Blockchain Firm DelphX Names New Co-CEOsbr>
Technology and financial services company DelphX has announced the appointment of Patricia Ziegler and Stephen Bacso as co-CEOs. Founder Larry Fondren will assume the role of Executive Chairman and continue his efforts to drive the growth of the company through innovation and development of new customers.
DelphX is dveloping a cloud-based platform that employs distributed ledger technology (DLT), actuarial science and reinsurance protocols to enable fixed income dealers to offer new Rule 144A securities that optimally diffuse credit risk. The platform will be regulated by the SEC and enable dealers to competitively structure, sell and make markets in Covered Put Options (CPO) and Covered Reference Notes (CRN).
Ziegler, who joined the company earlier this year as Senior Advisor, is an experienced executive with nearly 25 years in the financial services industry. Ziegle was most recently President and Chief Operating Officer of Continuum Financial Centres. Prior to that role, she served in key executive leadership roles—including Chief Marketing and Corporate Strategy Officer, Chief Corporate Services Officer and Chief Operating Officer—at Financial Horizons Group, a Canada-based financial services firm.
Bacso has served as Chief Technology Officer for DelphX since 2017, leading the development and deployment of the DelphX Alternate Trading System (ATS). He is an accomplished technology entrepreneur with a track record of success. His first company PixStream developed a video networking platform for telecommunications companies that was acquired by Cisco. Stephen has also designed and implemented blockchain, machine learning and artificial intelligence technologies focused on financial asset management and personalized medicine.
According to DelpX, the two will play significant roles in raising capital, developing new customer relationships, and leading the company’s growth strategy and execution. Ziegler will lead the company’s investor and public relations, corporate affairs, finance, marketing, communications and culture, while Bacso will continue to lead the DelphX vision and innovation in areas of technology and product as well as overseeing operations and implementation with customers.
“We’re delighted to introduce Patricia and Stephen as co-CEOs,” said Fondren. “The combination of Patricia and Stephen’s insights, expertise, and leadership will be vital as we now move to fully implement our strategy and seize the market opportunity before us. They are experienced results-oriented executives that uniquely complement each other’s skills.”
“We are thrilled to have Patricia and Stephen jointly lead DelphX forward,” said Keith Ainsworth, DelphX Non-Executive Director. “Larry has done an exceptional job of creating a compelling and critical solution for optimal management of default risk and materially enhancing credit yields. Patricia and Stephen will bring the right strategic leadership and operational skills to grow the company, effectively execute and deliver strong financial performance.”