Algomi today announced that two of the firm’s founders will be leaving the company. Michael Schmidt, Chairman, and, Rob Howes, COO will depart after more than five years, having taken Algomi from a concept to the prominent name it now is within global FinTech and Fixed Income. Both remain shareholders in the company.
Algomi CEO, Stu Taylor said: “Rob and Michael have been fundamental to the creation, growth and success of Algomi. They have taken the firm from an idea, to a new firm, to a global technology business with a presence on three continents. Both have been instrumental in making Algomi the trusted partner to some of the world’s most respected names on both the buy and sell side in Fixed Income.”
As Chairman, Michael has represented Algomi to clients, investors and, above all, been a mentor to many of us. His role as the company's statesman cannot be understated both externally and internally.
As COO, Rob has built the bedrock of corporate structure that makes Algomi function. From nearly day one, Algomi was never an immature ‘start-up’. Rob has always striven to make Algomi a professional company that investors would invest in, that employees would work in and a firm that customers can rely on. His professionalism and focus on process has enabled recent milestone moments in our history with investments from Euronext and AllianceBernstein.
We thank them both for their massive contributions to Algomi.
This year has seen a significant expansion of Algomi’s product line. The firm partnered with AllianceBerstein to acquire ALFA, which provides cross-market information on liquidity and trade intent to give the buy-side a real-time view of the entire bond market. The firm also expanded a partnership with Euronext to launch a global joint venture. Both moves have allowed the company to offer an increasingly comprehensive suite of fixed income solutions to both the buy and sell side.