Trading Technology Q&A: Frank Troise, Pico09.17.2019
On Tuesday, Pico said it appointed Frank Troise, former ITG CEO, to its board. Markets Media spoke with Troise to learn more about his new role and what opportunities he sees for the trading technology firm.
I’ve known Pico for quite some time. I’ve been a client of Pico. I know the management team. They are top-notch. Pico provides tremendous value in the industry. It’s an entity that I want to put my time, effort and energy into. Pico’s value proposition is becoming even more important.
Pico aligns very well with my experience in delivering client value in financial technology, in complex global product offerings that have a lot of moving parts and require a lot of focus. It’s about paying attention to the details to ensure that clients receive high quality outcomes along the way.
Pico CEO Jarrod Yuster said the goal is to lead market share of the $50 billion financial technology services market. How far away is Pico from leading in market share and how will it get there?
Pico is a leader in outsourced global infrastructure. The acquisition of Corvil, which delivers infrastructure performance analytics, is another leading capability and it is a signal and a message of what Pico is all about: being best-in-class in delivering high-end infrastructure technology capabilities across the capital structure and globally.
What will be your duties as director?
As a board member I primarily provide governance and guidance to the executive team. I see my role as working with a top-notch executive team, helping guide them through continuous innovation, and partnering with them as they look to grow and expand their capabilities.
Where is the growth in Pico’s business?
There are tremendous opportunities in continuing to advance capabilities as the industry evolves and to expand the geographic scope of the business. There are also opportunities from the recent acquisition of Corvil.
So there are opportunities for geographic scope and product expansion as well as more client segments to pursue.
Will growth be primarily organic or via M&A?
It’s a combination of both. There are tremendous opportunities organically, sticking to the knitting, being best-in-class at what they do and expanding geographic scope. There is also product scope around infrastructure management and delivery as well as extensions from the Corvil acquisition. Additionally, Pico has opportunities to expand through acquisition.
Infrastructure and sustainability will be one of the biggest opportunities in alternative investments.
Remote work and volatile markets require a flexible, resilient, and scalable platform.
Creating a cloud roadmap enables firms to pinpoint areas of operational risk.
The ultimate goal is to develop an infrastructure social acceptability index.
Other platform updates include enhanced client reporting.