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Salomon Trader’s Debt-Funded Empire Left Reeling by Russian Hack

  • Multiple acquisitions built ION into financial services giant
  • Andrea Pignataro has kept a low-profile during hack outage
Andrea Pignataro in London, on Feb. 9.
Andrea Pignataro in London, on Feb. 9.Photographer: Hollie Adams/Bloomberg

A cyberattack that wreaked havoc across derivatives firms last week has left Andrea Pignataro, the Italian tycoon who heads the software company at the heart of the storm, grappling with something he has avoided for decades: publicity.

The former Salomon Brothers bond trader who helped set up ION Trading in the mid-1990s has largely shunned the limelight, rarely speaking at events and never once giving an interview to the English-language media. While ION staff worked around the clock to resolve the cyberattack and reassure clients as their systems were being held to ransom by Russian hackers Pignataro, 52, remained out of sight.