LONDON and NEW YORK, Jan. 13, 2020 /PRNewswire/ -- CloudMargin, creator of the world's first and only collateral and margin management solution native to the cloud, today announced the promotion of Armando Hernandez to the newly established role of Executive Director, Head of North America for the London-based global firm.
A 25-year veteran of the investment banking, derivatives and fintech industries, Hernandez joined CloudMargin in September 2018 as Director of New Business Development for North America. In the new role reporting to CEO Stuart Connolly, he takes responsibility for the entire North American operating unit, including sales, relationship management, partnerships and client onboarding.
Connolly said: "In this key new position, Armando will join the executive leadership team, heading up the effort to further grow our footprint and provide a framework in the U.S., which plays an ever-increasing role in our future. We established a North American presence less than four years ago and are delighted to now provide collateral management services to some of the largest financial firms in the world that are headquartered on the continent.
"We need the right team on the ground with strong leadership to ensure we meet the unique demands, challenges and regulatory developments of the U.S. market; educate new prospects about our award-winning, end-to-end cloud platform; and maintain our focus on outstanding client service and product excellence. Armando's extensive experience, strong client rapport, great reputation in the U.S. and proven leadership skills made him the ideal choice for this role."
Hernandez said: "It is a great honor to have the opportunity to lead the North American division for CloudMargin at this time of significant growth. I am proud of what we have accomplished since I joined in 2018 and am fortunate to work every day with such a dedicated and passionate team in New York."
Hernandez began his career at Citigroup, where he spent 11 years managing the global bank's derivatives collateral management and funding teams. Subsequently, he served in several senior roles at financial services technology firms including in product management, pre-sales, sales and business development.
An avid youth baseball coach, Hernandez spends his spare time advocating for children's education as a New York State Board of Education Trustee. He earned a bachelor's degree in finance from Hofstra University in New York.
Headquartered in London, CloudMargin created the world's first cloud-based collateral management workflow tool, which has earned nearly 20 industry awards and honors since 2015 for innovation and best-in-class technology. The firm's Software-as-a-Service (SaaS) model is helping many of the leading financial institutions globally – including brokerage firms, banks, asset management firms, insurance companies and exchanges – meet time-critical regulatory deadlines and reduce costs associated with collateral requirements that are growing dramatically. CloudMargin bypasses many of the shortfalls of legacy, on-premise software, enabling clients to experience rapid implementation and access to robust and secure collateral management workflow software. For more information, visit www.cloudmargin.com.
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Source: Company press release.