FNG has learned that Prediction Markets company Kalshi has hired Andy Ross, as Head of Institutional. Andy will be charged with growing Kalshi’s prediction markets institutional business, which has been to date mostly a retail client focused product, via brokers such as Robinhood.

Andy Ross, who is based in London, joins Kalshi from Standard Chartered Bank (StanChart), where he spent the past four years as Financial Markets UK Head, as well as Global Head Prime Brokerage. Prior to StanChart Andy headed LSEG’s CurveGlobal unit, joining in 2016 as CEO of CurveGlobal which was then a new interest rate derivatives venture between LSEG, seven major dealer banks, and the Chicago Board Options Exchange.

Prior to LSEG / CurveGlobal Andy spent 16 years at Morgan Stanley, becoming European Head of OTC clearing for the US investment bank.

Andy Ross posted the following note on social media regarding his move to Kalshi.

After 25 years helping institutions navigate the risks that shape their world, I’ve become obsessed with one question: can we manage risk better?

In 2016, Wall Street told clients to short the S&P as a Trump hedge. Trump won. The S&P went up. Ouch. The hedges didn’t work.

I witnessed this first hand, so did Kalshi’s CEO Tarek Mansour.

Prediction markets do — direct, transparent, regulated exposure to the events that actually move portfolios. Not proxies. The real thing. And the data works: the Federal Reserve’s own research validates the quality and accuracy of Kalshi’s financial markets.

But this isn’t just about better trading tools. Prediction markets are critically useful for society — better data means better decisions, for policymakers and the general public. That matters to me.  It should matter to us all.

Kalshi has already built something extraordinary: a regulated US platform with real liquidity, masses of interesting data, serious ambition, and a rapidly growing institutional client base. Tradeweb just integrated Kalshi’s markets directly into their platform. The institutional moment isn’t coming — it’s here and accelerating fast.

And this team has serious energy. The kind that makes you want to be in the room.

I’m joining as Head of Institutional Business in late March. I can’t wait to help take what is already an enormous institutional franchise to the next level, alongside a team that had the conviction to build this the right way, inside the regulated perimeter, when it would have been much easier not to.

The last time I was this excited I was pacing the delivery room waiting for my first child to be born! I believe prediction markets are the single most important disruptive force in financial markets since the development of the eurodollar future.

Please bear with me as I come up to speed and I look forward to connecting with you all in my new role.