BTON Financial announced on Monday that it has named Ray Tierney as its new Non-Executive Director, effective immediately.
According to a recent press release, Ray Tierney, an executive veteran in the financial industry, has been appointed by BTON Financial, the independent broker-neutral dealing desk technology for investment managers, to the position of Non-Executive Director.
He will play a fundamental role in directing the company and expanding BTON Financial’s U.S. footprint. Additionally, he plans to take its technology and data-driven dealing desk solution to the global investment management community.
Ray Tierney’s Vocational Background
Prior to joining BTON Financial, Tierney has been a self-employed Strategic Advisor & Non-Executive board member since April 2017. This includes his previous role as COO & President with iSENTIUM, LLC. He was responsible for the development and Execution of the strategic vision and lead financial planning, according to his LinkedIn profile.
Before self-employment, Bloomberg LP utilised his services. Tierney joined the institution in April 2010 as CEO and President of Tradebook. After three successful years, he took on the extra duties of Global CEO of Trading Solutions. For another two and a half years, he retained both positions and oversaw 600+ employees across 3 business units.
Earlier to Bloomberg LP, Tierney served as Global Head of Trading and Execution at Morgan Stanley Investment Management. From September 2006, he oversaw a global team numbering fifty employees for a Top-10 Global $300 Billion Equity Asset Manager.
Additionally, at Morgan Stanley, Tierney began as a Distribution Manager in 1994 and ran the US equity sales trading. After that, he received a promotion to the rank of Managing Director. Over eight more years, he oversaw 90+ employees in equity capital markets. Here, he was responsible for the CASH Equities Distribution business and Portfolio Trading. In January 1994, he levelled up to become the Senior Head Sales Trader. This involved being a Relationship Manager and Execution Consultant where his primary coverage responsibilities were Hedge Funds.
Also at UBS, he became an Executive Director and Distribution Head of NA Cash Products in January 1991. Then, he ran the US equity sales trading. In January 1986, Tierney became an Executive Director at CSFB sales trader and stayed there for five years. While at Paine Webber, he began as a Sector trader in January 1981 where he traded healthcare and technology stocks.
Provide and Evidence Best Execution
This announcement comes as no surprise as investment managers are increasingly looking to electronification to generate returns for end investors. Additionally, this occurs while meeting increasing regulatory Obligations and dealing with profit margin compression.
Commenting on the announcement, Ray Tierney, said: “I am looking forward to working with BTON Financial’s team as it pursues its expansion plans in the U.S. The industry is evolving rapidly and is now ready for cutting edge data-driven technology to both reduce friction in the trading process and retain alpha. Cost pressures are at an all-time high and asset managers are ready to implement and adopt innovative financial solutions such as ours. BTON Financial makes it straightforward for investment managers to automate workflows and connect to all brokers through its proprietary Smart Broker Router, which is driven by machine learning, data and analysis to both provide and evidence best execution.”
Dan Shepherd, CEO & Co-Founder said: “We are delighted to be joined by Ray in an advisory capacity. He brings tremendous expertise and specific industry knowledge to help us grow our business. Ray’s pedigree as an industry leader, driving product innovation, sales and strategy within electronic trading capabilities will be invaluable as we scale up and expand our footprint into North America to meet the considerable industry demand. We have made a number of strategic hires over the past months as the investment management industry is waking up to the potential that our technology can offer to automate workflows and evidence the best execution to really add a great deal of value to the trading function at asset managers.”
