The Disrupters: Institutional Investor's Tech 50
Though not neglecting their day-to-day concerns of maximizing efficiency and minimizing costs, the executives who rise to distinction in the Institutional Investor Tech 50 have longer-range ambitions: to gain a competitive edge by catching the next wave of disruptive innovation.
By Jeffrey Kutler
Some of the best things on the web are free, muses Lance Uggla, CEO of Markit Group. When I look at how financial markets will use technology to transform their networks of participants, I think the word free has to be included.
He is referring to the way Facebook and Google are free and to the new commercial models they have spawned. The financial services industry is poised for its own Google-like revolution, says Uggla, who in ten years has built Markit into a global force in market information and transaction-processing services. No. 5 in this years Tech 50, Institutional Investors annual ranking of financial technology leaders and innovators, Uggla says he spends 10 to 15 percent of his time thinking and talking with others about a free strategy and how disruptive it would be to todays business model.
See the full ranking, with profiles, here.
For last year's Tech 40, click here.
Disruptive is the operative word, and it is a thread running through the Tech 50. The idea harks back to The Innovators Dilemma, a 1997 book by Harvard Business School professor Clayton Christensen that explained how long-entrenched, industry-leading companies can fail to anticipate disruptive technologies or seize the opportunities they present.