Citi Global Markets has opened a global financial data intelligence lab in Israel, as part of Citi’s Technology Innovation Center. The financial data intelligence lab will be one of the main focus areas of the Innovation Center in 2013 and is expected to grow considerably. The decision to open the lab in Israel was based on Israel's potential talent and activities in data.
The lab currently manages several of the most advanced projects in capital markets, combining technological challenges in data science big data, and related fields. Specifically, the lab leads projects of complex processing in large real time data.
Citi hired Dr. Oren Glickman to head the lab’s research team. The research team will hire local talent with academic skills and expertise in related fields such as machine learning and data mining.
Citi Technology Innovation Center in Israel head Lyron Wahrmann said, “Today’s rapidly changing business environment and technological trends force financial institutions to be innovative. This new financial data intelligence lab will allow Citi to leverage existing capabilities, develop new business opportunities and lower business costs."
Citi FX and Local Markets global head Anil Prasad said, “Big Data analysis is set to become an ever more critical element in our business. Our job is to analyze the world, capture as much flow as we can and use that both to advise our clients on what we think markets will do in the future and provide them with the liquidity to execute. Giving client’s advice on the market and what it’s going to do and providing them the ability to hedge or invest makes our clients happier and makes our business better. That, I believe, is what big data analysis has the capacity to do. For this reason, one of the hottest areas in terms of hiring in our business right now is data scientists."
Published by Globes [online], Israel business news - www.globes-online.com - on April 3, 2013
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