Tower Research Capital Executive and Leadership Team

September, 2026

Leadership Overview

Tower Research Capital has 5 executives leading key functions including financial oversight, internal trading operations, deputy trading management, regional operational scaling, and corporate strategy.

Driven by a commitment to quantitative precision, Tower Research Capital maintains a rigorous focus on developing sophisticated algorithmic trading models while ensuring robust risk management across global financial markets.

Leadership Roles at Tower Research Capital

  • Chief Financial Officer - Richard Colpron
  • Chief Operating Officer, Internal Trading Team - Dan Llamas
  • Deputy Chief Operating Officer, Internal Trading Team - Thomas Barguirdjian
  • Chief Operating Officer, Moore (North) - Mano Kurien
  • President - Cleo Patra
  • Richard Colpron - Chief Financial Officer

    Richard Colpron, the Chief Financial Officer at Tower Research Capital, manages the entire fiscal architecture of the firm. Overseeing capital allocation and liquidity management, the Chief Financial Officer ensures the firm maintains optimal financial health to support high-frequency trading activities. This role involves constant collaboration with the Board to refine investment strategies and monitor market exposure. By implementing advanced accounting controls, Richard Colpron secures the integrity of all quantitative trading data. The Chief Financial Officer also directs the firm's tax planning and regulatory reporting across international jurisdictions. Through meticulous oversight of balance sheets and cash flow, Colpron mitigates financial risk while maximizing operational efficiency. This leadership position remains vital for sustaining the long-term growth of the firm within the competitive landscape of computerized trading, ensuring that every financial decision aligns with the overarching mission of quantitative excellence and market stability.

    Dan Llamas - Chief Operating Officer, Internal Trading Team

    Dan Llamas, the Chief Operating Officer, Internal Trading Team at Tower Research Capital, directs the daily execution of proprietary trading strategies. Overseeing the internal trading infrastructure, the Chief Operating Officer, Internal Trading Team ensures that algorithmic systems operate with maximum speed and reliability. This role requires constant coordination with quantitative researchers to refine execution logic and minimize latency. By optimizing the internal trading environment, Dan Llamas directly impacts the firm's ability to capture market opportunities across diverse asset classes. The Chief Operating Officer, Internal Trading Team also manages the technical resources required for high-volume data processing. Through rigorous performance monitoring, Llamas maintains the competitive edge of the firm's trading engines. This leadership function supports the broader goal of achieving superior risk-adjusted returns, ensuring that the internal trading team remains at the forefront of quantitative innovation while maintaining strict adherence to internal risk protocols.
    Dan Llamas

    Thomas Barguirdjian - Deputy Chief Operating Officer, Internal Trading Team

    Thomas Barguirdjian, the Deputy Chief Operating Officer, Internal Trading Team at Tower Research Capital, supports the operational scaling of proprietary trading systems. Overseeing the deployment of new trading algorithms, the Deputy Chief Operating Officer, Internal Trading Team ensures seamless integration with existing market connectivity. This role involves managing the technical workflows that allow the firm to adapt to changing market conditions. By streamlining the development lifecycle, Thomas Barguirdjian accelerates the time-to-market for new quantitative strategies. The Deputy Chief Operating Officer, Internal Trading Team also coordinates with engineering teams to enhance system resilience and fault tolerance. Through proactive management of trading infrastructure, Barguirdjian minimizes downtime and maximizes execution quality. This leadership role remains essential for maintaining the firm's operational agility, ensuring that the internal trading team possesses the necessary tools to execute complex investment strategies with precision and consistency across global financial markets.

    Mano Kurien - Chief Operating Officer, Moore (North)

    Mano Kurien, the Chief Operating Officer, Moore (North) at Tower Research Capital, directs operational initiatives across the northern regional markets. Overseeing the expansion of trading capabilities, the Chief Operating Officer, Moore (North) ensures that regional infrastructure aligns with the firm's global quantitative standards. This role involves managing local operational teams and ensuring compliance with regional regulatory requirements. By optimizing the performance of the Moore (North) division, Mano Kurien drives efficiency in high-frequency trading operations. The Chief Operating Officer, Moore (North) also collaborates with executive leadership to integrate regional insights into the firm's broader investment strategies. Through strategic resource management, Kurien enhances the firm's presence in key northern markets. This leadership position remains critical for scaling operations, ensuring that the firm maintains a consistent and high-performance trading environment while navigating the unique complexities of the northern financial landscape.

    Cleo Patra - President

    Cleo Patra, the President at Tower Research Capital, architects the overarching strategic vision for the firm. Overseeing the alignment of quantitative research with business development, the President ensures that the firm remains a leader in computerized trading. This role involves guiding the executive team to foster a culture of innovation and technical excellence. By setting long-term objectives, Cleo Patra drives the firm's expansion into new asset classes and global markets. The President also manages relationships with key stakeholders and ensures that the firm's investment strategies remain robust against market volatility. Through decisive leadership, Patra maintains the firm's competitive advantage in the quantitative finance sector. This executive function supports the integration of advanced technology with sound financial principles, ensuring that the firm continues to deliver consistent results while upholding the highest standards of operational integrity and market performance across all global trading activities.

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    Frequently Asked Questions Regarding Tower Research Capital Top Executives and Leadership Team

    Who leads Tower Research Capital?
    Tower Research Capital is led by Richard Colpron (Chief Financial Officer), along with executives such as Dan Llamas (Chief Operating Officer, Internal Trading Team) and Thomas Barguirdjian (Deputy Chief Operating Officer, Internal Trading Team).
    Who is part of Tower Research Capital’s executive team?
    The executive team of Tower Research Capital includes leaders such as Richard Colpron (Chief Financial Officer), Dan Llamas (Chief Operating Officer, Internal Trading Team), Thomas Barguirdjian (Deputy Chief Operating Officer, Internal Trading Team) and other senior executives.
    How many executives does Tower Research Capital have?
    Tower Research Capital has 5 executives leading key business areas.
    What roles are included in Tower Research Capital’s leadership team?
    The leadership team of Tower Research Capital includes roles such as Chief Financial Officer, Chief Operating Officer, Internal Trading Team, Deputy Chief Operating Officer, Internal Trading Team, Chief Operating Officer, Moore (North), President.