We are delighted to bolster our management team with the following top-tier investment banking and institutional fintech experience:
Daniel Sandmeier has joined as CEO. A former senior Credit Suisse executive, he also worked for Merrill Lynch and UBS in his career, and is a former President of the Swiss Structured Products Association.
Michael Schmidt has become Executive Chairman. After a career in senior fixed income roles at Deutsche Bank and UBS, he went on to co-found Algomi, the bond market intelligence firm.
Instimatch Global was founded in 2016 by Hugh Macmillen, who is a member of the board of directors and now leads product development and innovation.
Sandmeier and Schmidt will focus on growing Instimatch Global’s digital network of borrowers and lenders, including bank treasuries, corporate treasuries, pension funds, insurance companies, asset managers, family offices and municipalities. They will also drive international growth, building on the firm’s presence in Switzerland, Germany, Benelux and the UK.
Instimatch Global’s mission is to change the way money market transactions take place by digitalizing traditional voice brokerage and by moving from local to global execution. Its cloud-based network connects borrowers with lenders, providing more efficient access, better pricing and the ability to diversify counterparty risk.
Institutional money markets have remained dominated by voice brokerage and relatively untouched by new solutions. With 50% of trading done bilaterally and 35% conducted via voice brokerage, digitalized trading remains in its infancy.
Hugh Macmillen comments: “These appointments bring the breadth of institutional and fintech experience we need to scale Instimatch Global effectively. The fintech revolution has yet to impact the money market world in which I made my career, and in establishing the firm I recognised the opportunity for fundamental innovation. Instimatch Global has been up and running with a growing client base for over a year now, and we’ve found the key people to accelerate our growth.”
Daniel Sandmeier says: “I’m delighted to lead Instimatch Global going forward. Bank balance sheet constraints and a reliance on traditional methods of price discovery and execution have amplified structural problems in the money markets. As we talk to a wide range of market participants, we’re finding great interest in our digital network, which gives treasurers broader trading connections across industries and geographies, increasing choice and diversifying counterparty risks”.
Michael Schmidt adds: “New fintech solutions continue to enhance financial markets, but the potential for new technology has not yet been realised in money markets. Instimatch Global delivers an alternative that provides better access to markets and pricing across borders, not just within them, and I believe my background will be helpful in stimulating large institutions to make the leap to a more digitalized approach.”