Duco, the global provider of enterprise data quality and reconciliation services, today announced that former HSBC and Merrill Lynch veteran Spencer Lake has joined the board of directors as a nonexecutive director.
The company has also significantly bolstered its senior management team with the appointments of Danielle Price as Head of Finance and Operations, Peyton Kay as Vice President of Strategic Marketing, and Scott Glazer as Head of Sales, North America.
Prior to joining Duco, Lake spent 10 years at HSBC where he served as a Group General Manager, Vice Chairman of Global Banking and Markets, Co-head of Global Markets, and Global Head of Capital Financing. Previously he spent 17 years at Merrill Lynch in senior roles spanning investment banking, debt capital markets, and real estate finance. Lake is currently an advisor and board member to several technology firms challenging the status quo, including Fenergo, nCino, Nivaura, Inforalgo and Callsign.
“Duco offers a disruptive take on the data quality and reconciliation industry which is in drastic need of an overhaul,” Lake commented. “Manual processes and legacy technology still dominate this space, mainly due to a lack of data standards. Duco’s data-agnostic, augmented machine learning-enabled technology, and commitment to innovation, means the company is uniquely placed to enable financial institutions to fully digitise and automate these processes. I am delighted to be joining Duco at this exciting time, and look forward to helping the company deliver its vision.”
Christian Nentwich, CEO of Duco, said: “I am very pleased to welcome Spencer to Duco. He is a true innovator at heart. His expert industry knowledge and deep ties to the global banking industry will be great assets as we continue our hyper-growth, rapidly expanding our offering while adding new clients to our roster. I am also very happy to announce our latest round of senior management hires, who collectively bring an impressive growth track record delivering enterprise solutions to financial services firms. We are excited to benefit from Danielle, Peyton and Scott’s expertise as we embark on our next phase of growth to transform the way financial institutions collect, manage and use their data.”
Headquartered in London, with offices in New York, Luxembourg, Edinburgh, Wroclaw and Singapore, Duco’s customers include global banks, brokers, asset managers, exchanges and middle and back office outsourcers.