60 Seconds with Agio CEO Bart McDonough
What does your company do? Agio Technology provides technology infrastructure and application management services to hedge funds, private equity funds and other asset managers. We support technologies that allow our clients to focus on their core businesses.
What does your job entail? Setting the strategy and vision for my company and making sure our technology, people and processes align with our number one goal: Be the best in the industry.
How has regulation affected business? We have seen an increase in demand for messaging and data compliance as the industry determines how it will approach the upcoming regulations. The challenge is: Do they do it in-house or do they outsource it? If they do it in-house, how do they keep current with the regulations and make sure they are protected from every angle? Additionally, there’s a real need to consider data storage and search response time capability, which requires immediate and full scalability. As the regulations come down, the hedge funds most likely will grow and change as they are implemented. Funds are wondering how to best prepare for these changes in advance. It’s a big and ominous change and everyone wants to do it right.
What trends are you seeing? Focus—a renewed effort by IT departments to focus on the critical areas of their businesses, not just technology initiatives.
Who is the most influential person in your business life? Why? My father. He doesn’t get into the technical details of what we do, but over the course of my life, he has taught me the right values you need in life and in business. He has run his own business for 20-plus years and has maintained a calm, level-headed approach during good and rough economic times.
What is your favorite part of your job? Managing and grooming talented individuals who are looking to grow their careers, whether that means becoming more technical or moving up to management. I love working with superstars who want to grow.
What do you do to unwind? Ride my bike—cycling for one to two hours is the best way I unwind.