The former SunGard CEO Conde will work alongside Julien Hammerson, Calastone’s CEO.
Calastone, a funds transaction network, has named Cristóbal Conde chairman of its board, effective immediately.
Conde, who last year joined the Calastone board as a non-executive director, and is an investor in the privately held business, will work alongside Julien Hammerson, the company’s CEO, according to a statement.
Calastone offers its Global Transaction Network to firms that need to automate their transaction processes from order entry, valuations, reconciliations, re-registration to settlement and reporting, officials say. The vendor’s customers include fund managers, distributors, third-party administrators, transfer agents, retail stockbrokers, fund platforms, wrap platforms, global custodians, pension fund administrators, financial advisers, private banks and private client wealth managers.
Cristóbal Conde, Chairman of the Board, Calastone.
Conde’s own professional history is most linked with the history and development of SunGard Financial Systems, the software and IT services company where he spent 28 years. In 1983, he co-founded Devon Systems, a financial technology software business serving the derivatives markets, according to the Calastone statement, which notes also that, after SunGard acquired Devon in 1987, “Conde ran his business as a division of the parent company, growing it into one of the largest businesses at SunGard.”
Subsequently, he became SunGard CEO, taking the firm private in 2005 in an $11.3 billion leveraged-buyout, the statement adds, noting that when he stepped down from SunGard in May 2011, the “technology giant had revenues of $5.6bn, was ranked 380th on the Fortune 500 list and was the largest privately held business software and IT services company in the world.”
That same year, FTF News named Conde its FinTech Person of the Year.
At the time of his SunGard departure, FTF News made the case for including him in the first rank of today’s transformational technologists and entrepreneurial titans, observing that it was “difficult to think of SunGard without Conde. Think of Steve Jobs and Apple Computer, Bill Gates and Microsoft, and Larry Ellison and Oracle — all visionaries whose ambitions and tenacity paid off.”
Today, Conde continues to serve as a senior member of the Partnership for NYC Fund’s fintech incubator for software companies, and is a senior adviser and director of several for-profit and non-profit organizations, including True Office, a start-up technology company that uses game mechanics and motivational techniques for regulatory compliance training, where he became executive chairman in 2012. He recently also joined the board of OpenGamma, a risk management software vendor. Additionally, he’s a board member at Centripetal Networks, Digital Reasoning Systems and MassMutual Financial Group, among others, as well as a senior advisor at Kasisto Inc. and TPG Capital, and the former chairman of Whiptail, a data storage specialist that was acquired last year by Cisco Systems.
Conde’s “experience and advice has been a great asset to the company, and elevating him to Chairman will only serve to strengthen Calastone at its core,” Calastone CEO Hammerson says in the statement.
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