NEW YORK--(BUSINESS WIRE)--Two former banking executives, Dr. Viktor Ziskin and Dr. Yakov Lantsman, most recently the heads of M&T Bank's Centralized Modeling Division and Model Risk Management respectively are leading the new Beacon Banking venture.
Dr. Ziskin started his financial career at Goldman Sachs where he worked with Beacon co-founders Kirat Singh and Mark Higgins on the SecDb platform - one of the precursors of Beacon. He subsequently spent six years in consulting primarily for Asset Management and Commercial Banks, before taking on a role as the Head of Modeling at the CIT Group where he first began to develop a technical and cultural framework for a centralized modeling and analytics team that incorporated the best aspects from its counterparts at investment banks but tailored to the context and requirements of a regional bank. He then brought the same vision to M&T, building out the Centralized Modeling division focused on leveraging the large investments made in risk and regulatory areas towards improving business profitability and operational efficiency.
Dr. Lantsman brings over 20 years of experience in Financial Modeling and Risk Management, most of it in senior roles at top-tier consulting firms such as Deloitte and Protiviti as well as leading the quantitative team at Algorithmics - a role similar to the one he is now assuming. He spent the last several years building a modern Model Risk Management function at M&T which was instrumental in helping the organization successfully navigate through a complex regulatory environment.
Beacon Banking represents a natural evolution for the award-winning platform. Since its inception four years ago it has grown into a global firm with a strong brand reputation particularly in the derivatives trading, commodities and insurance areas and is now bringing the same approach to Banking as well as Asset Management clients.
"We are very excited about adding new capabilities to Beacon that will enable us to greatly expand and diversify our client base." said Kirat Singh, Beacon's CEO. "Viktor and Yakov bring the kind of experience and depth of knowledge about the issues faced by traditional banks that is needed to create a Banking offering on par with our existing products."
See here for the original press release.