Qubealgo named Mark Reeves head of sales today (Tuesday). The London software company gave the former Standard Chartered executive director responsibility for global sales and business development.
Qubealgo sells development tools that banks and trading firms use to build their own execution algorithms, rather than licensing a finished platform. It trades as Riskpath Limited, registered in England and Wales since May 2016.
The hire puts a career bank salesman in front of the decision the company is built around: whether an institution writes its own trading technology or buys someone else's. Reeves worked at Deutsche Bank for 14 years and at Standard Chartered for 10.
Financial institutions still face a choice between "expensive proprietary development or inflexible off-the-shelf solutions," Reeves said in the announcement.
Twenty-Four Years of Bank FX, and Seven Months at FXSpotStream
Reeves joined Deutsche Bank in London in December 2000 as an FX operations supervisor and moved to New York, according to his LinkedIn profile. He went into the FICC eCommerce team in 2005 and onto the FX sales desk in 2007.
Between the two banks he spent seven months in 2015 at FXSpotStream, the multibank aggregation service, as head of sales and new business for the Americas. The announcement does not mention that role.
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At Standard Chartered he ran the macro sales desk covering banks and broker-dealers, and before that was a director in FX sales. He left in July 2025. Qubealgo did not say when he started.
One Named Partner Since 2023
Qubealgo opened its software to the wider market in April 2023, after running it with a select group of clients. Its only publicly named partner since then is Quadra, a crypto trading platform it signed in July 2025.
The company has not disclosed how many clients it has, its headcount, or whether it has raised outside capital. FinanceMagnates.com could not independently verify its description of the technology as institutional grade. Its registered office is an accountancy practice in Poole, Dorset.
Vendors Compete for Bank Development Budgets
Qubealgo sells a toolkit. Clients keep the intellectual property in whatever they build with it, the company says, a pitch aimed at institutions with quants on staff but no budget to fund a platform from scratch.
Most of the market sells the finished thing instead. Tradeweb added Citi and RBC execution strategies to its US Treasuries platform in March. Those are dealer strategies clients select, not build.
Tradefeedr went at the same budget from another direction, selling analytics that rank the algorithms clients already run. Its forecasting suite has been in the market since 2023.
Competitors are also spending on commercial headcount. Market data firm BMLL added nine staff across sales, marketing and engineering in April, six months after Nordic Capital bought it.
Demand for "sophisticated automated trading solutions" is rising as fixed income, FX and digital asset markets change, co-founder Martin Zinkin said.
Hiring bank-side salespeople is the standard route into those desks. oneZero took Julian Gay from smartTrade to run EMEA institutional sales, and Gay had spent more than 13 years at Integral before that.
Qubealgo's founders came out of the institutions Reeves has spent his career selling to. Zinkin ran electronic trading businesses at Deutsche Bank, BNP Paribas, Nomura and Lehman Brothers, the company says.
Co-founder Jeff Leal headed quantitative e-trading teams at BNY Mellon, Nomura and Lehman before moving to digital asset investment firm Monochrome Asset Management.
Riskpath's most recent accounts were unaudited and abridged, under the UK small-company exemption. It filed them in January, covering the year to 31 May 2025.
