Cinnober reshuffles management team

Source: Cinnober

Cinnober Financial Technology, a global independent provider of technology solutions for the finance industry, announces the appointments of Fredrik Nihlén as Cinnober Group CFO, John Yonker as Simplitium CEO and Patrick Tessier as Minium CEO.

Simplitium and Minium are wholly-owned subsidiaries of Cinnober. These appointments strengthen the Group’s management team and reaffirms Cinnober’s focus on organic growth, building on its proven solutions.

• Fredrik Nihlén, previously Vice President of Finance, has been promoted to Group CFO, replacing Peter K. Lenardos who was appointed Group CEO in August. Fredrik will lead the finance department and focus on the financial reporting for the Cinnober Group.
• John Yonker has been promoted to the role of CEO of Simplitium, a Cinnober subsidiary specialising in transparency services to the finance industry, taking over from Per-Anders Häll-Bedman who has served as Interim CEO since May. John, who previously held the role of COO at Simplitium, will focus on bringing the firm into profitability in 2019.
• Patrick Tessier has been appointed CEO of Minium, Cinnober’s subsidiary delivering technology to sell-side firms to modernise their risk and post-trade processes. Patrick joined Minium as COO in February 2017 and has been an integral part of its success.

Peter K. Lenardos, Group CEO of Cinnober, comments: “These appointments are instrumental in driving the group forward as we accelerate the development and strengthening of our business areas. The appointment of Fredrik Nihlén as Group CFO will help us deliver on our commitment to achieve profitability in the coming year and to continue to self-fund our business activities, as well as meeting expansion goals.”

Peter adds: “John Yonker and Patrick Tessier have both shown exceptional leadership in their respective businesses. Under Patrick’s guidance, in under 18 months since its inception, Minium has designed an innovative real-time risk management and post-trade technology solution, grown to nearly 50 employees and announced its first client, Marex Spectron. In parallel, under John’s leadership, Simplitium has achieved a number of milestones in terms of client acquisition and developing ground-breaking solutions for trading, pensions and insurance. I look forward to continuing to work closely with both John and Patrick to further build Cinnober into the preferred solutions provider for financial firms globally.”

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