Instimatch Global, a digital network for institutional money market lending, has announced it has bolstered its executive team with two new hires. Daniel Sandmeier has been appointed as the company’s Chief Executive Officer, and Michael Schmidt has become the Executive Chairman.
According to the statement, the main focus for Sandmeier and Schmidt is to grow the company’s digital network of borrowers and lenders. This includes bank treasuries, corporate treasuries, pension funds, insurance companies, asset managers, family offices, and municipalities. In addition, they were also hired to build on the firm’s presence in Switzerland, Germany, Benelux, the UK and drive international growth.
Commenting on the new hires, founder and member of the board of directors for Instimatch Global, Hugh Macmillen said: “These appointments bring the breadth of institutional and fintech experience we need to scale Instimatch Global effectively.
“The fintech revolution has yet to impact the money market world in which I made my career, and in establishing the firm I recognised the opportunity for fundamental innovation. Instimatch Global has been up and running with a growing client base for over a year now, and we’ve found the key people to accelerate our growth.”
Sandmeier joins Instimatch Global with extensive experience in the finance industry. Previously he worked at Credit Suisse from 2004 to 2016. His most recent position at the bank was Head of Managed Accounts. He has also held positions at UBS and Merrill Lynch. According to his LinkedIn, Sandmeier is currently a member of the board of directors for Canica Holding AG and Canica International AG.
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In the statement, Sandmeier said he was delighted to lead Instimatch Global: “Bank balance sheet constraints and a reliance on traditional methods of price discovery and execution have amplified structural problems in the money markets.
“As we talk to a wide range of market participants, we’re finding great interest in our digital network, which gives treasurers broader trading connections across industries and geographies, increasing choice and diversifying counterparty risks.”
Schmidt also joins the team with solid experience in the finance and banking industry. He’s held senior fixed income roles at Deutsche Bank and UBS. Most recently, he co-founded Algomi which is a bond market intelligence firm.
Schmidt also commented on his new role: “new fintech solutions continue to enhance financial markets, but the potential for new technology has not yet been realized in money markets.
“Instimatch Global delivers an alternative that provides better access to markets and pricing across borders, not just within them, and I believe my background will be helpful in stimulating large institutions to make the leap to a more digitalized approach.”