Pivot, a collaboration software company headed by former Hotspot FX chief executive John Eley, has hired Hotspot FX co-founder Steve Reich as managing director of product management and business development.
Reich rejoins Ely after previously serving as CEO of FX Bridge Technologies, a supplier of electronic currency options platforms for retail traders. He joined the firm as chief executive in early 2008 from Hotspot FX where he was chief operating officer. Before helping found Hotspot in 2000, Reich worked at Barclays Capital, HSBC Markets and Credit Suisse in a variety of trading roles.
“Steve’s track record as a professional trader and as a proven fin tech entrepreneur makes him a great addition to the Pivot management team,” says Eley. “Our client base continues to grow quickly and Steve’s contributions in product management and business development will be invaluable in leading Pivot to the next stage of development.”
Eley, who joined Pivot in 2008, previously co-founded and ran consultancy firm Managed Models after leaving Hotspot in 2006.
Jersey City-based Pivot provides liquidity management and collaboration software to the financial markets. Founded in 2004, it was created to streamline trade desk communication by connecting investors and brokers, financial content producers and service providers. The Pivot Point Network is a community of members and a central location for conversation, data and content exchange.
“With over 300 top-tier clients and more than 7,500 desktops, Pivot has a unique position in the industry,” says Reich. “I’m excited about the opportunity we have to transform how high-touch markets operate.”