Flow Traders

Flow Traders is governed by a one-tier Board comprising Non-Executive and Executive Board members, supported by a broader Global Executive Committee.

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Our Board

Mike Kuehnel

Chief Executive Officer, Executive Director and Executive Committee member

Mike Kuehnel (1977, German) was appointed Chief Executive Officer (CEO) in February 2023, he serves as Executive Director on the Flow Traders Board as well as member of the Executive Committee. As CEO, Mike is responsible for driving the overall strategic and growth agenda of Flow Traders. Mike joined Flow Traders in August 2021 and was appointed as member of the Management Board and Chief Financial Officer in September 2021.

Mike has over 20 years of investment banking and strategy consulting experience in the global financial market infrastructure space. Immediately prior to joining Flow Traders, Mike served as a partner at Bain & Company leading the Investment Banking and Financial Markets Infrastructure practice for EMEA. Before that, he worked at Goldman Sachs, where he was responsible for advising on large-scale equity and M&A transactions in the European banking, insurance, asset management, private wealth and exchanges sectors.

Mike holds an MBA in Accounting and Finance from the University of Chicago. Prior to that, he obtained his Bachelor in Business Administration (BBA), majoring in Banking & Finance, from the Frankfurt School of Finance & Management.

Hermien Smeets-Flier

Chief Financial Officer, Executive Director and Executive Committee member

Hermien Smeets-Flier (1971, Dutch) was elected as Chief Financial Officer (CFO) and Executive Director on the Flow Traders Ltd. Board in September 2023. As CFO, Hermien is responsible for the firm’s finance and control functions and focuses on supporting the execution of Flow Traders’ strategic growth agenda. Hermien joined Flow Traders in July 2023 as Global Finance Director.

Hermien has over 20 years of experience leading and scaling finance, risk, control and operational functions across insurance and asset management firms. Prior to joining Flow Traders, Hermien served as Chief Financial and Risk Officer and member of the Management Board at Achmea Investment Management. Before that, she served as Chief Financial Officer at AEGIS London. Prior to joining AEGIS London, Hermien served as Chief Financial Officer at Amlin Underwriting Ltd. She started her career at KPMG, where she provided audit, financial, and M&A advisory services to listed companies.

Hermien is a chartered accountant registered in the Netherlands.

Owain Lloyd

Chief Technology Officer, Executive Director and Executive Committee Member

Owain Lloyd (1980, British) was elected as Chief Technology Officer (CTO) and Executive Director on the Flow Traders Ltd. Board in June 2024. In his role, Owain is responsible for the Flow Traders’ Technology function globally. He works alongside the CEO and CFO as a member of the Flow Traders Board as well as being a member of the firm’s global Executive Committee. Owain joined Flow Traders in May 2024 as Director of Technology.

Owain has worked in various leading financial firms, bringing over 20 years of experience in developing global technology functions. Prior to joining Flow Traders, he served as CTO and Partner at Numeus Research and was a Founding Partner at Mercury Trading from 2019 until 2022. Owain has also held prominent roles at J.P. Morgan as Chief Business Technologist, Global Head of Electronic Market Making from 2016 to 2019, and at Morgan Stanley as Executive Director and Global Head of Automated Market Making Technology from 2010 to 2016. Additionally, Owain worked at Citadel Investment Group in Options Market Making Technology from 2004 to 2010, and at Credit Suisse First Boston in Fixed Income Research from 2002 to 2004.

Owain Lloyd holds a Computer Science degree from the University of Cambridge.

Rudolf Ferscha

Independent Non-Executive Director and Chairman of the Board

Rudolf (1961, Austrian) serves as Non-Executive Director and Chairman of the Flow Traders Board. He is a member of the Remuneration & Appointment Committee, the Trading & Technology Committee, the Audit Committee and the Risk & Sustainability Committee. Rudolf was first appointed as a member of the Supervisory Board of Flow Traders in July 2015, re-appointed for a second term in 2018 and a third term in 2021. Rudolf was appointed Chairman of the Board in March 2021 and in 2023 he was re-elected for a fourth term to the Board as Chairman.

Originally a corporate finance and capital markets lawyer, he has over 25 years’ board-level experience at international financial institutions, including executive roles on the management boards of Goldman Sachs Bank in Frankfurt and of Deutsche Boerse AG. For more than a decade, he held direct oversight responsibility for FSA and BaFin regulated derivatives and securities trading businesses. Between 2000 and 2005, Rudolf served as CEO of Eurex and from 2003 to 2005 Rudolf was Chairman of the Management Board of the Frankfurt Stock Exchange.

Rudolf is currently a partner at Gledhow Capital Partners and Chairman of the Advisory Board at Mainberg Asset Management GmbH.

Paul Hilgers

Independent Non-Executive Director and Chair of the Risk & Sustainability Committee

Paul (1968, German) serves as Independent Non-Executive Director on the Flow Traders Board and Chair of the Risk & Sustainability Committee. He is also member of the Trading & Technology Committee. Paul was elected as Non-Executive Director in April 2023.

Paul has an extensive and proven track record within global financial markets, particularly within trading, clearing and market infrastructure. Paul previously served as CEO APAC and as Director Market Structure for Optiver and then became global CEO of Optiver from 2014 until 2017. Paul was a member of the Supervisory Board at EuroCCP, and Managing Director at Hilgers Consulting. Most recently Paul worked at Deutsche Boerse AG as Managing Director, heading the firm’s cash market business.

Linda Hovius

Independent Non-Executive Director and Chair of the Remuneration & Appointment Committee

Linda (1961, Dutch) serves as Independent Non-Executive Director on the Flow Traders Board and is Chair of the Remuneration & Appointment Committee. She is also member of the Risk & Sustainability Committee and the Trading & Technology Committee. Linda was appointed member of the Supervisory Board of Flow Traders in April 2021.

Linda has more than 30 years of experience in managing professional organizations, setting strategic direction and implementing change. In 2012, Linda founded Aberkyn – Change Leadership Partners, with its head office in the Netherlands, to serve top teams of multinationals in the transformation of their leadership and organizations.

She is currently a Supervisory Board member of Royal Flora Holland and of Triple Jump Impact Investment, and serves as an Advisory Board member of Vereniging Rembrandt and Karmijn Capital. She is Chair of the Board of the Koninklijke Hollandsche Maatschappij der Wetenschappen and is currently the owner of Hovius Consultancy, specializing in boardroom consultancy.

Delfin Rueda

Independent Non-Executive Director and Chair of the Audit Committee

Delfin (1964, Spanish) serves as Independent Non-Executive Director on the Flow Traders Board and Chair of the Audit Committee. He is also member of the Remuneration & Appointment Committee, the Risk & Sustainability Committee and the Trading & Technology Committee. Delfin was elected as Non-Executive Director in April 2023.

Delfin brings a wealth of experience in finance, strategy and financial markets. He previously served as the CFO and CRO and member of the Management Board at Atradius and held leadership positions at J.P. Morgan, UBS and Andersen Consulting. Delfin was also the CFO and Vice-Chair of the Executive Board and Management Board at NN Group as well as Chairman of the European Insurance CFO Forum.

Currently, Delfin is a member of the Supervisory Board of Adyen and Chair of its Audit and Risk Committee, as well as Non-Executive Director of Allfunds. He is also Venture Partner at Mundi Ventures.

Karen Frank

Independent Non-Executive Director

Karen (1968, American) serves as Independent Non-Executive Director on the Flow Traders Board. She is also member of the Audit Committee, the Risk & Sustainability Committee and the Trading & Technology Committee. Karen was elected as Non-Executive Director in April 2023.

Karen is an experienced investor, and executive and business leader in the financial services industry. Most recently, Karen was the Executive Managing Director and Global Head of Equities at Ontario Teachers Pension Plan where she Chaired the Investment Committee. She previously held leadership positions at Barclays plc, where Karen was appointed as CEO of Barclays Global Private Bank and member of the International Executive Committee, among others, and co-Head of Financial Sponsors, EMEA. Earlier in her career, Karen worked in the Private Equity industry, including for Goldman Sachs in their Merchant Bank and Financial Sponsors businesses. Karen is a Trustee of the British Heart Foundation, and Chair of the Dean's Council for Harvard Kennedy School of Government.

Jan van Kuijk

Vice-Chairman, Non-Executive Director and Chair of the Trading & Technology Committee

Jan (1966, Dutch) serves as Vice-Chairman and Non-Executive Director on the Flow Traders Board as well as Chair of the Trading & Technology Committee. He is also a member of the Audit Committee, the Risk & Sustainability Committee, and the Remuneration & Appointment Committee.

Jan is one of the co-founders of Flow Traders and served as its Co-CEO from its inception in 2004 until 2014. He was appointed Vice-Chairman of the Supervisory Board of Flow Traders N.V. in July 2015 and was reappointed on 26 April and 29 April 2022. Jan was re-elected as member of the Board and Non-Executive Director in June 2024.

Until 1996, Jan served as a partner at Optiver, a proprietary trading firm and was involved in setting up their first electronic trading activities at Deutsche Börse in 1993. He co-founded Newtrade Financial Group in 1997, which was an options market-making firm before being discontinued, after which he co-founded Flow Traders.

Our Global Executive Committee

Aaron Dimitri

Global Head of Compliance

Aaron joined Flow Traders as a Compliance Officer in May 2017, later becoming the Head of Compliance for the Americas. He was also appointed as General Counsel Americas in March 2022 and oversees the firm’s compliance in accordance with U.S. securities laws. In May 2022, Aaron was promoted to Global Head of Compliance.

Aaron is a Certified Regulatory and Compliance Professional (CRCP) from the FINRA Institute at Wharton. Before joining Flow Traders, he held management roles at the Financial Industry Regulatory Authority (FINRA) from 2010 to 2017, focusing on market manipulation surveillance and regulatory control investigations.

Aaron holds a bachelor’s degree and MBA in International Business from St. Bonaventure University, a Juris Doctor from Albany Law School, and has been a licensed attorney in New York since 2011.

Cam Colella

Global Head of Technology

Cam Colella joined Flow Traders in 2015 initially as a Trader, spending a year in Amsterdam before moving to the New York office in 2016. Cam became Head of Trading Performance in 2019 and Head of Technology AMER in 2020 overseeing the technology function in the US and is responsible for driving technology strategy, innovation, and architecture globally. In 2024 he became Global Head of Technology.
Cam holds a bachelor’s degree in Economics and Pure Mathematics from the University of Michigan.

Marc Jansen

Global Head of Trading

Marc joined Flow Traders as a Trader in 2013. He initially focused on commodity products and in 2016 expanded his scope to include FX. Marc was promoted to Head of Trading for EMEA in 2018. Marc also spent 1.5 years in New York to strengthen Equity Index trading, during which time he was also co-head of the AMER region. In 2021, Marc relocated to Amsterdam and became Head of Trading with a focus on Digital Assets. Marc was appointed Global Head of Trading at the start of 2024.

Marc holds a double master’s degree in Econometrics and Management Science specialized in Quantitative Finance and a master’s degree in Economics and Business specialized in Entrepreneurship & Strategy Economics both from the Erasmus University Rotterdam.

Philip Kaufmann

Global Head of HRM & Recruitment

Philip joined Flow Traders in 2022 as the Global Head of HRM & Recruitment. He is responsible for the global HRM & Recruitment strategy and associated implementations. Prior to joining Flow Traders, Philip worked as a strategy consultant at McKinsey & Company and in various roles at bol.com, a Dutch ecommerce platform.

Philip holds a master’s degree in Hydraulic Engineering from the TU Delft and an MBA from INSEAD.

Alex Kieft

Global Head of Trading

Alex joined Flow Traders as a Trader in 2014, with a focus on trading delta one Equity Index products (ETFs, futures & derivatives), before being promoted to Head of Trading for EMEA in 2019 and then to Global Head of Trading in 2022. Alex is responsible for the development and execution of the equities trading strategy globally and oversees the daily trading operations and processes in Europe.

Alex holds a master's degree in Theoretical Physics from the University of Amsterdam.

Quinten Koekenbier

Global Head of Technology

Quinten joined Flow Traders in November 2009. After three years Quinten was promoted to technical lead of the R&D desk and subsequently became product owner for proprietary algorithmic trading applications. In 2016 he also became responsible for the speed, networking & infrastructure and the FPGA teams before being promoted to Head of Trading Performance and is responsible for performance, monitoring, R&D and analysis of trading performance in 2018. Quinten became Global Head of Technology in 2024.

Quinten holds a master's degree in Finance and Business Administration from VU University Amsterdam.

Tamara Maris-Mravunac

Global Head of Risk

Tamara joined Flow Traders in 2023 as Global Head of Risk. In this role she is responsible for Flow Traders’ global risk control function as well as the Risk, Legal and Compliance functions in EMEA. In her previous role, as Head of Financial Markets & Business Services Netherlands at ING, she was responsible for the non-financial risk controls, governance and conduct, and regulatory control across the Netherlands. She helped with the regulatory implementation of MiFID II as the head of Business Services and has an extensive trading background.

Tamara holds a master’s degree in Dutch law from the University of Amsterdam.

Matt O'Neill

Global Head of Business Development

Matt joined Flow Traders in December 2022 as Global Head of Corporate Strategy and is responsible for the firm’s strategic growth, partnerships, prime brokerage and bank strategy, M&A activities, and our venture capital unit, Flow Traders Strategic Capital. In January 2024, Matt was promoted to Global Head of Business Development. In this expanded role, Matt is additionally responsible for Flow Traders' commercial agenda through the firm's institutional sales teams globally.

Prior to joining Flow Traders, Matt was a Managing Director at Goldman Sachs with a focus on Global Markets strategic partnerships and investments. He also worked for Morgan Stanley within the prime brokerage business in Asia.

Matt holds a bachelor’s degree from the University of Nottingham.

Fabian Rijlaarsdam

Managing Director APAC

Fabian joined Flow Traders in 2018 as Team Lead for the EMEA Exchanges team and subsequently became the Head of Business Development for the EMEA region. In 2020, he relocated to Hong Kong and was appointed Managing Director APAC. He is responsible for expanding APAC operations, developing the regional strategy and partnerships. Prior to joining Flow Traders, Fabian spent five years at Deutsche Boerse’s Eurex group, where he focused on market microstructure research, academic engagement, and trading system design.

Fabian holds a master’s degree in Finance from the University of Groningen.

Coen van Sevenhoven

Global Head of Trading

Coen joined Flow Traders as a Trader in 2010, and relocated to Singapore. Whilst in Singapore, Coen supported the development of strategies covering equity ETFs, commodity ETPs and structured products in the APAC region. In 2017, Coen relocated to the U.S. and was promoted to Head of Trading and Managing Director AMER. He was appointed Head of Trading Strategy in 2019 and works closely with the Management Board and is responsible for strengthening the trading business as well as new strategic initiatives to expand Flow Traders’ footprint. Coen was appointed Global Head of Trading at the start of 2024.

Coen holds a master’s degree in Finance from the Erasmus University Rotterdam.

Bill Stush

CEO Americas

Bill joined Flow Traders in 2016 as Head of Sales to open Flow Traders' Institutional Trading broker dealer. In this role he focused on building the U.S. Institutional Trading Business, managing all the counterparty facing relationships. In July 2023, Bill was promoted to CEO Americas where he is responsible for the external relationship management, development of growth initiatives alongside the leadership team in the U.S. and for the day-to-day operations of the U.S. offices. Bill also represents the Americas region in Flow Traders’ global Executive Committee.

Prior to joining Flow Traders, Bill was a Managing Director at Bank of America Merrill Lynch from 2005 to 2015, where he held several roles including Head of ETF Distribution and Head of Portfolio Trading for the Americas. Before joining Bank of America Merrill Lynch, Bill was a Director at Deutsche Bank where he was Head of Transition Management for the Americas.