NEW YORK, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Liquid Holdings Group, LLC ("Liquid"), a provider of SaaS-enabled trading, risk and fund accounting systems to the hedge fund market and the financial services community, today announced the appointment of financial services industry veteran and Liquid board member Brian Storms to the position of Chief Executive Officer.
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"We are delighted to announce Brian's appointment as CEO," stated co-founder and Executive Chairman Richard Schaeffer. "Brian's executive leadership and operational experience launching new businesses and driving growth in the financial services sector make him uniquely qualified to lead Liquid's growth in this dynamic space."
"I am thrilled to lead Liquid at this very exciting time. I believe the company is firmly positioned to disrupt a number of legacy approaches in the financial services market, particularly the underserved small to mid-sized hedge fund segment," said Storms. "I am attracted by the firm's innovative approach, efficiencies and scalability the Liquid platform delivers."
Since commencing operations in April 2012, Liquid has attracted more than 70 hedge fund managers to its proprietary, software-as-a-service (SaaS)-enabled technology that seamlessly integrates trading, risk management, accounting, reporting and administrative tools in real time, delivered through its cloud-based platform. Liquid's proprietary risk and institutional fund management system was founded by financial services veteran and former NYMEX Chairman Richard Schaeffer, and financial technology veteran and former Partner and Managing Director of ECHOTrade Brian Ferdinand.
"In forming the company, we recognized the market opportunity for an innovative, customizable and rapidly scalable solution for asset managers delivered via a cloud computing platform," said Brian Ferdinand, the firm's President and Co-Founder. "We are confident that Brian's industry expertise and track record make him the perfect choice to lead the company to the next stage of its trajectory."
About Brian Storms
Storms, 58, brings over thirty-five years of executive leadership experience in the financial services industry. Most recently, he was Chairman and CEO of NYSE Blue, a company focused on environmental and sustainable energy markets. Previously, he served in various executive leadership capacities at Marsh & McLennan, including as Chairman and CEO of Marsh Inc., one of the world's leading risk and insurance services firm, and as President and CEO of Mercer Human Resource Consulting. Before joining Marsh, Storms was President and CEO of UBS Global Asset Management – Americas and a member of both the UBS Global Asset Management Executive Committee and the UBS Group Managing Board. Prior to UBS, he served as President of the Prudential Investments mutual fund and annuity complex and was a member of the Prudential Securities board. He holds a bachelor's degree in economics from SUNY Stony Brook.
About Liquid Holdings Group
Liquid Holdings Group, headquartered in New York City with offices in London, was formed in January 2012 by financial services industry veteran and former NYMEX Chairman Richard Schaeffer, and financial technology veteran and former Partner and Managing Director of ECHOTrade Brian Ferdinand and commenced operations in April 2012. The Company has developed and provides proprietary next generation software technology that seamlessly integrates trading, real-time risk management, accounting, reporting and administration tools in a single integrated platform for hedge funds and the broader financial services community. Liquid's current and prospective customers include small to mid-sized hedge fund managers, asset managers, wealth management offices, family offices and financial institutions. The Company delivers its technology efficiently, quickly, and securely as a Software-as-a-Service, or SaaS, solution through the "cloud," or as a software installation on customer's premises. The advanced feature set of Liquid's platform includes customizable and rapidly deployable multi-asset class trading software coupled with real-time risk management, accounting and reporting capabilities. For more information, please see www.liquidholdingsgroup.com.
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