Alveo & Gresham merge to form data automation powerhouse

Alveo, backed by its majority owner STG, has announced the completion of its merger with Gresham Technologies. This merger aims to create a prominent provider of data automation and optimisation for mission-critical data, post-trade processes, and external reporting.

Gresham Technologies has a strong presence in transaction control, reconciliations, data aggregation, connectivity solutions, and regulatory reporting. Alveo, on the other hand, is recognised for its expertise in enterprise data management, particularly for market, reference, and Environmental, Social and Governance (ESG) data. The integration of these capabilities aims to form a comprehensive suite of data automation solutions, addressing the needs of processes that require high-quality and trusted data within business workflows.

The newly formed entity will operate under the name Gresham and will be headquartered in London, with significant operations in North America. Ian Manocha, formerly the CEO of Gresham Technologies, will lead the combined business as CEO. Mark Hepsworth, previously the CEO of Alveo, will serve as the Chair of the board.

Ian Manocha expressed his enthusiasm for the merger, stating, “The combination of the two firms accelerates our journey to bring digital integrity, agility, operational efficiency and data confidence to financial markets globally. It creates a comprehensive set of solutions for data automation, operational efficiency, data management, analytics and risk mitigation for financial and corporate clients globally.”

Mark Hepsworth echoed this sentiment, highlighting the merger’s potential client benefits. “Improving data management efficiency is a major requirement for clients who need to process increasing volumes of data. We can now offer clients greater scale and a wider range of solutions that will simplify their operations and enable them to manage data more effectively. I am delighted to be working with Ian and our new team and to enable clients to benefit from this exciting new combination,” he commented.

The merged business's clients are expected to gain access to an expansive range of data automation and process integration solutions designed to simplify operating models and lower the total cost of ownership. The combination aims to leverage the respective strengths of both firms to deliver solutions that improve data management efficiency amid escalating data volumes. This efficiency is particularly critical for financial markets that rely on high-quality and trusted data to streamline their operations.

The merger seeks to address the growing demand for integrated and efficient data management solutions within financial institutions. By combining Alveo's market data management software with Gresham’s transaction control and data aggregation capabilities, the companies aim to provide robust technologies to drive operational excellence and regulatory compliance for clients worldwide.