Cinnober strengthens management team with three senior appointments

Cinnober Financial Technology, a global independent provider of technology solutions for the finance industry, announces the appointments of Fredrik Nihlén as Cinnober Group CFO, John Yonker as Simplitium CEO and Patrick Tessier as Minium CEO. Simplitium and Minium are wholly-owned subsidiaries of Cinnober. These appointments strengthen the Group’s management team and reaffirms Cinnober’s focus on organic growth, building on its proven solutions.

• Fredrik Nihlén, previously Vice President of Finance, has been promoted to Group CFO, replacing Peter K. Lenardos who was appointed Group CEO in August. Fredrik will lead the finance department and focus on the financial reporting for the Cinnober Group.
• John Yonker has been promoted to the role of CEO of Simplitium, a Cinnober subsidiary specialising in transparency services to the finance industry, taking over from Per-Anders Häll-Bedman who has served as Interim CEO since May. John, who previously held the role of COO at Simplitium, will focus on bringing the firm into profitability in 2019.
• Patrick Tessier has been appointed CEO of Minium, Cinnober’s subsidiary delivering technology to sell-side firms to modernise their risk and post-trade processes. Patrick joined Minium as COO in February 2017 and has been an integral part of its success.

Peter K. Lenardos, Group CEO of Cinnober, comments: “These appointments are instrumental in driving the group forward as we accelerate the development and strengthening of our business areas. The appointment of Fredrik Nihlén as Group CFO will help us deliver on our commitment to achieve profitability in the coming year and to continue to self-fund our business activities, as well as meeting expansion goals.”

Peter adds: “John Yonker and Patrick Tessier have both shown exceptional leadership in their respective businesses. Under Patrick’s guidance, in under 18 months since its inception, Minium has designed an innovative real-time risk management and post-trade technology solution, grown to nearly 50 employees and announced its first client, Marex Spectron. In parallel, under John’s leadership, Simplitium has achieved a number of milestones in terms of client acquisition and developing ground-breaking solutions for trading, pensions and insurance. I look forward to continuing to work closely with both John and Patrick to further build Cinnober into the preferred solutions provider for financial firms globally.”

About Fredrik Nihlén
Over the past nine years Fredrik has held a series of roles within finance. Prior to joining Cinnober, Fredrik spent 5 years at DIBS Payment Services where he progressed to Head of Finance, responsible for the accounting, accounts receivable and controlling teams. He was also responsible for the firm’s financial reporting. Prior to this, Fredrik worked at Swilkenbridge where he progressed to Business Controller, responsible for analysis of existing customers and variances against budget/forecast. Fredrik joined Cinnober in February 2018.  

About John Yonker
Prior to joining Simplitium in 2016, John’s background was in Equities technology. During his 9 years at Credit Suisse (New York / London / Singapore / Hong Kong), he progressed to regional management positions for European and Asia Equities IT Trading and Execution. John then spent 4 years at Macquarie (Hong Kong) as regional Asia IT Operations manager before completing an MBA at HEC Paris (2014-2016). Upon graduation, he joined Simplitium to develop Simplitium’s insurance service and thereafter filled the role of COO.  

About Patrick Tessier
An HEC graduate, Patrick spent the first 9 years of his career running the Operations and Compliance function of Finacor Vendome, the leading broker on the French derivatives exchange, Matif, before moving to the UK in 1998 to run the European Listed Derivatives Operations group of Credit Suisse. In 2003, he became the CEO for the London and Northern Europe business unit of French trading and clearing software provider, GL Trade. He joined UBS in 2007 and ran their European Listed Derivatives operations for 3 years as they were completing the integration of ABN Futures and changing back-office platforms. Prior to joining the Cinnober team, he was the Global Head of Cleared Derivatives and Agency Collateral Operations at Citibank for 7 years. 

For further information regarding Cinnober, please contact:
Indre Dudulyte, Greentarget
+44 (0)207 250 6995
indre.dudulyte@greentarget.co.uk 

About Cinnober
Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. Cinnober’s solutions are largely based on the TRADExpress™ Platform, incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and market surveillance. 

Cinnober’s customers include the Asia Pacific Exchange, Australian Securities Exchange, B3, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand, among others. 

Cinnober’s shares are traded on the Nasdaq First North exchange and the company’s Certified Advisor is FNCA Sweden AB. For additional information, please visit www.cinnober.com.  

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