Ronald DePoalo
Chief Information Officer
Fidelity Institutional
Last year: 10

Hedge fund managers are major beneficiaries of recent technological innovation at Fidelity Institutional, says Ronald DePoalo, chief information officer of the Fidelity Investments unit that offers capital markets, clearing, institutional asset management and family-office services. The developments center on PB Optimize, which was introduced in 2012 “to give our hedge fund clients transparency across their prime brokers,” says DePoalo, 51, who was Merrill Lynch & Co.’s CTO for global wealth management before joining Boston-based Fidelity in 2008. PB Optimize, used by more than 100 of Fidelity’s hedge fund clients, “has really taken off,” he says. “We’ve added a corporate action capability that’s really important for hedge funds in securities lending in terms of the economics of how they’re borrowing. We’ve added rates to the intraday platform as well, so they can take a look at the lending rates during the day” rather than relying on overnight data. The job is a dream come true for DePoalo, who is the son of Salomon Brothers CIO Phillip DePoalo and says he “fell in love with financial technology in my high school years.” After graduating from Ramapo College in New Jersey, he entered a Merrill Lynch training program in 1986 and stayed at the firm for 22 years, earning a St. Peter’s University MBA along the way. Also new at Fidelity Institutional are EX-RAY, an online best-execution tool for equity traders that a few asset management firms have tested, and RUBRIC, a fixed-income analytics and automation platform currently used by internal teams. Both will be released to wider audiences this year. “The tools that we’re building provide openness and transparency,” the CIO asserts. “A lot of people talk about transparency, but not all the claims are the same.”


2016 Trading Technology 40
Click below to view profiles
1. Raymond Tierney III
2. Richard Prager
3. Chris Isaacson
BATS Global Markets
4. Jonathan Ross
KCG Holdings
5. Bradley Peterson
6. Brad Levy
7. Dan Keegan
8. Ronald DePoalo
Fidelity Institutional
9. Raj Mahajan
Goldman Sachs Group
10. Ari Studnitzer
CME Group
11. Mayur Kapani
Intercontinental Exchange
12. Gerald O’Connell
CBOE Holdings
13. Nicholas Themelis
MarketAxess Holdings
14. Gil Mandelzis
EBS BrokerTec (ICAP)
15. Bill Chow and Richard Leung
Hong Kong Exchanges and Clearing
16. Rob Park
IEX Group
17. Philip Weisberg
Thomson Reuters
18. John Mackay (Mack) Gill
19. Robert Cornish
International Securities Exchange
20. Paul Hamill
Citadel Securities
21. Eric Noll
22. Tyler Moeller and Joshua Walsky
Broadway Technology
23. Rishi Nangalia
REDI Holdings
24. Veronica Augustsson
Cinnober Financial Technology
25. Alasdair Haynes
Aquis Exchange
26. Manoj Narang
Mana Partners
27. Gaurav Suri
28. Robert Sloan
S3 Partners
29. Anton Katz and Stephen Mock
AQR Capital Mgmt
30. Stu Taylor
31. D. Keith Ross Jr.
PDQ Enterprises
32. Donal Byrne
33. Alfred Eskandar
34. R. Cromwell Coulson
OTC Markets Group
35. Masayuki Hosaka
36. Peter Maragos and David Karat
Dash Financial
37. Amar Kuchinad
38. Jennifer Nayar
SR Labs
39. Dave Snowdon
40. Dan Raju