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A-Team Insight Blogs

‘New’ Interactive Data Starts to Shake Institutional Trees

Six months after the completion of its acquisition by venture capitalists Silver Lake and Warburg Pincus, Interactive Data’s new corporate structure is beginning to emerge. As it puts the new management lineup in place, the company is undergoing a technology revamp, kicking off in its Real-time business, which itself is starting to attract significant institutional interest.

A glance at the Interactive Data website gives lie to new chairman, CEO and president Mason Slaine’s vision of the restructured Interactive Data organisation, with the incoming CIO and COO key additions to the new look. Alex Goor is chief information officer, having been named to the post immediately after Slaine’s own appointment. Having cut his teeth at Instinet and the company’s Inet ATS, Goor – ostensibly replacing former CTO Stephan Wolf – is spearheading the technology review, with his front office background apparently dictating a low hanging fruit approach; hence the initial focus on the Real-time group.

The other significant addition to the team is COO Jay Nadler, who has joined Interactive Data after following Slaine through his various ventures, starting with Thomson Financial in the 1990s, followed by Information Holdings from 2000 to 2010, and culminating in MLM Information Services from 2005 until last year. Nadler is no ordinary COO. His list of responsibilities includes institutional business, sales, marketing and procurement. As such, key executives of the Bedford, Massachusetts-based company now find themselves reporting to him. These include Jeff Banker, executive vice president, real-time market data and trading; Mark Hepsworth, president, institutional business and effective business head of all Interactive Data’s pricing and reference data activities; and Mary Ivaliotis, chief marketing officer. Nadler also looks after Interactive Data’s geographical heads.

Things have changed since Slaine’s arrival, with formerly London-based international head Roger Sargeant now relocated to Asia, and Brendan Beith, former EMEA sales chief, taking on business leadership in London. The sales teams in the US have taken a relatively straightforward structure, with reports into Nadler via the respective Real-time and non-Real-time business heads. In London, it’s slightly more complex, with a group of geographically organised sales heads, most notably Hilary London, erm, head of London, and business owners designated to various elements of Interactive Data’s activities. Thus Rob Lane heads the EMEA Real-time business; Anthony Belcher heads the EMEA valuations business; Bob Cumberbatch heads the EMEA reference data business; and Carsten Dirks heads the EMEA managed services business.

The new structure appears to have begun to pay dividends. Outsiders report a renewed credibility around the Real-time data feed business, which has struggled to establish itself as a real option for institutional customers. Indeed, there are indications of movement at a number of big US investment banks where Interactive Data is set to take on incumbent Thomson Reuters. Some in the marketplace have long lamented how Interactive Data has all the pieces to make a strategic play in the market data business. Could the time be now?

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