GBST, a leading global provider of securities transaction and fund administration software for the financial services industry, today announced that Barry Raskin has been named CEO for the company’s Americas business.
Mr. Raskin joins GBST after nearly 30 years with SIX Financial Information USA (formerly Telekurs USA), a premier supplier of global securities pricing and reference data. Mr. Raskin helped establish SIX in the US in 1987, serving as CFO and Secretary prior to becoming Managing Director in 1995. Under his leadership, the company focused on customers’ needs and improved data accessibility, resulting in significantly increased market penetration, revenue and profitability as well as an enhanced reputation for quality, reliability and comprehensive coverage.
During the course of his career with SIX, Mr. Raskin was called on to successfully build and rebuild the company a number of times to meet both internal changes and evolving market demands. This includes developing products geared for local requirements that ranged from low latency real-time data feeds, to customized delivery formats to improve the client’s integration and processing experience, to one of the world’s richest tick history repositories.
An active industry participant, Mr. Raskin is often a featured speaker on a variety of topics. He was one of the first to earn the FISD “Financial Information Associate” certification, and was honored by the industry in 2013 when he was inducted into Incisive Media’s “Inside Market Data Hall of Fame”.
Based in New York, Mr. Raskin will report to Group CEO Stephen Lake and work directly with the incumbent Liz Bevan to transition into the role with overall responsibility for the North American business. “We are thrilled to be welcoming Barry to our Americas team,” says Mr. Lake. “As a highly regarded professional known in the industry for establishing strong and lasting client relationships, Barry has an extensive network of contacts. His years with SIX have also shown him to be an exemplary innovator, something we value greatly at GBST.”
Mr. Raskin says it was GBST’s own innovative spirit that intrigued him from the outset. “What we’ve learned in the financial industry since 2008 is that we were, and largely still are, relying far too heavily on manual processes. GBST recognized this well before the credit crisis, developing solutions and systems that not only automate but are nimble and modular to meet the varying needs of their clients.”
From Mr. Raskin’s point of view, it is this flexibility that has led to the company’s global success as they’ve entered new markets. “One of the things that has impressed me most about GBST is that although they’ve had great success in their home market of Australia, they haven’t tried to force fit their solutions into other markets. Instead, they adapt and tailor their offering to suit each market. We saw this in the UK and parts of Asia, and we’ll see it in the US as well.”
According to Mr. Lake, a critical part of this success rests on bringing local, industry expertise onto the team. “In all new markets we enter, we initially resource from our other locations and then transition to local management and resources. That is what we’re doing here in the US, and the appointment of Barry and other key hires is an important step in that process.”
In addition to Mr. Raskin, GBST is also adding Timothy Larason as Vice President, Head of Development, Americas and Mike Vellecca as Vice President, Head of Account Management.
“We are very excited to be announcing these appointments as they will add in-depth local market expertise,” says Mr. Lake. “We are anticipating significant growth in our US business over the next few years, and the new team will be critical to ensuring our success.”
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