VAKT announces Independent Chairman of the Board
Tuesday, November 2, 2021
VAKT Holdings Ltd (“VAKT”), the provider of a digital platform for commodity post trade services, today announces the appointment of Martin Fraenkel as the new Independent Chairman of the Board, with immediate effect.
Fraenkel served as President of S&P Global Platts and as a member of S&P Global Inc.’s Operating Committee from 2016 to 2021. He oversaw the digitalisation of the division, introducing technology solutions based on blockchain, automation and machine learning and led the business through a period of strong growth.
Prior to S&P Global, Fraenkel held various leadership positions in the commodity exchanges and trading industry, including Global Head of Energy at CME Group (2013- 2015) and Global Head of Commodities at Credit Agricole (2007- 2011), as well as senior positions at JPMorgan, Dresdner Kleinwort and NM Rothschild. Martin started his career as a metals trader for Philipp Brothers. He holds a BA from the University of Oxford, an MA from The Johns Hopkins University and an MBA from INSEAD in Fontainebleau.
In his new role, Fraenkel will focus on adapting the governance of the company to its new phase of scaling, supporting the market presence of VAKT with a wide range of participants and advising the executive team on strategic initiatives, including potential new investments and markets.
“I am delighted to work with this exceptional group of shareholders and directors to help steer the next phase of this pioneering company. With a strong management team in place and growth accelerating, I am confident that the next years are going to be exciting for VAKT”, said Martin Fraenkel.
Etienne Amic, VAKT CEO, commented: “As an executive team, we are very pleased with the progress of the platform since its inception: VAKT is growing strongly in North-West Europe (NWE) and is in the process of scaling up globally for trade confirmations. Scaling brings new challenges, and it is a good time to bring VAKT, the company, to the next level of maturity. I could not be more excited with the appointment of Martin as Chair. He has a wealth of experience in digital market infrastructure, data services, and commodity trading, which is going to be very valuable to VAKT. I have known Martin for many years, and I am very much looking forward to a close partnership to elevate VAKT to its full potential.”
VAKT in brief
VAKT is a post trade processing platform for physical commodities. It is the digital backbone of the business-critical communications between traders, terminals, inspection companies and trade finance banks.
VAKT supports the post trade activities of global traders, refiners, NOC’s and their banking partners. The company mission is to help our customers to enhance the value of their trades by reducing the friction around transactions, including the transfer of title, and bring the entire industry into the platform age.