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July 24, 2012
Maxeler Appoints New Senior Executives
LONDON, July 24 -- Maxeler, pioneer of Maximum Performance Computing, is delighted to announce two senior management appointments. The senior executives will join the existing team of specialists in applying high-performance computing to deliver previously infeasible levels of risk calculations to financial organizations.
Stephen Weston, previously Managing Director and Global Head of Applied Analytics at J.P. Morgan, joins Maxeler as Chief Development Officer (CDO).
Steven Hutt, formerly Managing Director and Global Head of Credit Analytics at UBS, joins as Vice-President of Client Analytics.
Oskar Mencer, Founder and CEO of Maxeler, said he was delighted about the new senior additions to the team: “It has always been our aim to provide complete solutions to computational problems that move our clients an order of magnitude beyond the competition. Clearly, such a disruptive technology requires industry leaders to drive the transformation of the business”
“With the knowledge and experience that both Stephen and Steve bring to Maxeler, we are in an excellent position to transform both the business and process of financial computation,” he added.
At J.P. Morgan, Stephen Weston led the Applied Analytics Group responsible for accelerating mathematical models for trading and risk management. Prior to joining J.P. Morgan, Stephen Weston also held senior quantitative and risk positions at several other major investment banks. He holds a PhD in mathematical finance from Cass Business School.
Commenting on his new role as Chief Development Officer at Maxeler, he said: “The overwhelming benefits of dataflow technology are directly measurable and undeniable. Having experienced them first-hand at J.P. Morgan, my new mission is to help the finance industry understand the revolution in value that this technology brings through making real-time computation and scenario analysis feasible, for both the largest and the most complicated problems.”
Prior to joining Maxeler, Steve Hutt lead the Credit Analytics team responsible for the design and implementation of all credit models used in front office trading at UBS. He has extensive experience in mathematical modeling for finance, risk and scenario analysis in both a trading and regulatory context. Before working at UBS, Steve held similar positions at Morgan Stanley and BNP Paribas. He holds a PhD in Mathematics from the University of Edinburgh and held several academic positions prior to working in finance.
He stated: “Banks have an unquenchable thirst for more compute power and it’s only going to get worse, so they are really struggling. They also have large, complicated IT systems and need solutions that seamlessly integrate. At J.P. Morgan, Maxeler has shown that they can deliver on both counts. Dataflow technology is going to be the future – my goal is to help the finance sector be part of it.”
About Maxeler
Maxeler Technologies, Inc. pioneers Maximum Performance Computing. The award-winning company delivers competitive advantage through combining its dataflow solutions with specialist consulting to achieve maximum performance computing (MPC). A ‘Cool Vendor’ in Gartner’s High-Performance Computing and Extremely-Low-Energy Servers 2012 report, Maxeler’s complete and scalable solutions include hardware platforms, software programming tools and application consulting. Its technology enables organisations to speed up processing times by 20-50x, with over 90% reduction in energy usage and over 95% reduction in data centre space. Please visit www.maxeler.com for more information.
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Source: Maxeler
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