< The 2016 Tech 50

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45
Yasuki Okai
President
NRI Holdings America
Last year: 44

The longtime head of Nomura Research Institute’s financial technology solutions group, Yasuki Okai, relocated to New York last year to spearhead the Tokyo-based systems consulting company’s international growth. But Japan remains NRI’s center of gravity — the ¥421 billion ($3.5 billion)-in-revenue firm began life in the 1960s as a Nomura Securities International think tank — and the site of its most globally significant projects. Nomura Securities is still a top customer, and Okai says a milestone last year was the brokerage’s replacement of its in-house retail and capital markets back offices with NRI’s STAR and I-STAR hosted, or application service provider, platforms. The conversion both lowered Nomura Securities’ costs and simplified its technology architecture. “This highlights the trend that major broker-dealers are focusing more on technology-cost reduction because of issues such as regulatory compliance,” says Okai, 53, who has worked for NRI since it entered the tech solutions business in 1988. He points to a posttrade outsourcing deal with UBS Securities Co. in Japan, announced last September, as “a very significant achievement for us because it was the first utility service in Japan for investment banks.” At a time when many firms are trying to reduce fixed costs, “this implementation signifies that NRI was able to join the competition to make utility service happen for investment banks’ entire back-office operations.” NRI in June acquired Hingham, Massachusetts-based investment operations consulting firm Cutter Associates, which has more than 200 asset management, insurance and pension fund clients worldwide. In April, NRI launched the second phase of what it termed a “proof of concept to examine the applicability of blockchain technology for securities markets,” with collaborators including Japan Exchange Group, Mitsubishi UFJ Financial Group, Nomura Securities and SBI Securities. “We are excited to be leading the charge with great partners,” says Okai, though he believes it could take ten years for the “big change” of distributed ledger to take hold.

Visit The 2016 Tech 50: Making Financial Serivces Faster, Cheaper, Bigger for more.


 
The 2016 Tech 50


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1. Catherine
Bessant
Bank of America Corp.

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2. Jeffrey Sprecher
Intercontinental Exchange

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3. Lance Uggla
Markit

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4. Phupinder Gill
CME Group

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5. Shawn Edwards and Vlad Kliatchko
Bloomberg

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6. R. Martin Chavez
Goldman Sachs Group

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7. Robert Goldstein
BlackRock

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8. Adena Friedman
Nasdaq

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9. Deborah Hopkins
Citi Ventures

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10. Daniel Coleman
KCG Holdings

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11. Stephen Neff
Fidelity Investments

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12. David Craig
Thomson Reuters

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13. Michael Spencer
ICAP

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14. Michael Bodson
Depository Trust & Clearing Corp.

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15. Charles Li
Hong Kong Exchanges and Clearing

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16. Chris Concannon
BATS Global Markets

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17. Blythe Masters
Digital Asset Holdings

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18. David Rutter
R3CEV

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19. Neil Katz
D.E. Shaw & Co.

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20. Lee Olesky
Tradeweb Markets

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21. Richard McVey
MarketAxess Holdings

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22. Seth Merrin
Liquidnet Holdings

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23. Robert Alexander
Capital One Financial Corp.

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24. Brad Katsuyama
IEX Group

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25. Antoine Shagoury
State Street Corp.

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26. David Gledhill
DBS Bank

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27. Lou Eccleston
TMX Group

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28. Andreas Preuss
Deutsche BÖrse

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29. Dan Schulman
PayPal Holdings

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30. Scott Dillon
Wells Fargo & Co.

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31. Mike Chinn
S&P Global Market Intelligence

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32. Craig Donohue
Options Clearing Corp.

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33. Gary Norcross
Fidelity National Information Services

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34. Steven O'Hanlon
Numerix

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35. Sebastián Ceria
Axioma

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36. Michael Cooper
BT Radianz

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37. Tyler Kim
MaplesFS

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38. Neal Pawar
AQR Capital Management

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39. David Harding
Winton Capital Management

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40. Chris Corrado
London Stock Exchange Group

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41. Brian Conlon
First Derivatives

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42. Jim Minnick
eVestment

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43. Stephane Dubois
Xignite

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44. Mazy Dar
OpenFin

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45. Yasuki Okai
NRI Holdings America

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46. Kim Fournais
Saxo Bank

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47. Jock Percy
Perseus

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48. Robert Schifellite
Broadridge Financial Solutions

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49. Brian Sentance
Xenomorph Software

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50. Pieter van der Does
Adyen