Landmark appointment of Goldman Sachs and Citi veteran
Boutique multi-asset Prime Broker, 26 Degrees Global Markets, has announced the appointment of ex-Citigroup, Goldman Sachs Treasurer and KPMG Partner Michael Cunningham as a Non-Executive Director to the Board, representing a landmark chapter in the company’s impressive global expansion.
26 Degrees Global Markets, the subsidiary of Jasdaq-listed Invast Securities Co (8709.JP), has cemented an enviable reputation as a world leader in non-bank Prime Services. With a client base of brokerages and hedge funds spanning the globe, the company has experienced impressive growth in its prime services offering, which gives institutional clients collateralised access to premium liquidity in OTC FX, Metals and Energy products, as well as direct connectivity to over 30 global exchanges and OTC venues.
In a notable development which underscores the top-tier positioning of the firm, 26 Degrees Global Markets has attracted ex-Goldman Sachs and Citigroup Treasurer, Michael Cunningham, to join the Board of the company in Sydney. Mr Cunningham’s career in Financial Markets, Risk Management and Advisory roles spans three decades. In addition to his financial markets roles at Goldman Sachs and Citibank in Australia and Asia, Mr Cunningham also served as the Chief Risk Officer: Oceania Region for Bank of Tokyo-Mitsubishi UFJ. Most recently, Mr Cunningham served as a Partner in KPMG’s Financial Risk Management Practise.
CEO of 26 Degrees Global Markets, Gavin White has warmly welcomed Mr Cunningham to the Board; “I am honoured to welcome Michael to the Board of 26 Degrees Global Markets. It is a huge endorsement of our business and our future plans that we have been joined by a person of such high calibre, personally and professionally. Michael’s expertise is second to none. His intellect and industry experience will provide immeasurable value to the discussions and decisions at Board level”.
“26 Degrees is the clear leader in its class and I’m excited to be involved in the next phase of its evolution and development” Mr Cunningham said.