This content is from: Portfolio

The 2016 Fintech Finance 35: Steve Gibson

No. 23

  • By Peter Vasiliev

23. Steve Gibson
Chief Executive Officer
Euclid Opportunities
PNR

ICAP’s transition into a technology-driven trading and posttrade services enterprise began long before the interdealer brokerage’s agreement late last year — now nearing completion — to transfer its traditional voice brokering to Tullett Prebon. In 2003 and 2006, London-based ICAP acquired the e-trading platforms that make up what is now EBS BrokerTec. In 2011, as part of the ramp-up of the posttrade risk and information (PTRI) division, the firm launched a strategic fintech fund, Euclid Opportunities. The financial crisis had spawned “a raft of new regulations requiring new operating models,” recalls Euclid founder and CEO Steve Gibson. “The markets needed new platforms, talent, and management teams to solve new problems of efficiency, scale, capital, and resources.” Gibson, 44, is a member of ICAP’s global executive management group and reports to Jenny Knott, CEO of PTRI since August 2015. (Mark Beeston, No. 24 last year, headed PTRI from 2010 to 2014 before starting Illuminate Financial Management, an investment firm that has retained advisory relationships with some Euclid portfolio companies.) Euclid began building its portfolio with Duco, a provider of advanced algorithms that automate historically manual reconciliation processes, and has gone on to touch other bases in data management and transaction processing. Holdings range from AcadiaSoft in collateral management to telephony and collaboration innovator Cloud9 and distributed ledger leader Digital Asset Holdings. Euclid has had two exits, ICAP the buyer in both cases: hedge fund and prime brokerage platform ENSO Financial Analytics in April, and regulatory reporting company Abide Financial in October. Also in October, Euclid increased its funding of derivatives-risk analytics provider OpenGamma in a $16 million round, along with Accel and former SunGard Data Systems CEO and current OpenGamma director Cristóbal Conde. “A lot has been written about a tougher climate for fintech start-ups,” says Gibson, who previously held senior positions with Calypso Technology, Ipreo, and Siebel Systems (now part of Oracle Corp.). “But there will always be a small number of good firms that continue to get funded.”


The 2016 Fintech Finance 35

1. Jonathan Korngold
General Atlantic
2. Matthew Harris
Bain Capital Ventures
3. Jane Gladstone
Evercore Partners
4. James Robinson III & James
Robinson IV
RRE Ventures
5. Steven McLaughlin
Financial Technology Partners
6. Amy Nauiokas & Sean Park
Anthemis Group
7. Richard Garman &
Brad Bernstein
FTV Capital
8. Gerard
von Dohlen
Broadhaven Capital Partners
9. Darren Cohen
Goldman Sachs Group
10. Hans Morris
Nyca Partners
11. Meyer (Micky) Malka
Ribbit Capital
12. Maria Gotsch
Partnership Fund for New York City
13. Barry Silbert
Digital Currency Group
14. Jay Reinemann
Propel Venture Partners
15. Mariano Belinky
Santander InnoVentures
16. Justin Brownhill & Neil DeSena
SenaHill Partners
17. François Robinet
AXA Strategic Ventures
18. Vanessa Colella
Citi Ventures
19. Michael Schlein
Accion International
20. Kenneth Marlin
Marlin & Associates
21. Rumi Morales
CME Ventures
22. Alastair (Alex) Rampell
Andreessen Horowitz
23. Steve Gibson
Euclid Opportunities
24. Fabian Vandenreydt
SWIFT
25. Vladislav Solodkiy
Life.SREDA
26. Gardiner Garrard III
TTV Capital
27. Nektarios Liolios
Startupbootcamp Fintech
28. Lawrence Wintermeyer
Innovate Finance
29. Bina Kalola
Bank of America Merrill Lynch
30. Hyder Jaffrey
Fintech Innovation
31. Calvin Choi
AMTD Group
32. Janos Barberis
FinTech
Hong Kong
33. Jalak Jobanputra
Future Perfect Ventures
34. Sopnendu Mohanty
Monetary Authority of Singapore
35. Oskar Mielczarek
de la Miel
Rakuten
FinTech Fund

Related Content