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| Illustration: Andrew Archer |
In 2002, one of the first multi-bank trading platforms in the foreign exchange market went bust. Despite being backed by FX powerhouses including Citi, Deutsche Bank and JPMorgan Chase, Atriax had run out of money and ceased trading after little more than two years, leaving the path wide open for rival FXall to capture the young multi-bank trading business.
For several months after its demise, it was David Hudson’s job to sell the platform’s equipment and assist in the shut-down of its London operations. For the young South African programmer, it was a sobering and eye-opening experience as successive vendors came into the building and were astonished at how a startup could have burnt through so much capital in such a short space of time.
Fifteen years on, Hudson has ascended the ranks of JPMorgan, where he is now responsible for testing new technologies and innovations in its huge markets business. With a multimillion dollar budget that many of his peers might reasonably envy, Hudson’s mandate is to bring a culture of innovation to the investment bank and ensure it remains relevant to its clients, never afraid to try out new ideas and invest money where needed.