- OpenFin, a startup that wants to be the iOS for capital markets, has hired two trading technology veterans to lead operations in Europe.
- Adam Toms, a former exec at Instinet, will join OpenFin as CEO Europe, while Espen Overby, a former exec at inFront, has joined to run technology operations in the region.
A startup that wants to be the iOS of Wall Street is bringing on two trading veterans to head up operations in Europe.
OpenFin, a tech company that helps electronic-trading firms build their desktop applications, announced Tuesday that Adam Toms, a former executive at Instinet, a trading technology company, will join the firm as CEO Europe. The company is also bringing on Espen Overby, former chief technology officer at inFront, a market data company, to head technology operations in the region.
The two hires are meant to shore up OpenFin’s ability to serve its big bank clients, many of which have large tech operations in Europe, and to expand its footprint in the region. Toms, who has more than two-decades of experience in financial services, will oversee the 11 people on staff in OpenFin’s London office. Toms previously was CEO of Instinet Europe, for which he led brokerage operations and strategy for Europe and the Middle East.
OpenFin is looking to become Wall Street’s version of what the iOS and Android platforms are to the mobile application space. The firm currently powers applications licensed on 125,000 desktops. Its customers include JPMorgan, Citadel, and OpenDoor.
Toms told Business Insider its customers are finding more and more use-cases for OpenFin’s products.
“The company at the moment is scaling very fast,” Toms said. “We are looking at how we can get our resources in the right place to serve the market effectively.”
As such, the firm is looking to double its headcount in Europe over the next six months. OpenFin finished a $US15 million round of venture funding backed by JPMorgan in February 2017. It has raised $US22 million in total funding. Other backers include Bain Capital Ventures and DRW Venture Capital.