Richard has been working in the financial services market place for 40 years, focusing primarily on operations. He began his career in settlement operations at Sheppards and Chase and Vickers da Costa Stockbrokers, and then moved to manage pan European fixed income operations as a Vice President at Citibank/Citicorp in London, where he began to manage projects and systems as well as day-to-day operations. He then joined Morgan Stanley International as Head of the London Settlements Operations, where he managed a staff of 120, and supported Morgan Stanley’s entire product range, from fixed income to equities, currency, convertible bonds, warrants, options, custody, international prime brokerage, international correspondent clearing, stock loan and the syndication of new issues. While at Morgan Stanley, Richard led the development of new international operations, an initiative that led to more efficient and cost-effective clearing, and which resulted in the streamlining of Morgan’s New York-based international operations department from 90+ people to 5. Richard joined TIR Securities in 1992 as its COO, where he was responsible for all operations in the firm’s four global offices: London, Hong Kong, Tokyo and New York.
When TIR Securities was acquired by E*TRADE, Richard ultimately became Managing Director, Global Head of Operations at E*TRADE, where he led the Operations group in numerous complex integration projects, including the acquisition of Harris and Brown, and the complete overhaul and rationalization of E*TRADE’s global operation for both Institutional and Retail, in the US and abroad, as well as integrating many of the common bank and brokerage functions within the firm to create a highly cost effective and scalable organization. These efforts included establishing a Manila based captive operations company, creating a 22 hour operating window for the company and resulted in significant cost savings, all while the company was experiencing double digit growth in customers, trades, and assets