5. Dan Keegan
Co-head of Global Equities
Last year: 7
Dan Keegan's career is distinguished by mastery of modern
trading systems: He built JPMorgan Chase & Co.'s electronic
execution services business and was head of institutional
equities at Automated Trading Desk, a high-tech platform that
Citigroup acquired in 2007. Keegan went to Citi in that $680
million deal and has since climbed a few management rungs, but
there is no "technology" in his job title not in literal
terms, anyway. Promoted in May 2016 to co-head of global
equities after three years as head of equities, Americas,
Keegan says the business and the technology on which it runs
are not really separable. "I spend more time focusing on
technology now as a global head," says the 48-year-old, whose
co-leader, Murray Roos, joined Citi from Deutsche Bank in 2015.
"In governance and prioritization of tech spending, all
decisions by definition have to be taken at a global level,"
He regards the bank's global reach and steady commitment to
trading as advantages that could pay off handsomely as some
capital-constrained rivals pull back or place bets elsewhere.
One fundamental decision that Citi has made is to no longer
participate in the algorithmic-strategy arms race. Rather, Citi
is relying on machine learning and big data to provide the
optimal path for clients to achieve their objectives. "More
real-time intelligence is being built into all of our
intellectual property," Keegan says, while underscoring an
enduring fundamental: "There is much to be done under the
banner of automation, but what can never be automated is the
relationship and how we as service providers stay close to our
clients and build upon the trust created over many years."
The 2017 Trading Tech 40
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