Ashworth to Serve as Caplin CEO

Former CEO and founder Paul Caplin will remain on Board as an executive chairman.

John Ashworth, Caplin Systems CEO

E-distribution firm Caplin Systems announced John Ashworth will immediately begin serving as company's CEO, taking over for founder Paul Caplin, who will stay on the board of directors as an executive chairman.

Ashworth has been with Caplin since February of 2014 as the chief operating officer. He's also served as CEO of Fenics Software, held a non-executive director position with Apama and was on the management team of FXall during its listing on NYSE and sale to Thomson Reuters.

"Well I've done it before, so I'm not intimidated by the office," Ashworth tells Sell-Side Technology. "I think the timing is really right."

Ashworth says that it will be business as usual for Caplin Systems as he takes over, with his only immediate focus on strengthening the quantity and quality of the customer-facing people within the company.

"We're particularly good at e-distribution; we're particularly good at single-data platforms," Ashworth says. "We're not going to make any dramatic lurches to the left or to the right."

One change that Ashworth says the company will look to make in the somewhat near future is broadening Caplin's offering. Currently, according to Ashworth, 60 percent of Caplin's business comes from foreign exchange. Customers have begun to request help with fixed income, among other asset classes.

"I suppose it's fair to say that our customers have chosen us in the first place because we have a cross-asset class capability," Ashworth says. "I see us stretching out and doing a little more in the other asset classes in the immediate term."

Ashworth adds that the current regulatory state has led banks to have to clamp down on how much they can spend on internal IT projects. As a result, they're looking to outsource time consuming and costly projects throughout the firm, which should create new opportunities for Caplin.

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