Sky Road, a managed services provider of customisable trading and risk solutions, has opened a New York City office to better service both domestic and international institutions.
The expansion comes on the heels of recent new client successes and strong headcount growth, including the addition of Richard Itri who will serve as principal and lead the office.
The staff additions associated with the New York office opening increase Sky Road’s headcount by 32 per cent and add resources to the client services and engineering teams supporting both new and existing clients.
Dr John E Borse, founder and president at Sky Road, says: “Sky Road’s expansion to New York is key to our long-term growth strategy. Establishing a regional presence on the East Coast well-positions Sky Road to further deliver efficient and world-class service to our growing client base. Richard will serve as an excellent leader given his stellar reputation in the financial services IT industry and his deep domain expertise in hedge fund technology will be a valuable asset to the firm.”
“I am excited to join Sky Road and lead the New York office at this important juncture for the company. Sky Road’s Motion Services Platform is a truly unique service delivery model that blends the key components clients desire – software, domain expertise and daily operational process support – in a single package,” says Itri. “With the opening of the New York City office, our ability to service this important market will continue to expand.”
Itri brings over 15 years of IT executive experience to Sky Road including serving as chief information officer (CIO) at both Arbalet Capital Management and Arrowhawk Capital Group. As CIO, Itri led the strategic and operational technology planning across the various aspects of the alternative investment businesses in addition to managing day-to-day support of the firms’ trading, risk and operational infrastructures. Prior to his CIO roles, Itri served in numerous technology management positions at a variety of firms including Pequot Capital Management, HSBC’s alternative funds services group and AIG.
Itri will report directly to Borse, who is based in Chicago, Illinois.