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The 2016 Trading Technology 40: Raymond Tierney III

< The 2016 Trading Technology 40 1 Raymond
Tierney III Global Head of Trading Solutions Bloomberg Last year: 3

Bloomberg Trading Solutions grew revenue 10 percent in 2015. That’s a strong showing for a mature information technology enterprise and gratifying for Raymond Tierney III in that it was his first year as global head of the group responsible for Bloomberg’s multiasset, buy- and sell-side order management systems. The increase was a few percentage points below the unit’s five-year compound annual growth rate, but Tierney, 56, is no less pleased. The deceleration reflected investments back into the business (“to enhance infrastructure and products,” he says) that he believes Bloomberg uniquely is willing to make for longer-term benefit. Trading Solutions is Tierney’s second assignment at Bloomberg, which he joined in 2010 after 16 years with Morgan Stanley and Morgan Stanley Investment Management. Through 2014 he was president and CEO of Bloomberg Tradebook. “Bloomberg was looking for someone who understood how electronic trading was evolving,” he says. On his watch the equity- and U.S.-centric agency brokerage had “diversified asset classes and broadened its reach globally.” Early last year Tierney got a call from the top — founder Michael Bloomberg and co-founder Thomas Secunda — to be a “change agent” for Trading Solutions, which consists of 600 people and is supported by 600 more in R&D. Tierney says he spent the first 100 days getting the lay of the land and interviewing some 200 clients about their priorities — transparency and integration were common themes — in keeping with his “philosophy of listening, understanding the problem and providing real solutions to clients.” Selling has become “more consultative and less product-pushing.” All efforts revolve around the Bloomberg Professional service, which reaches more than 325,000 terminal subscribers, and making client relationships stickier. “The goal is to deliver the best, most reliable order management systems on the planet,” Tierney says. “Anybody who knows me will tell you I hate coming in second.”

 

  2016 Trading Technology 40 Click below to view profiles
1. Raymond Tierney III Bloomberg2. Richard Prager BlackRock3. Chris Isaacson BATS Global Markets4. Jonathan Ross KCG Holdings5. Bradley Peterson Nasdaq
6. Brad Levy Markit7. Dan Keegan Citi8. Ronald DePoalo Fidelity Institutional9. Raj Mahajan Goldman Sachs Group10. Ari Studnitzer CME Group
11. Mayur Kapani Intercontinental Exchange12. Gerald O’Connell CBOE Holdings13. Nicholas Themelis MarketAxess Holdings14. Gil Mandelzis EBS BrokerTec (ICAP)15. Bill Chow and Richard Leung Hong Kong Exchanges and Clearing
16. Rob Park IEX Group17. Philip Weisberg Thomson Reuters18. John Mackay (Mack) Gill MillenniumIT19. Robert Cornish International Securities Exchange20. Paul Hamill Citadel Securities
21. Eric Noll Convergex22. Tyler Moeller and Joshua Walsky Broadway Technology23. Rishi Nangalia REDI Holdings24. Veronica Augustsson Cinnober Financial Technology25. Alasdair Haynes Aquis Exchange
26. Manoj Narang Mana Partners27. Gaurav Suri Arcesium28. Robert Sloan S3 Partners29. Anton Katz and Stephen Mock AQR Capital Mgmt30. Stu Taylor Algomi
31. D. Keith Ross Jr. PDQ Enterprises32. Donal Byrne Corvil33. Alfred Eskandar Portware34. R. Cromwell Coulson OTC Markets Group35. Masayuki Hosaka Rakuten
36. Peter Maragos and David Karat Dash Financial37. Amar Kuchinad Electronifie38. Jennifer Nayar SR Labs39. Dave Snowdon Metamako40. Dan Raju Tradier