Calastone takes on ex-BNY Mellon exec Dan Kramer for US expansion
UK-based global funds network Calastone has appointed Dan Kramer as its vice chairman to lead its expansion into America.
Now based in the Calastone’s New York office, Kramer will be coming from the Bank of New York (BNY) Mellon where he managed the end-to-end customer experience, as well as sitting on the Canadian investment service CIBC Mellon board as a member.
Nearly five years before this, Kramer worked at JP Morgan Chase as head of fund services, going from overseeing 4,800 employees to 8,300 employees in the eight years he spent there.
“The Americas represent a significant growth opportunity for Calastone and Dan will be instrumental in directing our strategy for the region,” says Calastone CEO Julien Hammerson.
Calastone’s CEO sees the opportunity to present the Americas with its technology offering as “a key inflection point for the ongoing success” of the business worldwide.
With more than thirty years experience in the asset management and services space, Kramer is now looking forward to joining a company at “such a pivotal stage in its development”.
“This is a unique proposition which I know can add significant value to the American funds markets which is the natural next step for the company’s growth,” Kramer says.
This year Calastone introduced its blockchain-enabled distributed market infrastructure product, which it says is “creating the world’s largest financial community connected using distributed ledger technology”.
Kramer describes this technology as “a step-change for the global funds industry”, because it enables the asset management market to benefit from greater efficiency, friction-free trading and lower costs.
In his early career Kramer worked in equities at Thomson Reuters, then known as Thomson Financial. He also spent time working in operations for Germany-headquartered DWS Investments, as well as being managing director at Merrill Lynch and an executive director at Morgan Stanley.