Openmarkets appoints David Jenkins to lead DeFi push
Openmarkets has appointed David Jenkins as Chief Product and Technology Officer, overseeing the group's product and technology operations.
He will lead product, engineering, data and technology as the fintech expands its decentralised finance offering through crypto trading and the tokenisation of real-world assets. The role also includes expanding products and services into international markets.
The appointment adds a senior executive with three decades of experience across fintech, capital markets and digital assets. Jenkins has held senior roles at Pepperstone Group, Liquidnet, Bloomberg, Thomson Reuters and Fidessa, with experience spanning Australia, Hong Kong, London and New York.
At Pepperstone Group, he was involved in initiating a global crypto exchange solution. He also served as Fractional Chief Technology Officer and Product Lead at ImpactX Markets, a company backed by the Digital Finance Cooperative Research Centre.
DeFi focus
The hire comes as Openmarkets looks to connect its existing trading and wealth management systems with decentralised finance products. Crypto trading and real-world asset tokenisation are central to that strategy.
Chief Executive Officer Dan Jowett said the appointment was an important step in that effort.
"We're pleased to welcome David at a pivotal time for Openmarkets as we execute on our DeFi strategy and capitalise on growing demand for products that bridge decentralised and traditional finance. David has a track record of execution having built and scaled financial technology platforms at the highest level," said Jowett.
Jenkins said he was looking forward to leading the technology and product function.
"I'm delighted to join Openmarkets at a truly exciting time for the business. I'm looking forward to leading the technology and product function and helping the group deliver on its ambition to bridge the established wealth and trading infrastructure that the industry relies on and the decentralised finance products that are reshaping it," said Jenkins.
Growth period
The appointment comes amid broader client growth for the business. Earlier this month, Openmarkets was selected by BW Equities to provide a tailored wealth and trading technology system under a multi-year agreement.
The arrangement includes wealth management software as a service, along with trading and execution tools for domestic and international equities. The execution component has already gone live.
Founded in 2011 and based in Melbourne, BW Equities advises corporate clients in the natural resources, industrial and technology sectors. The firm also handles capital raisings, initial public offerings and listed company transactions, while providing in-house research and sales and trading services to professional and institutional investors.
Openmarkets operates from Sydney, with additional offices in Melbourne and Brisbane, and has been building its presence in Asia and the United States. Its services include trade execution, clearing and settlement, options risk management, and equity order management tools for clients ranging from financial technology providers and dealer groups to private wealth advisers, stockbrokers and high-volume traders.
The company is also pursuing a merger and business combination with special purpose acquisition company Lake Superior Acquisition Corp. If completed, the deal would result in the combined Openmarkets Group listing on Nasdaq.
Jenkins joins with responsibility for both product development and the underlying technology estate, as Openmarkets works to extend its established trading and wealth management business into digital asset markets and tokenised financial products.