Co-Founders

Substantive Research would like to thank the following people and their firms for their support and their advice in this process as Co-Founders. They bear no responsibility for any errors or omissions in this document, but we are grateful for their expertise and their support in bringing this project about. Like us, they are focused on providing the infrastructure that the future investment research market will require in whatever form this market may evolve.

Tom Conigliaro,
Managing Director – IHS Markit

Mr. Tom Conigliaro is Managing Director of Markit Brokerage and Research Services.As head of Brokerage and Research Services group, Mr. Conigliaro has responsibility for IHS Markit’s Commission Manager, Vote, Calendar and HUB offerings. He is regularly cited in the press on regulatory developments around research evaluation and payment. Prior to joining Markit in 2013, Mr. Conigliaro worked at investment banking boutique Marlin & Associates where he advised clients on their M&A activities in financial technology, information services, healthcare and media. He has over 25 years’ experience on Wall Street, holding senior roles in sales and trading, sales management and securities services at Goldman Sachs and Merrill Lynch. Mr. Conigliaro holds an MBA from the University of South Florida and a BS from Widener University. He also holds the CFA designation.


Mark Sandeford,
Director – WeConvene Extel
Mark joined WeConvene in April 2015 and is Global Head of Sales. He has extensive finance industry experience, working on both sell & buy side, covering rolls within trading, sales trading, sales & portfolio management. Most recently, Mark worked in Hong Kong heading up the Asian Execution team for Barclays & was Chairman of Barclays Taipei. He also worked at CQS as a senior trader and managed money within three of their funds.

Indy Sarker is CEO of ANALEC – a leading financial technology company in the investment research and CRM space for capital markets. Indy is an ex Institutional Investor (II) ranked analyst, prior to co-founding ANALEC in 2003.
Indy brings a deep understanding of the investment research process and client servicing challenges and has over the years clearly demonstrated to various banks and brokers on how technology can be harnessed to achieve the twin objectives of lowering the cost of the research business model and delivering greater value and a richer client servicing experience.
Indy splits his time between New York, London and New Delhi. He holds a MA in Economics from the University of Cambridge (UK).

Patrick Gill,
Executive Director – Instinet Europe Limited
Patrick Gill joined Instinet in 2013, as the Head of Commission Management for the EMEA region. Prior to this Patrick was responsible for the Global Commission Management business at Nomura International, and has been working within the Commission Management business for over 13 years. Through Client engagement, and dialogue with international regulatory bodies, Patrick is responsible for managing Instinet’s CSA and RPA administration services.”