Meet Pico CEO Jarrod Yuster: Growing Through Innovation, Strategic Acquisitions

An old Japanese proverb says, "Katte Kabuto no o wo shime yo," meaning “After the victory, tighten your helmet.”

Jarrod Yuster, the founder and CEO of Pico, follows this advice.

"You can never get complacent," he said in an exclusive interview for Benzinga after Pico made another acquisition, expanding its already growing business.

At upcoming Benzinga’s Fintech Deal Day event in New York City on Nov.13, this Yale and Columbia alumnus will share his views in a discussion titled, "Unleashing the Potential of Full Technology Ecosystems."

About the Pico CEO

Yuster is a Wall Street veteran with more than 20 years of experience in institutional trading. Interestingly, he started his career as a product engineer, performing semiconductor research at Intel Corporation.

After venturing into finance, he became the global head of Merrill Lynch’s Electronic Trading division. He built that division from the ground up, overseeing sales, trading, risk, execution and product development before leaving to start Pico in 2009.

Initially, he envisioned the company as a broker-dealer providing technology-driven solutions before finding their niche.

"We realized that the technology business was the real business, and eventually, we pivoted," he said, explaining that the firm's cloud-driven technology, connectivity and data were their edge.

Pico now works with more than 430 clients, including banks, exchanges, asset managers and quant-driven hedge funds. With almost 500 employees across 19 offices, the firm is becoming an essential component of the global financial infrastructure.

Also Read: What Warren Buffett Says You Should Buy Right Now After Berkshire Hathaway Meeting.

Yuster singled out important trends that give tailwinds to Pico's expansion. These include continued electrification of markets, global borderless trading, growth in trading volume and data rates, modernization of IT systems and finally, M&A opportunities.

Last year, Pico signed an agreement with a private equity investment firm, Golden Gate Capital. A deal worth $200 million would help Pico enter the next phase of M&A expansion.

"We have made significant investments in global expansion, product innovation, operational excellence, and in our organization, thereby laying the foundation to support the next wave of substantial growth," Yuster said in a press release.

True to his words, he didn't rest on his laurels.

Since then, the company has cleared several milestones: partnering up with BSO Partner to expand global crypto offerings, launching Pico Performance Lab to replicate real-world trading environment for product stress-testing, expanding into the Middle East and offering enhanced capabilities through Amazon Web Services (AWS).

Benzinga's Fintech Deal Day & Awards event will enlighten highlights of the current digital asset space. Join Benzinga’s Future of Digital Assets in New York City on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions and institutional adoption in the crypto space. Secure early bird discounted tickets now!

Photo: Jarrod Yuster/Pico