Top M&A, Quant Moves, and Outsourced Trading Stories of 2024: Part One

The TRADE’s most popular stories of 2024 have been tallied, and we’re here to break down the top 10 for you. From mergers and acquisitions to quant role changes and outsourced trading developments, there’s a lot to catch up on from the past year.

At number 10, FIS made a big move by acquiring Torstone Technology, a post-trade platform known for its global reach and technological innovations. This strategic acquisition will enhance FIS’ capital markets technology capabilities, building on their previous acquisition of SunGard in 2015. With Torstone’s expertise in securities and derivatives processing technology, this deal is poised to make waves in the industry.

Moving on to number nine, Citadel welcomed Mukunth Raghavan as the new head of American Treasury quants. With experience at Goldman Sachs and McKinsey & Company, Raghavan brings a wealth of knowledge to his new role at Citadel. His appointment underscores the importance of quantitative expertise in the financial sector.

And at number eight, we have news of a significant partnership between BNY Mellon and Goldman Sachs Asset Management. BNY Mellon will be providing buy-side trading solutions to Goldman Sachs Asset Management’s EMEA business, extending their outsourced trading services across fixed income, FX, derivatives, and ETFs. This collaboration reflects the growing trend towards outsourced trading, offering tailored solutions to meet the needs of institutional clients.

As we wrap up this recap of The TRADE’s top stories from 2024, stay tuned for more highlights in the days to come. From industry trends to key personnel changes, we’ll keep you informed on the latest developments shaping the world of finance and securities.