Algomi, the network company providing information-matching solutions for the optimisation of fixed income liquidity, today announced the opening of a new office in New York.
The company signed a long-term lease for the entire 28th floor of the Charles S. Cohen's Tower 57 at 135 East 57th Street.
The new office provides additional space to service Algomi's growing customer base in the Americas. Founded just three years ago, Algomi now works with more than 120 buy-side clients and 11 sell-side banks, including the recent signing of a leading US head quartered investment bank.
Over 140 people work for Algomi worldwide, and there is capacity for 35 employees in the New York headquarters. The company continues hiring for its American operations, with a particular emphasis on technology professionals and client service specialists. Algomi plans to develop additional solutions designed to meet the specific needs of the American market, in addition to providing local support for its bond information service.
Algomi's Honeycomb Network allows investment firms to see which dealer is best placed to facilitate illiquid corporate bond trades without disturbing the markets and having the price move against them. Algomi is continuing to add asset management, pension fund, sovereign wealth fund, endowment and hedge fund clients from offices in New York, London and Hong Kong, and client support and sales in Chicago, San Francisco, and Boston.
"As the largest single fixed-income market globally, the United States is a priority for the majority of clients. We have had on the ground presence here for more than two years," said Algomi CEO Stu Taylor. "From our new headquarters, we will continue to provide excellent service and nimbly respond to market and client challenges, all designed to help continue our mission of providing additional liquidity through increased information."
The office will be led by Steve Gallagher, the head of Algomi's U.S. operations. Algomi's co-founders and leadership are also spending additional time in the New York market.
"We look forward to having our current and future clients come visit our stunning new offices," Steve Gallagher said. "This new facility is a testament to the business we've grown in the States and our ambition to be even bigger and better in the future. We really want to show you what's next."