Jennis brings over three decades of experience in core aspects of collateral management, including strategy, business and product development and execution; margin, settlement and custody operations; collateral and cash optimization; and regulatory and risk management. His previous roles include leading Strategy and Strategic Partnerships at Transcend, developing blockchain use cases and solutions for PeerNova, Executive Chairman at DTCC-Euroclear GlobalCollateral, spearheading the Margin Transit Unit, as well as global roles at Morgan Stanley and Banker Trust, supporting the various collateral businesses, including Prime Brokerage, Derivatives, Commodities, FX, Repo, and Wealth Management.

This strategic appointment follows Pirum’s continued successes in growing its ColletaralConnect client-base on both sides of the Atlantic. The cloud-based, Software-as-a-Service (SaaS) solution enables firms to manage and optimize collateral across all major venues and products - including securities lending, repo and derivatives - and to solve critical objectives like LCR, NSFR and RWA. As a result, CollateralConnect clients enjoy substantial savings in terms of funding costs, capital usage and improved business performance.

Having already rolled out CollateralConnect at many of the largest and most complex financial institutions in the world, Pirum has also collaborated with BNY Mellon on a joint collateral optimization service, ECPOConnect.

Mark Jennis said: “I am thrilled to join Frank Seibold’s team in New York and I look forward to working closely also with Todd Crowther (Head of Corporate Development & Collateral Services), as part of the the global Business Development team. During my conversations with Pirum’s leadership, it became crystal clear to me that this role represented a unique opportunity both to expand the footprint of a cutting-edge collateral product and to play a key role in upgrading the entire collateral industry’s conception of what best-in-class looks like.”

Frank Seibold, Head of Commercial Development, Americas, at Pirum, said: “I am delighted to have Mark join our team. His deep industry expertise, which is both comprehensive and diverse, coupled with his client-minded, problem-solving mentality, harmonizes perfectly with the spirit of collaboration and innovation that defines Pirum’s culture. Tapping into the potential of CollateralConnect promises to transform the collateral management workflow, a crucial component of the industry that Pirum caters to. With that in mind I look forward to seeing Mark’s impact in terms of growing the CollateralConnect community in North America and beyond.”