Instimatch Global has bolstered its management team with the appointment of Daniel Sandmeier and Michael Schmidt.
The duo will focus on growing Instimatch Global’s digital network of borrowers and lenders, which includes bank treasuries, corporate treasuries, and pension funds.
They will also drive international growth and build on the firm’s presence in Switzerland, Germany, Benelux, and the UK.
A former senior Credit Suisse executive, Sandmeier has joined Instimatch Global as CEO.
Sandmeier has also worked for Merrill Lynch and UBS in his career and is a former president of the Swiss Structured Products Association
Meanwhile, Schmit has joined Instimatch Global as executive chairman. Prior to this, Schmit co-founded Algomi, the bond market intelligence firm.
Prior to this, he held senior fixed income roles at Deutsche Bank and UBS.
Hugh Macmillen, founder at Instimatch Global AG, commented: “These appointments bring the breadth of institutional and fintech experience we need to scale Instimatch Global effectively.”
“The fintech revolution has yet to impact the money market world in which I made my career, and in establishing the firm I recognised the opportunity for fundamental innovation.”
“Instimatch Global has been up and running with a growing client base for over a year now, and we’ve found the key people to accelerate our growth.”
Commenting on his new role, Sandmeier said: “I’m delighted to lead Instimatch Global going forward. Bank balance sheet constraints and a reliance on traditional methods of price discovery and execution have amplified structural problems in the money markets.”
“As we talk to a wide range of market participants, we’re finding great interest in our digital network, which gives treasurers broader trading connections across industries and geographies, increasing choice and diversifying counterparty risks.”
Schmidt added: “New fintech solutions continue to enhance financial markets, but the potential for new technology has not yet been realised in money markets.”
“Instimatch Global delivers an alternative that provides better access to markets and pricing across borders, not just within them, and I believe my background will be helpful in stimulating large institutions to make the leap to a more digitised approach.”
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