R3 assembles expert team

Financial innovation firm R3 today announced the team tasked with managing the design and delivery of advanced distributed ledger technologies to global financial markets in partnership with its consortium of member banks.

It says the team brings together a unique set of expertise in electronic financial markets, distributed ledgers and blockchain technologies. They will be responsible for leading joint working groups with the 30 global banks involved in the project and facilitating a collaborative lab environment or “sandbox” to test and validate distributed ledger prototypes and protocols.

This announcement coincides with the addition of five more banks to R3’s distributed ledger initiative –BNP Paribas, Canadian Imperial Bank of Commerce, ING Bank, Macquarie Bank, and Wells Fargo & Co – bringing the total number of bank members to 30.

David Rutter, CEO of R3 comments: “The combined strength of our technology team and the diverse global footprint of our member banks – now including five more members – clearly differentiates us and puts us in a unique and exciting position within the distributed ledger space. The R3 collaborative model is the best way to quickly, efficiently and cost effectively deliver these new technologies to global financial markets. We look forward to welcoming more players to our growing team as the initiative continues to develop and evolve.”

The new appointments are based across R3’s New York, San Francisco and London headquarters and include:

Richard Gendal Brown, managing director, chief technology officer: Formerly executive architect for banking innovation at IBM, Richard Gendal Brown is described as a leading authority on advanced shared ledger technologies. In his 15-year career at IBM he specialised in the application of new technology in banking and financial markets. He is an adviser to several fintech startups and he mentors at London’s Startupbootcamp fintech accelerator.

James Carlyle, director, chief engineer: Carlyle has 25 years of in-depth IT experience as a software engineer, innovator and enterprise architect. As chief engineer for personal and corporate banking architecture at Barclays, he was responsible for the architecture and design of some of the banks’ most complex projects. He has co-founded two companies and raised EUR 4 million in venture capital funding to build innovative mobile data search and directory services.

Mike Hearn, director, lead platform engineer. Tim Swanson, director, head of research.