This content is from: Portfolio

The 2015 Tech 50: Lance Uggla

The Markit CEO jumps to No. 4 on this year’s Tech 50 ranking.

Lance Uggla
Chief Executive Officer

For 11 years after he founded Markit in 2003, Lance Uggla reveled in the independence of private ownership — even if his big-bank stakeholders could at times be tough bosses. But he doesn’t regret taking the IPO plunge in June 2014, raising $1.3 billion. (A year later London-based, Nasdaq–listed Markit closed a secondary offering, and its valuation was $4.6 billion.) “There’s a lot more transparency as a public company, and it’s been exciting to respond to the new benchmarks,” says Uggla, 53. “Going public gives you additional tools to work with and currency and confidence in your value proposition. It also allows you to be more attractive to potential acquisition targets.” So it has been full speed ahead, via both organic and acquired growth, for the financial data and technology services company that started out valuing credit derivatives with financing from TD Securities, where Uggla used to work. Revenue rose 12 percent last year, to $1.07 billion. In June, Markit moved to bolster its $300 million Solutions segment with an agreement to acquire corporate actions and posttrade processing company Information Mosaic. Building on its July 2014 purchase of Compliance Technologies International, Markit has launched a joint venture know-your-customer registry with business-process specialist Genpact. Markit Collaboration Services, an instant messaging alternative to Bloomberg unveiled in 2013, merged last December into the Goldman Sachs Group–led Symphony Communication Services, and Uggla remains a believer: “We’re betting on Symphony as a place to leverage our products through. We think open source is very important for the industry.”

See the full story, “The 2015 Tech 50: Racers to the Edge.”

The 2015 Tech 50

1. Jeffrey Sprecher
Intercontinental Exchange
2. Catherine Bessant
Bank of America Corp.
3. Phupinder Gill
CME Group
4. Lance Uggla
5. Robert Goldstein
6. Shawn Edwards &
Vlad Kliatchko
7. R. Martin Chavez
Goldman Sachs Group
8. Deborah Hopkins
Citi Ventures
9. Stephen Neff
Fidelity Investments
10. Adena Friedman
Nasdaq OMX Group
11. David Craig
Thomson Reuters
12. Daniel Coleman
KCG Holdings
13. Michael Spencer
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Christopher Perretta
State Street Corp.
18. Antoine Shagoury
London Stock Exchange Group
19. Kevin Rhein
Wells Fargo & Co.
20. Neil Katz
D.E. Shaw & Co.
21. Lee Olesky
Tradeweb Markets
22. Richard McVey
MarketAxess Holdings
23. Seth Merrin
Liquidnet Holdings
24. Robert Alexander
Capital One Financial Corp.
25. Frank Bisignano
First Data Corp.
26. John Marcante
Vanguard Group
27. Joseph Squeri
28. Lou Eccleston
TMX Group
29. Claude Honegger
Credit Suisse
30. Chris Corrado
31. David Gledhill
DBS Bank
32. John Bates
Software AG
33. Michael Cooper
BT Radianz
34. Gary Scholten
Principal Financial Group
35. Sunil Hirani
trueEX Group
36. Hauke Stars
Deutsche BÖrse
37. Brian Conlon
First Derivatives
38. Jim Minnick
39. Lars Seier Christensen & Kim Fournais
40. Tyler Kim
41. Jim McGuire
Charles Schwab Corp.
42. Steven O'Hanlon
43. Sebastián Ceria
44. Yasuki Okai
NRI Holdings America
45. Stephane Dubois
46. Mazy Dar
47. Brian Sentance
Xenomorph Software
48. Mas Nakachi
49. John Lehner
BNY Mellon Technology Solutions Group
50. Jock Percy

Related Content