NEW YORK, August 2, 2016 -- Hanweck, a leading provider of real-time risk analytics on global derivatives markets, announced today that it has appointed Peter F. Armstrong as Chairman of the Board of Directors. Mr. Armstrong, who joined the Board of Hanweck in November 2015, co-founded Triple Point Technology in 1993 and served as Triple Point's CEO until its sale to the ION Group in 2013.
Commenting on his appointment, Mr. Armstrong said, "Jerry Hanweck and his team have built an incredibly dynamic and interesting company by leveraging a powerful combination of financial engineering domain expertise and an innovative technology platform. As a result, Hanweck is uniquely positioned to service the large-scale risk analytics needs of financial institutions around the globe. As Chairman of the Board, I'm looking forward to helping the team seize the opportunities it has created to progress into the company's next stages of growth."
"Peter brings unparalleled experience in building successful companies from the ground up," said Gerald A. Hanweck, Jr., founder and CEO of Hanweck. "We are at an exciting point in our evolution as a company as we expand our customer base and our global footprint. Peter's deeper involvement at this stage will advance our mission as the premier provider of real-time risk analytics."
Under Mr. Armstrong's leadership, Triple Point launched a full suite of industry-leading and award-winning enterprise software products and evolved into a global organization supporting the demanding needs of energy and commodity market participants in a wide range of industries. Independent validation of his leadership success included Triple Point being named a "Leader" in Gartner's Magic Quadrant for Energy Trading and Risk Management in every year the study was published.
Prior to founding Triple Point, Peter was an engineer at Bell Laboratories and held software development/management positions at J. Aron and Phibro, the energy and commodities trading divisions of Goldman Sachs and Salomon Inc., respectively. In addition to serving as a director of Hanweck, Mr. Armstrong sits on the board of directors/advisors of Mediant Communications, Eka Software Solutions, etouches, Qliktag Software, and Trendalytics Innovations Labs. Mr. Armstrong also serves as a Special Limited Partner of Argentum Capital Partners III, L.P., one of Hanweck's institutional investors.