VANCOUVER, British Columbia--(BUSINESS WIRE)--FINCAD, a pioneer in providing pricing, modeling and risk analytics, today announced the appointment of finance risk management veteran, Mark D’Arcy, as President and Chief Executive Officer. D’Arcy previously served in the same position in an interim capacity.
“Mark is the right person to lead FINCAD as we embark on an exciting year of product enhancements that extend our reach into the cloud,'' said Geoffrey Fite, Chairman of the Board. “Mark brings decades of expertise working for some of the largest global financial institutions in risk management and a lengthy leadership track record. He has exactly what it will take to build on FINCAD’s legacy and drive new innovation in how we serve customers and expand to new markets.”
Increased regulatory pressure on financial institutions following the 2008 crisis has necessitated the need for precise, transparent, and scalable solutions for pricing derivatives and fixed-income products. The termination of the Libor interest rate benchmark at the end of 2021 makes that need much more acute. FINCAD’s best-of-breed technologies optimize risk and return through simplified and direct control over the valuation and analytics of derivatives, with the widest range of instrument capabilities on the market.
“I am thrilled to be joining FINCAD in a permanent capacity at such a pivotal time,” D’Arcy said. “Leading risk management functions at a number of large international financial institutions has taught me managing risk well is a competitive advantage. I am excited to bring this ethos and industry knowledge, shaping the next chapter of FINCAD and helping our customers manage and take risk with confidence.”
Prior to joining FINCAD, D’Arcy served as Executive Vice President, Risk Management at Wells Fargo. He was previously Senior Vice President, Enterprise Risk Management at State Street and Vice President at Goldman Sachs.
Backed by more than 30 years of experience, FINCAD is a pioneer in providing pricing, modeling and risk analytics to financial institutions such as asset management firms, banks, insurance companies, hedge funds as well as corporate treasury departments. From the most basic to the bespoke, FINCAD has the financial engineering expertise to address any derivative challenge. FINCAD empowers global organizations to optimize risk and return through simplified and direct control over the valuation and analytics of derivatives. With the most precise, transparent and scalable technologies for pricing derivatives and fixed-income products, FINCAD’s highly dedicated customer support team goes above and beyond to help customers achieve their goals. FINCAD is headquartered in Vancouver, Canada. For more information, visit www.fincad.com.