Baton Systems (“Baton”, formerly known as Ubixi), the industry’s fastest, on-demand, and highly secure platform for clearing, settling and managing payments between financial institutions, has appointed former Citigroup Vice Chairman Lewis B. Kaden to its Advisory Board.
He joins Arjun Malhotra, Co-Founder of HCL Technologies and Headstrong, as the newest addition to Baton’s Advisory Board.
The two appointments come during a time of rapid growth and expansion for Baton, with the Company also making key engineering hires to support the growth of its product. In the past six months, since the technology went live, Baton has already been adopted by two of the world’s five largest foreign exchange trading banks, a top futures commission merchant, as well as a major global clearing house.
Kaden was labeled “The Most Powerful Banker You’ve Never Heard of” by Bloomberg Businessweek in 2009. He joined Citigroup in 2005, where he oversaw the bank’s global functions and advised the CEO on numerous strategic and business matters. Kaden has also served as Chairman of the United States Government Overseas Presence Advisory Panel, as well as Chairman of the Industrial Cooperation Council of the State of New York and Governor Mario Cuomo’s Commission on Competitiveness. He holds degrees from both Harvard College and Harvard Law School.
“The methods used by banks to settle and manage capital can be improved to increase speed, reduce error rates, and lower costs,” said Kaden. “I’m pleased to be joining the team at Baton that has engineered a streamlined solution to one of the banking sector’s most widespread technical issues.”
Malhotra co-founded HCL Technologies in 1975, building it into one of India’s largest providers of IT products and serving as Vice Chairman until 1998. He then founded Headstrong, which quickly became the fastest growing consulting company addressing the Capital Markets. Headstrong was sold to Genpact (NYSE “G”) in 2011.
“Baton is a young company, but we are working with some of the largest banks and financial institutions across the globe to address some of their biggest pain points,” said Arjun Jayaram, CEO and Founder of Baton Systems. “Adding experts like Lewis Kaden and Arjun Malhotra to our Advisory Board is a major step toward establishing our role as one of the key disruptors in the industry.”
Arjun Jayaram is a seasoned business technologist, who ran the anti-spam division of Twitter, and later served as Vice President of Technology at mobile payments provider Dwolla.
In addition to the new appointments to its Advisory Board, Baton has also added two engineering veterans – James Perry and Amish Asthana – to its team. Perry has over 20 years of engineering software architecture experience with companies including Amazon, ExaBeam, and HP. Amish Asthana brings to Baton over 15 years of experience in engineering and development with companies such as Oracle, CipherCloud and Lending Club.