products," said Joseph Saporito, EVP of Global Direct Sales for Numerix. "John has demonstrated an ability to motivate sales teams across a diverse range of countries - keeping team members informed, prepared and in a position to succeed. I have the highest degree of confidence in John's abilities and the benefits his expertise will continue to bring to our global sales organization. Under John's direction, I'm confident our EMEA presence will continue to grow as Numerix seeks to deliver the most sophisticated derivatives pricing analytics and risk-related calculations to the market."