February 6, 2017 / 2:31 PM / 10 months ago

MOVES-Sjoberg quits as TriOptima CEO

LONDON, Feb 6 (IFR) - Per Sjoberg has stepped down from his role as CEO for TriOptima - the post-trade derivatives processing firm owned by NEX Group.

He will be replaced by Stuart Connolly, who joined NEX last November as head of client product development for NEX Optimisation - the pre and post-trade unit of the former ICAP. Connelly previously spent 18 years at Goldman Sachs, most recently as head of EMEA derivatives clearing services.

The appointment is subject to approval by Sweden’s Financial Supervisory Authority.

Sjoberg became CEO of TriOptima in May 2012, having served as executive vice president since the business was created in 2000 in Sweden. He will continue to provide advisory services to the company.

Through its swaps compression service, triReduce, TriOptima has led the tear up of US$923trn gross notional in redundant contracts. Through triResolve, the firm reconciles around 75% of all non-cleared OTC derivatives globally as well as a large number of cleared trades.

Connolly’s previous role at NEX saw him focus on the interoperability of all systems within the NEX Optimisation group. In addition to his clearing role at GS, Connolly also represented the bank on the European Regulatory Reform Committee and was involved in the bank’s implementation strategy for swap execution facilities.

“Stuart has strong knowledge of TriOptima having been a customer for many years while he was at Goldman Sachs and has a proven track record of relationship management skills and strategic thinking,” said Jenny Knott, CEO of NEX Optimisation. (Reporting by Helen Bartholomew; Editing by Ian Edmondson)

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