Paladyne Bolsters Sales Team to Take On New Markets
Paladyne Systems, a Broadridge Financial Solutions subsidiary, has hired an industry veteran and expanded its sales team to target opportunities beyond the hedge fund space, say officials at the investment management solutions provider.
Jim Feingold,
VP & global head of sales,
Paladyne
Leading the expanded team will be industry veteran Jim Feingold as vice president and global head of sales, officials say. Feingold will oversee new and existing buy-side opportunities with hedge funds, asset managers, service providers and channel partners. He will also support sales into adjacent markets.
Previously, Feingold served as global head of institutional sales at DirectMarkets and as global head of sales and marketing at Portware, a maker of execution management system (EMS) software. Feingold has also held sales and marketing positions at Merrill Lynch (now part of Bank of America), Progress Software, Bloomberg and Laidlaw Capital Management.
“We are at an inflection point right now as the buy-side faces an increasingly complex global market landscape, shifting government regulations and the need to monitor their business challenges in real-time,” Feingold says in a prepared statement.
Feingold will be joined by Devani Maijala who joins Paladyne as a senior director of sales overseeing global hedge fund administrators and asset managers; Lisa Zippelius as Paladyne’s New York-based senior director of buy-side sales for the prime brokerage channel; and Michael Conti as senior director of sales, covering direct sales to hedge funds and asset management clients in the U.S.
Maijala’s most recent position was as senior relationship manager of the Americas for Bloomberg’s enterprise asset and investment manager (AIM) division, focusing on portfolio and risk analytics. Zippelius spent nine years at Goldman Sachs where she was most recently a vice president in the prime brokerage group as a trader on the securities lending desk. Conti was most recently at Thomson Reuters as a global sales lead.
As for the growth potential, Sameer Shalaby, president of Paladyne Systems, says that the acquisition by Broadridge in September 2011 created the opportunity to target new market segments “across the Broadridge client base” that could use the Paladyne platform and products.
“Broadridge has continued to invest in Paladyne to ensure that we can adequately expand into these adjacent markets,” Shalaby says. “The long-only, traditional asset management sector represents a logical growth opportunity.” Hedge funds and their service providers will remain a key market for Paladyne, he adds.
As Paladyne expands into new markets, Shalaby says its competitors are likely to include investment software and systems providers Eze Castle Software, Charles River Development and Linedata Beauchamp as well as enterprise data management (EDM) vendors Asset Control, GoldenSource and Cadis.
JPMorgan’s Staley Moves to BlueMountain
Asset manager BlueMountain Capital Management’s latest managing partner is James E. (“Jes”) Staley, the former CEO of JPMorgan’s investment banking division, officials say. Staley will be responsible for establishing relationships and new business strategies in order to expand the company and its client base.
As BlueMountain’s ninth managing partner, Staley will serve on BlueMountain’s management committee, its risk committee and its investment committee, officials add. In addition, Staley will purchase a stake in the firm with proceeds to be invested back into the company. BlueMountain, which is focused on the credit markets and equity derivatives, has more than $12 billion in assets under management.
In addition to serving as head of investment banking, Staley, who has more than 34 years of industry experience, was also JPMorgan’s head of the asset management division. Prior to leading the asset management division, Staley served as the head of JPMorgan’s private bank and was one of the founders of JPMorgan’s equities business.
“I’m very excited to be joining BlueMountain at a time when sea changes in the financial industry combined with the firm’s unique strengths open up enormous possibilities to deliver value to clients,” says Staley in a prepared statement.
TCW Group Hires General Counsel from Irell & Manella
Meredith Jackson,
EVP & general counsel,
TCW Group
The TCW Group has hired Meredith S. Jackson to be executive vice president and general counsel for the Los Angeles-based asset manager, officials say. Effective immediately, Jackson will succeed Michael Cahill who plans to remain with TCW until mid-year.
Jackson previously worked at Irell & Manella where she served as a partner and head of the debt finance practice and was responsible for the structuring, negotiation and closing of many financial transactions, officials say. At Irell & Manella, she also served as co-chair of the transactional practice group. Before Irell, Jackson served as a member and co-chair of the practice committee of Wilson, Sonsini, Goodrich & Rosati.
Jackson will be based in TCW’s headquarters.
First Data CEO Announces Retirement
Jon Judge,
retired CEO,
First Data
Electronic commerce and payment processing vendor First Data Corp. has announced the retirement of CEO Jon Judge due to health reasons. Judge informed the company’s board of directors about his retirement plans late last week, officials say.
“While my plans didn’t anticipate such an early retirement, those plans needed to be changed for the benefit of my health,” says Judge in a prepared statement.
“Jon has helped the company drive a customer-first focus,” says Joe Forehand, First Data’s board chairman. “Over the last eight quarters under Jon’s leadership, First Data’s EBITDA [earnings before interest, taxes, depreciation and amortization] has grown significantly. … We will miss Jon’s leadership and wish him well in his recovery.”
Judge plans to maintain his position as CEO while the board formulates a transition plan, officials say.
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