Refinitiv’s Rishi Nangalia Departs

A market veteran and gentleman has gone gently into that goodnight.

Rishi Nangalia has departed his position as Global Head of BuySide Trading at Refinitiv and moved on, according to a letter sent to friends and colleagues on Friday and read to Traders Magazine.

“As I close the chapter on a nearly 19-year career at REDI (& its many incarnations), it’s hard not to write an ode to what’s been my identity intertwining and defining my personal and professional life. But I will simply say – it’s been one heck of a ride and the best foundation for the next journey. For those curious about what’s next, get introduced to the folks carrying the torch forward or indulge in some banter, feel free to reach out. For those who have adorably confused my name with that of the eponymous platform, that confusion is also coming to an end.” [IMGCAP(1)]

Greg Tusar, a colleague of Nangalia’s at Goldman Sachs Electronic Trading where Nangalia took ownership of the firmm’s REDI EMS told Traders Magazine in a email exchange that he was “proud to call Rishi a friend and colleague. His combination of industry experience, entrepreneurial drive, passion, energy and leadership are rare in one person, and he has them all in abundance.”

Nangalia spent 12 years at Goldman Sachs, most recently as Head of Product & Business Development where he led the strategy, business development and product management team for the electronic trading businesses there. He assisted in launching the firm’s DMA, Algos, smart routing, dark pools (SIGMA X) and a host of market leading and market changing innovations for over a decade.

REDI was later spun of into its own firm in July 2013 where he served as CEO. REDI was owned by 6 industry institutions, before getting acquired by Thomson Reuters, as a strategic acquisition in January 2017. Nangalia joined TR as part of the strategic acquisition of REDI.

In October 2018, the Financial and Risk business of Thomson Reuters (REDI)  was rebranded into Refinitiv.

According to his LinkedIn, Nangalia has listed himself as an Advisor and Investor.