Saphyre, which leverages patented AI technology to structure all pre-trade data while eliminating post-trade inefficiencies, announced the hire of their new Chief Operating Officer (COO) following their recent Series A announcement.
Shivers was also formerly the Executive Vice President and COO of Lincoln Investment, and brings deep industry expertise to help lead Saphyre’s operations and propel the fintech company forward during its growth phase.
Saphyre holds a leading position in fintech AI technology solutions
Saphyre has a robust reputation in the industry as a leader in AI technology solutions. It currently specialises in leveraging patented AI technology to digitise all pre-trade data and activities across multiple counterparties. This ranges from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians, and much more.
The fintech’s platform also maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry.
Driving Saphyre’s growth strategy forward
Speaking about the new hire, Gabino Roche, Saphyre’s CEO and co-founder, stated, “We’re extremely excited to have someone of Ray’s calibre joining the Saphyre endeavour. His twenty-plus years of experience in financial operations is invaluable to Saphyre’s expansive growth plans. We’ve already begun to implement many of his initial recommendations and, as a result, we are seeing our growth initiatives accelerate at a much faster pace than expected. I already see that we’ll be doing some amazing things together.”
Shivers also had this to say of his new role, “Joining the Saphyre group is an exciting opportunity for me. Along with the Saphyre team, I will be addressing long-term industry voids I have seen throughout my career. With the compression of the trade lifecycle continuing, the marketplace needs a utility to eliminate downstream issues.”
He continued, “Saphyre is that utility. I instantly saw the technology as a gamechanger. I am on this endeavour to be part of real, tangible innovation that is changing the staid and outdated manual paradigm of finance operations while simultaneously positively impacting front office revenue."
Tim Bubnack, Managing Partner at HCAP Partners and Saphyre board member, added, “The Saphyre team is comprised of a group of highly talented individuals who have developed a Fintech platform that brings substantial value to all parties involved with trading institutional assets. On behalf of our board of directors and strategic partners, we are thrilled to be in a position to attract executive talent with the pedigree of Ray Shivers.”