Transcend enlists Patrick Tessier to lead the expansion of its end-to-end centrally cleared derivatives solution, CCP Central, as derivatives product manager.
Based in London, Tessier will lead the development of CCP-centric business logic and drive Transcend’s connectivity approach across new clearing houses.
With more than 20 years of cleared derivatives operations and technology experience, Tessier is a former managing director at Citibank, where he ran global cleared derivatives operations.
Prior to this, he also held regional derivatives operations management roles at UBS and Credit Suisse. Additionally, Tessier managed technology vendors in the connected spaces of exchange trading and risk monitoring.
Bimal Kadikar, CEO of Transcend says: “As CCPs continue to expand their remit and absorb an even larger share of the sell-side’s collateral resources, it is critical to maintain a platform that manages these scarce resources strategically.
“As we expand our offering, Patrick’s domain and derivatives experience will help Transcend deliver a product that offers both actionable insights for funding desks and straight-through-processing for operations teams.”
