SmartStream Technologies has hired industry veteran Tom Dalglish to manage transformation projects for post-trade processing and data management services at global clients. Initially, Dalglish will be responsible for managing the back-office transformation program with one of Europe's largest banks.
Dalglish brings over 20 years of experience in the industry and is considered an expert in databases, data strategies, and reference data. He previously worked for UBS as CTO for Global Data Services running a newly formed enterprise data group. He has held senior management roles for enterprise reference data initiatives at Bear Stearns, J.P. Morgan, and Bank of America Merrill Lynch.
Prior to joining SmartStream, Dalglish was the global head of transformation for iGATE, where he designed and developed a major data utility strategy for the firm.
"I am looking forward to working at SmartStream where they take R&D, teamwork and client success seriously," commented Dalglish in today's release. "At SmartStream, the focus is on getting the job done effectively and quickly," he stated, adding that the company is a leader in shaping enterprise reference data initiatives. "We realize the value of what has been built over a long period of time and I am looking forward to further enhancing the services and utilities by leveraging the core technology, whilst we continue with the strong investment plans."
Many financial firms need to retool their current infrastructure to support new regulatory requirements and improve operational efficiency, according to Philippe Chambadal, CEO of SmartStream, a provider of transaction lifecycle management (TLM) and managed services to transform the middle and back-office operations of financial institutions.
SmartStream is counting on Dalglish to help financial institutions with major transformation projects. "The adoption of utilities is helping the industry on both accounts: by mutualizing back-office functions such as EDM [enterprise data management] into shared centers of excellence, firms are able to reduce operational cost by 40% to 60% and respond faster to regulatory demands," said SmartStream's CEO. Poor quality data is a key factor in trade breaks, high operational costs, and inefficiencies in regulatory reporting, the company contends.Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio