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NYSE COO: How to find the right people for the right job

T.C. Seow | Feb. 1, 2012
How does one continue to invest while keeping one’s eyes focused on bringing about greater efficiencies? Peter Tierney, Chief Operating Officer, Asia Pacific, of NYSE Technologies, shares some insights and plans his organisation has on facing the challenges confronting the stock exchange in today’s highly competitive business environments.

As a global technology leader at NYSE, how are you encouraging an innovation culture within the organisation?

NYSE Technologies itself was built through a number of acquisitions over the past few years. Our 'sweet spot' has been dynamic, innovative startups that offered products that complemented NYSE Euronext's traditional exchange business by helping customers connect to more markets, process more market data and trade more effectively with industry-leading speed and reliability.

The organisation is comprised of people from those acquisitions that are innovative thinkers and programmers by nature. In a sense, innovation is in the DNA of the company and a natural result of what NYSE Euronext has carefully built.

In order to maintain this level of innovation, however, I believe we need to continue to do the following well.

One is to create an environment where there is no fear of failure and calculated risk-taking with new ideas and processes is encouraged.

Next is to give people time to develop ideas and the mentorship from inside and outside the organisation to help ideas mature.

Third is to provide a strong business strategy and a framework for how that will be achieved.

To accomplish all that you have in NYSE, how much of your organisation's culture did you need to change?

NYSE Technologies is a new direction for a market operator with more than 200 years of experience and investor trust. For us, the past five years have been more about culture creation rather than culture change. We have created an innovative technology services company that sits beside the traditional markets business also operated by NYSE Euronext. We are proud to support customers that trade on those exchanges and any others around the world with our completely unique blend of products that help shape the global marketplace and play a role in the evolution of trading throughout the world.

Do you have the right people with the right skills?

I am very confident we have an excellent global team with the right mix of experience and ingenuity to serve our customers for the foreseeable future.  We are making great strides in achieving our vision of creating a global platform for liquidity access and related services. Having said that, this is a question we need to address and readdress on a daily basis. Businesses change, opportunities appear and technology evolves - we have to constantly challenge ourselves and our team to make sure we have right people in the right jobs with the right resources - at the right time. We are fully committed to this business and our depth of products and global investments make that very clear to our customers and the broader marketplace.

 

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