Transcend Enlists Capital Markets Operations Veteran Patrick Tessier to Drive CCP Central Development

by | Sep 8, 2021 | Capital Markets, Derivatives, News | 0 comments

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Transcend, a leading provider of analytics, optimization, and automation for collateral, liquidity, and funding has enlisted Patrick Tessier to lead the expansion of its end-to-end centrally cleared derivatives solution, CCP Central. Based in London, Tessier will lead the development of CCP-centric business logic and drive Transcend’s connectivity approach across new clearing houses.

Tessier joins Transcend as a Derivatives Product Manager with over 20 years of Cleared Derivatives Operations and Technology experience. He is a former Managing Director at Citibank, where he ran Global Cleared Derivatives Operations for several years, having previously held regional derivatives operations management roles at UBS and Credit Suisse. Tessier also managed technology vendors in the connected spaces of exchange trading and risk monitoring.

“As CCPs continue to expand their remit and absorb an even larger share of the sell side’s collateral resources, it is critical to maintain a platform that manages these scarce resources strategically,” said Bimal Kadikar, CEO Transcend. “As we expand our offering, Patrick’s domain and derivatives experience will help Transcend deliver a product that uniquely offers both actionable insights for funding desks and straight-through-processing for operations teams.”

“As the derivatives industry begins working through the lessons of last year’s COVID-related record activity, I look forward to delivering a critically needed solution to businesses that have traditionally relied solely on tactical tools,” said Tessier. “Transcend is unique in offering both smart optimization and operational productivity tools in a single product.”

Tessier is Transcend’s second UK-based addition as the company moves to accelerate its European Business. In July, the Company announced the hire of Rajen Patel to lead European sales, strategy and expansion efforts.

ABOUT TRANSCEND

Transcend is a leading provider of optimization solutions for collateralized businesses. With a growing roster of world-class banks and other financial institutions as clients, the firm is quickly becoming the gold standard for the real-time, firm-wide management of inventory, funding and liquidity. With more than 115 employees globally, Transcend addresses an array of regulatory and capital challenges that are facing the industry with a user-friendly, SaaS-based or on-prem collateral and liquidity management platform. For more information, visit transcendstreet.com.

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