IT specialist Julian Croxall, a former Merrill Lynch VP, has launched a consultancy firm to provide hedge and private equity funds with senior level technology management.
Croxall says his Cambridge CTO has been launched in response to growing demand for tech executives with a “360-degree understanding” of the value of proper technology controls and processes.
“If fund managers want to attract institutional assets, they must meet institutional standards of technology governance. Today, institutional investors care as much as about technology controls as financial ones,” says Croxall. The 18-year IT veteran says many hedge funds and private equity fund managers spun off from proprietary trading desks are unaware of the array of technological services that these large financial institutions had been providing.
For instance, Croxall says it is vital that fund managers be able to demonstrate who has access to a fund’s proprietary algorithms or other intellectual property, what procedures are in place in case of an energy blackout and who oversees the numerous vendors supplying the investment firm with computer services.
Cambridge CTO says it can assist hedge funds and private equity funds with their technical infrastructure needs at a much lower cost than an in-house CTO. The firm uses a proprietary system to provide four levels of service, from the basic ‘Program Manager’ to the most comprehensive ‘Fractional CTO.'
In addition to his five years as Merrill Lynch VP, Croxall served as VP at Morgan Stanley and, before forming his own company, as a director at Richard Fleischman & Associates, a technology services firm based in New York.