Liquidnet, an institutional trading and equities network, has appointed a new chief technology officer to drive its evolving product portfolio and software development roadmap. The company has promoted its current tech executive Patrick Strobel to take on the new role, according to a group statement.
Liquidnet hired Patrick Strobel back in 2017 to lead its technology affairs across the Europe, Middle East, and Africa (EMEA) region. He was elevated to his expanded role as CTO to head the company’s overall technology strategy, including product development for Liquidnet’s three business verticals.
Strobel will also be responsible for aligning the company’s technology offerings a few months after it acquired institutional research provider RSRCHXchange (RSRCHX) and sentiment analysis startup Prattle.
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Strobel joined Liquidnet after a lengthy career spanning nearly two decades in the banking and IT space. He previously worked at Deutsche Bank in a number of senior roles, including Head of P&L, IPV Technology, and Global Head of Equity Trading Analytics. During his tenure, he helped foster the development of Deutsche Bank’s equity trading analytics capability, including TCA, pre-trade analytics, and alpha capture on a global level.
Liquidnet expands its member base beyond traders
Since launching in September 2015, Liquidnet’s community of fixed income asset managers has grown to 200 active firms, around 70 of which are in Europe, who have traded some 17,000 different ISINs to date. This growth has been fueled by members’ ability to trade in institutional size, with an average execution of $2.4 million.
According to Rob Laible, Liquidnet Chief Operating Officer, in a statement on the appointment: “We’re excited to have Patrick expand his role with us and take on the mantle of CTO. Patrick will be instrumental in designing and executing our technology vision and goals as we enter 2020. Our growing institutional Member network of buy-side traders, portfolio managers, analysts, and research providers, rely on Liquidnet to deliver world-class trading, analytics, and actionable insights through our technology platforms and solutions, and we’re proud to have Patrick on board as CTO to support their evolving needs.”