EquiLend names former ION head Rich Grossi as new CEO
EquiLend, a New York-based securities lending platform, has named Rich Grossi as its new CEO.
EquiLend hires new CEO
In a statement regarding its latest hire, EquiLend says the former Openlink chief will work to “accelerate its growth and innovation within the securities finance market”.
Founded in 2001, EquiLend currently provides the market with a suite of data, trading, processing, compliance, post-trade and platform solutions.
A majority stake in the company was bought by US private equity firm Welsh, Carson, Anderson & Stowe (WCAS) in January this year for an undisclosed sum.
The deal includes a $200 million investment aimed at supporting EquiLend’s organic growth and acquisition activities.
With this, WCAS general partner Ryan Harper describes Grossi as “the ideal leader to take EquiLend into its next phase of growth”, due to his previous experience with trading, treasury and risk management software.
Grossi joins EquiLend directly from risk management, trading and workflow automation solutions provider ION Corporates, where he oversaw twelve core products during a four year tenure as CEO.
Prior to this, he spent over 16 years at ION subsidiary Openlink Financial, where he served various leadership roles, including CFO and CEO.
