Torstone reports continued growth in 2020

Torstone Technology, an SaaS platform for post-trade securities and derivatives processing, has continued to achieve significant growth throughout 2020, driven in part by volatile trading conditions leading to increased appetite among market participants for flexible and scalable automated post-trade solutions, as well as by accelerating industry adoption of cloud services. 

Having achieved nearly 100 per cent overall service availability for all clients throughout this volatile year, Torstone continues to prove the scalability and resilience of cloud-based SaaS model for post-trade operations.

To meet growing client demand globally, Torstone has recently onboarded significant new senior talent, who have joined the firm’s business development and product development teams. Torstone plans to grow its global employee base by another 30 per cent in 2021 as it invests to scale the company to support market demand.

Donal O’Brien has joined Torstone in the UK, to manage the Global Pre-Sales function, working closely with sales, product management and professional services teams. He has over 30 years’ experience in capital markets building post-trade solutions in Europe, North America and Asia, most recently with firms including GBST and Broadridge.

Alvaro Del Pino Aguilera has joined Torstone as Head of Sales for Iberia. Based in Madrid, Alvaro has over 25 years of experience working with financial technology firms, including AxiomSL and SunGard/FIS, covering the wholesale and institutional market.

In North America, Suki Dewan has been appointed as Torstone’s Head of Sales for Canada. Suki has over 20 years’ experience in capital markets, gained through his previous roles at Iress, Fidessa, SS&C and State Street.

In Asia, the sales team has been further expanded, with Hidetoshi Kobayashi joining Torstone as Head of Sales for Japan to accelerate the firm’s continued growth in the region and build on its recent successes in this key market. He joins Torstone from Finastra where he spent approximately 12 years working with banks and brokers in the region.

These senior appointments, along with a number of other hires in Torstone offices around the world, follow Torstone’s announcement earlier this year that David Pearson joined the firm’s London office to help strengthen Torstone’s product focus and delivery, following his long tenure at Fidessa. David is also now representing Torstone as the Co-Chair of the FIX Global Post-Trade Working Group.

The company’s continued growth this year has been crucial to support ongoing client onboarding in markets around the world. Last month Torstone announced that Credit Suisse Securities (Canada) has gone live with Torstone’s SaaS platform to automate its equities operations, a significant achievement with the majority of the implementation undertaken remotely during the recent lockdown.

Brian Collings, CEO, Torstone Technology, says: “We are excited by the significant growth we have been able to achieve in 2020, and our increased investment plans for 2021. We plan to build on this success in the coming year to bring new products and solutions to our existing clients, as well as enter new markets. We are mindful of the unprecedented pressures faced by financial services firms and their employees across the globe and we remain committed to helping our clients reduce costs, minimise risk, and drive efficiencies as we adjust to a new operating environment that is increasingly suited to cloud-based solutions.”