Stephen will bring nearly 30 years credit markets experience with him, and will be responsible for launching the rapidly growing firm into the US market, helping to transform buyside and sellside firms' fixed income businesses as they come to terms with the new market structure. He will be based in Algomi's New York office, which is due to open on 2 January 2014.

Drawing on his considerable experience of working with dealers and the buyside, Stephen will work closely with Algomi Chairman Michael Schmidt and CEO Stu Taylor in taking Algomi's proposition to market. Algomi allows buyside and sellside firms to centrally organise, process and distribute its liquidity flows, so that trade opportunities are prioritised and pushed to the appropriate salespeople on a per trade basis. This allows firms to service trades in a strategic and coordinated effort, delivering the best balance sheet visibility.

From 2006 – 2011, Stephen was head of MarketAxess Europe & Asia, where he worked with institutional clients and dealers in established and emerging markets. Previously, he was Head of High Grade Trading at Wachovia Securities (now Wells Fargo) responsible for cash, credit default swaps, private placements, emerging markets and crossover trading. Prior to joining Wachovia Securities in 2004, Mr. Gallagher held similar positions with Bank of America Securities, Bear Stearns and Merrill Lynch from 1987-2003.

"The market conditions and dramatic change that is effecting market participants in the US lends well to a solution that helps navigating the challenges of rising costs of capital on dealers' balance sheets, and the fragmented liquidity as bond markets come online. Algomi is well placed to work with a vast array of financial firms as a partner for change, and I look forward to bringing them to the US market," said Stephen J. Gallagher, Head of Algomi US.

Stephen began his career on Wall Street with Kidder, Peabody & Co in 1983 after serving as a Captain in the U.S. Army for three years. He received a B.S. in Accounting from LaSalle University in Philadelphia, PA. Most recently, Stephen has been active in the markets, where he has focused on investing in the foreclosure and real estate market.

"We are very excited to have Stephen join us," added Stu Taylor, CEO, Algomi. "The US market is in many respects ahead of Europe when it comes to having a flourishing electronic credit market. With Stephen's expertise and leadership, we hope to help firms better understand the post Dodd-Frank environment and ensure their businesses remain shored up and profitable."