Tim Larason, GBST’s newly appointed head of development for Americas business, spoke to Sell-Side Technology about his new position and how he hopes to help expand the firm into the US.
Prior to joining GBST, Larason served as head of Barclays Capital’s US electronic trading technology division. For more about the Larason hire: GBST names new technology lead for its US team
Sell-Side Technology: You mentioned GBST was appealing because it’s a forward-thinking company. What specifically made GBST standout as a firm that has its eye on the future?
Tim Larason: GBST is revolutionizing the way that middle- and back-office systems are implemented. By leveraging a highly customizable modeling solution, the GBST technology suite can solve client problems quickly, efficiently, and robustly. Additionally the industry itself is undergoing a major shift in perspective, as more and more clients are looking to outsource their technology stacks, or bring their in-house solutions up to the present from the dark days of mainframes. GBST represents the perfect solution for those needs as our technology is built on cutting edge best practices and is future-proofed through its modeling approach to implementation. All things that distinguish us from our competitors.
SST: What are your top priorities and goals with your new position?
Larason: Ultimately my first priority is to continue the trend that started with the hiring of Barry Raskin, Michael Vellecca, and myself, by recruiting a team of developers and support engineers who have experience in the US market. The firm’s philosophy is the closer we are to our clients, the more effective we will be in satisfying their requirements. Something I wholeheartedly agree with.
My second priority will be on working with the global team to take full advantage of the vast capabilities of the GBST product line. GBST has a significant market position in Australia, and has made material inroads into Asia and EMEA. The US represents a whole new level in terms of requirements, which is the rationale behind building up our US presence with long-standing market experts that understand the local demands. Applying the existing product suite to the particularities of the US market is paramount for our local team.
SST: Are there any areas in the industry you feel GBST has the potential to expand into in the near future?
Larason: With the recent industry trends of increased regulation, more and more companies are looking for efficiencies and minimization of costs. GBST has a unique opportunity to take a well-established and proven solution, and apply it to a different region that is in desperate need of a modern, flexible solution. As a global company with top tier clients that is expanding its presence in the US market, clients should look to us if they want to streamline their technology, cut costs in the middle and back office spaces, and improve their straight-through processing capabilities.
SST: Additional comments.
Larason: GBST runs the gamut of solutions for the financial markets, whether it is in support of pension programs, risk management, or compliance, or through solving a wide range of middle office and back office problems. I’m excited that I’ve joined the firm at a time that these issues have become mission-critical to the financial industry.