Velocimetrics, a leading provider of business flow tracking and performance analytics has today announced the hire of Richard Tufft, ex Goldman Sachs Co Chief Operating Officer (COO) of research, as a non-executive director.
Tufft, who held senior positions at Goldman Sachs for over 15 years, described how he sees a significant opportunity as banks, exchanges, hedge funds and other financial institutions emerge from regulatory compliance preparation, into the new MiFID II environment. Tufft sees Velocimetrics as being uniquely positioned to help institutions build on their reporting and monitoring investment, to focus on deploying strategies to enable growth and improve profitability.
Tufft comments: “The current financial environment has three major underlying drivers: the post financial crisis regulatory and policy response; the proliferation of tech change; and the increasing globalisation of financial markets. This has led to massive amounts of data being generated and a growing need for systems that span geographies and product lines. Velocimetrics is in a sweet spot as it helps firms deal with this avalanche of data and make holistic, complex correlations in real time, which ultimately will help make the transition from reporting and tracking to analysis and business insight.”
Steve Colwill, CEO of Velocimetrics, says: “The information that firms need to generate for the regulator is vital. But why use it solely for regulatory compliance purposes? Providing this insight into trading data and transaction data can really give firms an edge where it comes to how they run their businesses and improve their margins. We’re delighted to welcome Richard on board and excited about the direction Velocimetrics is going in.”