Contineo, the industry-backed messaging network for equity-linked structured products, announced today the appointment of Franck Lerat as Chief Technology Officer.
CEO Antoine de Charnacé said Mr Lerat was ideally placed to lead the next technology evolution of Contineo’s successful structured product platform.
“We are tremendously excited to welcome Franck to Contineo,” he said. “He’s the ideal person to lead our talented team of technologists as we further develop the platform and deliver the new functionalities that will help our users and their end clients extract even more value out of the structured product investment process.”
CEO Antoine de Charnacé explained this addition to the team was very timely and an important milestone for the company to support the positive trend and ongoing developments.
“We have made significant progress this year in rolling out Contineo platform directly to investment counselors and relationship managers, beyond the dealing team of our buy-side clients. Contineo’s web-based solution gives a unique advantage for client-facing users who can send RFQs remotely on their tablets and receive pricings across 15 issuers in less than a minute, while sharing a coffee with their clients. The increasing number of users (+70% this year) combined with new payoffs available on the platform translate into more RFQs (+30% YoY) and ultimately more transactions. Compared to last year, we foresee a 20% growth on the volume placed via Contineo despite a more challenging market environment in 2019. This trend will be supported further by a new private bank joining Contineo’s network in Q4 this year” he said.
“Technology is more than ever at the core of our development plans to scale up the business with new platform features and new services available such as lifecycle module and enhanced analytics tools. It is key to reinforce our position in Hong Kong and Singapore and support our customers operations across the globe. Franck’s appointment further enhances Contineo’s position as the leading partner sustaining both our buy and sell-side banking clients technology transformation” he concluded.
With more than 25 years’ experience in equity derivatives technology, Mr Lerat said he was looking forward to applying his deep global expertise to Contineo’s nimble and innovative technology stack.
“Contineo represents the next exciting evolution in the structured product space,” he said. “I followed Contineo’s work closely since it launched in 2015, and I look forward very much to being part of the next iteration of its journey.”
Mr Lerat joins Contineo from HSBC, where he was Global Head of Equity Derivatives IT in charge of the digital transformation of the technology stack. He was previously Co-Head of Equity Derivatives IT at JPMorgan, where he spent most of his career and recently reengineered the firm’s technology solutions for equity derivatives front to back.