Torstone Technology, a leading provider of post-trade securities and derivatives processing technology, has announced the doubling of its London office to cater for strong European growth over the course of the past year and through 2019.
The announcement comes after Torstone grew by over 50% in revenue year on year, which fuelled the hiring of over 50% more staff in Europe and globally in 2018. On top of many new global client wins, Torstone signed two major European clients in its last quarter.
Most recently, Torstone was recognised by the Financial Technologist as one of the ‘20 Most Influential FinTech Companies for 2019′, reflecting its achievements in transforming banks’ post-trade offerings and helping firms navigate a challenging operational environment.
The London headquarters expansion is due to Torstone’s entrance into new markets and is part of its broader ambitions for European, Asian and more recently North American growth. Torstone has a strong presence in Europe, currently servicing clients in the UK, Germany, the Netherlands and Norway, and is looking to expand further into Scandinavia as well as France, Belgium, Spain, Italy, Portugal, Luxembourg and Switzerland.
A number of senior appointments have been made across Product Development, Professional Services, Support and Sales functions and include Jean-Jacques Cuerq, who joins to focus on growth in key European markets. He has over 20 years’ experience in capital markets including over 10 years as head of Post-Trade Sales EMEA for FIS. Based in France, his in-depth knowledge of the European markets and blend of sales, operations and capital markets expertise renders him an ideal candidate to drive Torstone’s expansion on the continent.
Brian Collings, Chief Executive, Torstone Technology, said, “We’re delighted that Torstone saw a year of incredible growth in 2018 and we look forward to capitalising on this success to bring our products and solutions to our existing clients and new markets in the future. During this time of expansion, we remain committed to helping clients reduce their costs, minimise risk, and drive operational efficiency while achieving regulatory compliance.”