CloudMargin Taps TriOptima's Connolly as CEO

CloudMargin has appointed former TriOptima chief executive Stuart Connolly as its new CEO.

Connolly replaces Steve Husk, who will be leaving the company. Husk has been with CloudMargin since it was a start-up.

Connolly was most recently the group CEO of TriOptima and was a managing director at Goldman Sachs. He joined the NEX Group in November 2016 as head of client product development and was appointed CEO of TriOptima in February 2017. At Goldman Sachs, Connolly held various positions. He last served as managing director in the securities division and was head of EMEA Derivatives Clearing Services FXPB. He joined the bank in 1998.

Mark Beeston, chairman of CloudMargin and managing partner and founder of Illuminate Financial, said Connolly’s experience in risk mitigation and long tenure overseeing highly regulated markets will bring CloudMargin even more growth.

“Stuart is a well-known, respected industry figure who has been a key leader in the risk mitigation business across prime brokerage, clearing, collateral and bilateral trade management,” Beeston said in a statement.

Husk joined CloudMargin in 2015 as executive chairman before transitioning to CEO. He helped promote utilizing the cloud for post-trade processing during his tenure.

CloudMargin last made a major personnel change when it hired Daniel Schwartz as its first chief information officer in November last year.