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35
Philip Weisberg
Chairman and Chief Executive Officer
FX Alliance
Last year: 33

In the late 1990s, Philip Weisberg worked on several e-finance start-ups within J.P. Morgan & Co.'s LabMorgan technology incubator. The one he brought to market in 2000 and has led ever since as CEO, FXall, today serves more than 1,000 institutional clients and handles upward of $90 billion in average daily foreign exchange volume. Now formally FX Alliance, the New York–based company went public in February, transitioning from bank consortium ownership. Its market valuation is about $460 million, and its now-transparent results — 2011 net income of $26 million (up 23 percent) on revenue of $118 million (up 19 percent) — make it "clear to everybody that we are a technology enabler for the FX industry," says Weisberg, 44. Eyeing regulatory reforms mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, Weisberg is positioning FXall to serve as a swap execution facility for FX options and nondeliverable forward contracts. To bolster his technology arsenal, Weisberg in April announced the appointment of Steve Rubinow, NYSE Euronext's chief information officer for the preceding six years, as FXall's CIO. The infrastructure is flexible to serve diverse user preferences. "We are agnostic as to the execution style," Weisberg says. "When clients choose FXall, they never choose just one. They can pick the situationally appropriate execution mechanism."