An outdated Japanese proverb says, “Katte Kabuto no o wo shime yo,” that means “After the victory, tighten your helmet.”
Jarrod Yuster, the founder and CEO of Pico, follows this recommendation.
“You may by no means get complacent,” he stated in an unique interview for Benzinga after Pico made one other acquisition, increasing its already rising enterprise.
At upcoming Benzinga’s Fintech Deal Day occasion in New York Metropolis on Nov.13, this Yale and Columbia alumnus will share his views in a dialogue titled, “Unleashing the Potential of Full Expertise Ecosystems.”
Concerning the Pico CEO
Yuster is a Wall Avenue veteran with greater than 20 years of expertise in institutional buying and selling. Curiously, he began his profession as a product engineer, performing semiconductor analysis at Intel Company.
After venturing into finance, he grew to become the worldwide head of Merrill Lynch’s Digital Buying and selling division. He constructed that division from the bottom up, overseeing gross sales, buying and selling, danger, execution and product growth earlier than leaving to start out Pico in 2009.
Initially, he envisioned the corporate as a broker-dealer offering technology-driven options earlier than discovering their area of interest.
“We realized that the expertise enterprise was the true enterprise, and ultimately, we pivoted,” he stated, explaining that the agency’s cloud-driven expertise, connectivity and knowledge have been their edge.
Pico now works with greater than 430 shoppers, together with banks, exchanges, asset managers and quant-driven hedge funds. With nearly 500 workers throughout 19 places of work, the agency is changing into an integral part of the worldwide monetary infrastructure.
Yuster singled out essential developments that give tailwinds to Pico’s growth. These embrace continued electrification of markets, world borderless buying and selling, progress in buying and selling quantity and knowledge charges, modernization of IT methods and eventually, M&A alternatives.
Final 12 months, Pico signed an settlement with a non-public fairness funding agency, Golden Gate Capital. A deal value $200 million would assist Pico enter the following part of M&A growth.
“Now we have made vital investments in world growth, product innovation, operational excellence, and in our group, thereby laying the inspiration to assist the following wave of considerable progress,” Yuster stated in a press release.
True to his phrases, he did not relaxation on his laurels.
Since then, the corporate has cleared a number of milestones: partnering up with BSO Accomplice to broaden world crypto choices, launching Pico Efficiency Lab to copy real-world buying and selling setting for product stress-testing, increasing into the Center East and providing enhanced capabilities by Amazon Internet Providers (AWS).
Benzinga’s Fintech Deal Day & Awards occasion will enlighten highlights of the present digital asset area. Be a part of Benzinga’s Way forward for Digital Property in New York Metropolis on Nov. 14, 2023, to remain up to date on developments like AI, rules, SEC actions and institutional adoption within the crypto area. Secure early bird discounted tickets now!
Picture: Jarrod Yuster/Pico