Jeffrey Leaves Information Mosaic
Industry veteran Douglas Jeffrey has left his post as president for the Americas for Information Mosaic and is working with Recondo Technology, a software as a service (Saas) provider for the healthcare industry. Jeffrey confirms that he is the New York-based vice president for strategic accounts at Recondo, which provides Web-based, point of service payment and collection services for hospitals.
An Information Mosaic spokesman says the post-trade and corporate actions processing software vendor has no plans to replace Jeffrey, who held the post for two years.
“I went back to work for my old boss at New Era of Networks (NEON) Rick Adam,” Jeffrey says. “I am now in the healthcare industry.”
The Recondo offerings provide middleware to hospitals that will enable them keep track of insurance company authorizations and payments for services rendered. Like the financial services sector 20 years ago, the hospital industry represents a major opportunity because there is such a lack of automation, Jeffrey says.
Adam is the founder of Recondo and NEON, which provided electronic data interchange (EDI) and application integration software for the healthcare, financial services, and manufacturing/distribution sectors. Jeffrey served as the president of financial services division of NEON. Relational database vendor Sybase bought NEON in 2001.
In addition to NEON, Jeffrey’s career includes positions with Netik, a reference and market data managed services provider; market data providers Thomson, Telerate, Reuters and Interactive Data Corp.; and the SWIFT financial messaging cooperative.
SWIFT to Hire 100 as SS&C Gains Staff after Gravity Acquisition
Over the next three years, financial messaging and services cooperative SWIFT will be hiring more than 100 new staff members for its Asia-Pacific corporate hub, which will have two locations—Kuala Lumpur and Singapore.
“Kuala Lumpur is expected to employ 100 staff by 2015, which will be resourced locally,” says Marcel Bronmans, head of human resources for SWIFT. “Additionally, for our Singapore office we’ll be staffing marketing experts with global roles, some of which will be new hires from the region.”
The Kuala Lumpur corporate services center will feature support for IT development, qualification testing, finance, human resources and operational functions, officials say. SWIFT will implement a management structure that will oversee local hiring slated to start by the end of 2012.
“Kuala Lumpur is a fast-developing business location with strong government support for development of the service industry,” Bronmans says. “We plan to take advantage of this by creating an entirely new corporate services center, which will complement similar centers of SWIFT in the U.S. and Europe.”
SWIFT already has a presence in Singapore as part of a three-decade long foray into the region that started with Hong Kong. SWIFT has eight commercial and support offices such as those serving Tokyo, Australia and New Zealand. In addition, SWIFT has had a regional office in India for the past 20 years.
The new corporate hub strategy will increase SWIFT’s global marketing presence in Singapore over the next three years. SWIFT officials add that there will be new hires for commercial functions in Singapore and elsewhere in the region to support growth in that part of the world.
“By 2015, we will have dramatically increased our resources in Asia-Pacific, which is expected to contribute significantly to the growth of our global business,” says Gottfried Leibbrandt, CEO for SWIFT in a prepared statement. Ian Johnston is serving as chief executive, Asia Pacific for SWIFT.
CEO: No Layoffs to Follow SS&C’s Acquisition of Gravity
SS&C Technologies Holdings’ acquisition of fund administrator Gravity Financial announced last week will not result in any layoffs and might pave the way for future hires, says Bill Stone, chairman and CEO of SS&C, a provider of investment and financial software and services.
For the moment, the acquisition will add 40 fund services customers and 10 staff members to SS&C, according to officials. “We added 40 clients bringing us to little more than 6,000 clients,” Stone says. “The acquisition is well aligned to our overall corporate strategy and will enable us to add further value to clients in the Northeast.”
The acquisition is intended to bolster SS&C’s push for targeted growth in the alternative fund services industry.
The Gravity business unit will operate under the name SS&C GlobeOp and will be led by the founding partner of Gravity Financial, Kirby Richards, CPA, and Paul Timmins, CPA, who have joined SS&C GlobeOp as part of the transaction, officials say.
Based in Canton, Mass., Gravity was founded in 2002 to be a boutique, full-service fund administrator providing accounting, tax, investor services and outsourced CFO services to domestic and offshore hedge funds, private equity funds, venture capital funds, funds of funds and their investment managers.
Perseus Targets Financial Services via Business Development Director
Perseus Telecom has appointed Dan Watkins to the post of director of business development to help the telecommunication services provider expand its financial services customer base, officials say. Watkins will oversee strategic partnerships and business development via key industry alliances.
Watkins has 12 years of telecommunications and high-speed enterprise experience in global financial markets. He was the founder and managing director of CC-Speed, a New York-based consulting firm focused on the business development and marketing of financial services applications and technology that accelerates trading performance, officials say. He has worked for Solace Systems, Telx, Sidera Networks, XtremeData, CMA and BT Radianz.
During his time at BT Radianz, Watkns helped build a network platform of more than 50 global exchanges and more than 400 service providers. Before BT Radianz, he worked as a global sales manager at Verizon/MCI, responsible for $100 million in annual revenue and overseeing accounts such as Telerate, the American Stock Exchange and Nasdaq OMX.
Barclays Bank Adds to Executive Committee
Barclays Bank has broadened the structure of its executive committee by adding to its ranks Valerie Soranno Keating, chief executive, Barclaycard, and Ashok Vaswani, chief executive, UK retail and business banking, officials say.
The bank has eliminated the role of chief executive for the retail and business banking unit, which Antony Jenkins held before moving up to Group CEO for Barclays Bank.
Vaswani will oversee retail and business banking products and services globally, and Curt Hess, chief executive, Europe retail and business banking, will report to him. Keating will retain responsibility for cards and payments globally.
The bank did not announce other changes to the executive committee and all members will report to Jenkins.
BI-SAM Names Top Players to its Board
BI-SAM Technologies, a data management, performance, attribution, risk, GIPS and reporting solutions vendor for asset managers has added major industry players to its board of directors. Joining Alexandre Harkous, BI-SAM’s CEO on the board are: Philippe Collas, former CEO of Société Générale Asset Management; Harold Moseley, former chief information officer (CIO) of the Blackstone Group; François Peccoud, former president of the Compiegne Technology University; Donal Smith, former CEO of Data Explorers and former CEO of Thomson Financial in Europe and Asia; and Deborah Bernstein and Geoffrey Kalish, partners at Aquiline Capital Partners.
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