Parsippany: On Monday John Fay was inveiled as the new ceo of INTTRA, the world’s largest multi-carrier e-commerce network for ocean shipping. Fay replaces Ken Bloom who stepped down earlier this year.
Fay worked most recently with Newedge Group, a multi-asset brokerage and clearing services.
“With over two decades of experience in financial technology, electronic transaction processing and global financial exchanges—where he created new business value through easy access to global information—John brings the right combination of expertise, strategic vision and collaborative leadership to INTTRA,” commented Jeff Ganek, INTTRA board chairman, on the appointment.
“INTTRA plays an important role in supporting global trade by connecting carriers, freight forwarders, and shippers and enabling the transactions between them,” Fay says. “My goal as the ceo will be to build upon these strengths, identify unmet market needs, and to lead the company to deliver innovative solutions that deliver increasing value to our customers.”
Fay says his background in financial electronic services–and the transformation that the financial industry has undergone–is “highly analogous” to what INTTRA is working to achieve with its customers.
The financial services business has gone from one characterised by labour intensive and manual process-oriented work to one that uses technology to support highly-efficient markets, he explains.
“I see the potential for the shipping industry to become considerably more efficient,” he says. The opportunity is not only in making customers more efficient internally, he reckons, but also by connecting customers and other parties in the industry with each other, allowing them to communicate and transact in better ways, despite having differing levels of technological capabilities. [24/07/14]