Croxon leaves Bloomberg after Mifid II implementation

Derivatives expert Mark Croxon has left Bloomberg after two-and-a-half years as the data and tech firm’s head of product strategy in charge of Mifid II implementation.

Croxon, who joined Bloomberg from Nomura, left Bloomberg at the end of April, according to sources.

He was the firm’s London-based head of product market structure strategy with a focus on preparing Bloomberg and its clients for the implementation of the European Mifid II reforms at the start of January this year.

A spokeswoman for Bloomberg declined to comment on the move.

Croxon joined Bloomberg in September 2015 from Nomura where he worked for nearly five years, latterly as executive director and global product head of derivatives clearing.

Before the Japanese bank, Croxon worked at HSBC in equity financing and prime brokerage, in prime services at Barclays Capital and Dresdner Kleinwort, and held various derivatives trading and operations roles at JP Morgan, where he worked for more than a decade.

Croxon has expertise in derivatives clearing, prime services, regulation and technology from his time in banking and at Bloomberg where he worked across the firm’s many technology and data products.

He is said by sources to be looking at various opportunities such as using his vast banking expertise to help growing financial technology companies.

Financial technology start-ups are increasingly attracting derivatives experts who previously worked at banks or exchanges.

Lee McCormack, a former colleague of Croxon’s at Nomura, left the Japanese bank in 2015 to join collateral tech firm CloudMargin and then moved to Eslo Consultancy in February this year.

Bill Templer, formerly a managing director at Morgan Stanley and UBS, founded in June last year Seismic Foundry, a financial technology investment firm.

Templer’s co-founders are Cathryn Lyall, formerly with Deutsche Bank, CME Group and Icap, Brendan Bradley, previously with Eurex, David Feltes, formerly of CME, and Jeff Gale, who worked at LSE Group and Icap.

Seismic said in April its next funding cycle will focus on investments that help firms optimise their compliance requirements.

Former Ffastfill chairman Keith Todd floated in late April his new risk management investment vehicle, KRM22, on London’s junior AIM market raising £10.3m.

Headed by executive chairman and chief executive officer Todd, London-based KRM22 said it will invest in technology businesses across the risk management spectrum.