BullionVault
Paul Tustain has a diverse work experience spanning several industries. Paul is the Founder and Chairman of WhiskyInvestDirect since October 2015, where they revolutionized the previously uninvestable in-barrel Scotch whisky maturation industry by enabling retail investors to participate on exclusive industry insider terms. Prior to this, they founded and chaired BullionVault in October 2003. BullionVault is the world's largest online bullion investment service, providing a bridge between private and professional bullion markets and lowering the cost of retail participation in gold and silver bullion investment. With vaults in multiple cities, it currently holds 45 tonnes of gold and 1200 tonnes of silver on behalf of 100,000 private clients.
Before their ventures in the finance and investment sector, Paul Tustain founded SAM Systems in January 1990. As a software developer and entrepreneur, the company specialized in middle and back office functions for the banking and stockbroking sectors. Paul served as the Founder and Director of SAM Systems until July 2005 and as Founder of SAM Business Systems until 2002.
Additionally, they worked as a Consultant at Premier Systems from 1991 to 1992 and as an Analyst at Quotient from 1986 to 1989.
Paul Tustain attended the University of Southampton from 1980 to 1981, but no degree or field of study information is available for this period. Subsequently, from 1983 to 1987, they attended the University of Westminster, where they obtained a Distinction in Computer Science.
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BullionVault
BullionVault is a P2P platform for buying and selling physical gold & silver bullion, securely, at low cost. As of January 2013, BullionVault held over $2billion worth of client assets.The bullion is kept in approved vaults within the London Good Delivery system. Good delivery bullion bars are produced by London Bullion Market Association[LBMA] approved refiners, have a known history and can be easily re-sold. Most of the world's professional gold dealing happens within the LBMA good delivery rules. BullionVault is a full member of the LBMA.Unlike most gold investment products, BullionVault's clients own their gold directly as property in their own name within the jurisdiction the gold is stored. Clients can chose to store their gold in Zurich, London, New York or Singapore.An internal market allows clients can trade their holdings with each other in units as small as a single gram. Clients can choose to place large orders [800oz] through the London professional markets. BullionVault itself also runs trading bots to ensure liquidity, quoting two-way prices on its exchange 24/7.In June 2010, the gold industry's key market-development body the World Gold Council joined with the internet and technology fund Augmentum Capital, which is backed by the London-listed Rothschild Investment Trust, in making an $18.8 million (GB £12.5m) investment in the business. This makes BullionVault rare as a disruptive start-up that has been willingly embraced by an established industry.Their exchange's technology stack runs almost entirely on open-source components. CTO Kris Jenkins says, "I couldn't imagine trying to build a company like BullionVault using proprietary software. I've seen startups die while they were still negotiating support contracts. Often when they could have picked an open solution so reliable it would never need support."The company was founded by Paul Tustain in 2005 and is based in London with an office in New York.