Gain Capital CIO Moves to Scivantage
Andrew Haines, who served as the chief information officer (CIO) at Gain Capital Group, has taken on the same role at Scivantage, a vendor of online brokerage, tax and portfolio reporting and wealth management applications; Haines is replacing Anthony Scrimenti, officials say.
“I very much enjoyed my tenure at Gain,” Haines says. “Building the company from a start-up stage through to the IPO at NYSE was a very interesting and challenging experience. However, as companies mature, their needs change and after seven years at Gain, it was time for a change for me.”
Haines says that he has known Adnane Charchour, CEO of Scivantage, personally and professionally for years as Gain is a client of Scivantage for its broker-dealer operation. “We are of a similar mind in many areas of business and technology,” he says. “It was clear that this was the right time for me to join the Scivantage team.”
In his new role, Haines will report directly to Charchour.
“My mandate is to streamline product development and delivery to support the company’s business growth and client services strategy,” Haines says. “As a growing financial services technology company, we need to have a laser focus on extending the features of our existing product lines, as well as looking to develop new products/offerings that complement our current solutions.”
Haines says he wants to develop a culture of “innovation that incentivizes teams and individuals to self organize around creating new and differentiated products.”
In particular, Haines says he wants to expand mobile and tablet capabilities. “Most importantly, I need to ensure that my team is prepared for these changes and expected growth with the right blend of skills, tools and attitude.”
For next year, Scivantage has “aggressive plans to double our revenue in 2013 through both organic growth and acquisitions,” Haines says.
“On the cost basis side, we are delivering updates to our Maxit product to comply with regulatory changes related to fixed income and options processing, as well as looking at tools and services that go beyond regulatory requirements to assist in tax and portfolio management for retail investors and financial advisors,” Haines says. “To accomplish this, we are constantly looking to build the Scivantage team with the optimal set of skills and experiences.”
In addition to his time at Gain, Haines has also held senior technology management positions at Merrill Lynch, Salomon Smith Barney, and Virtual Growth/Insperity.
OpenLink Names Successor to Hesselbirg
Mark Greene,
CEO,
OpenLink
Nearly three months after OpenLink Financial (OLF) began an executive search, the provider of cross-asset trading, energy and risk-management solutions has announced that industry veteran Mark Greene will take over as CEO on Dec. 19 of this year after completing transitional responsibilities for Fair Isaac Corp. (FICO); he stepped down from the CEO post there earlier this year.
Greene served as FICO’s CEO for five years. Before that, he was vice president of financial services, sales and distribution at IBM. He will become a director for OLF effective immediately and will replace current CEO Kevin Hesselbirg. OLF has elected Hesselbirg vice chairman of the board, also effective immediately, officials say.
The OLF technology and personnel, clients and OLF’s growth potential persuaded Greene to take the top post, he says, adding that he will work to “drive the next iteration of innovation in risk, analytics and trading.”
Greene says he is looking forward to working with the “blue chip clients that trust us with their complex trading and risk management problems. … There is plenty of room for growth at OpenLink, expanding across the full transaction lifecycle, into new geographies, and into new industry verticals.”
Greene, who has a Ph.D. from the University of Michigan in economics, says that his background in econometrics, risk and risk solutions “are the main drivers that get me out of bed in the morning,” and have prepared him to be CEO for OLF. “As a data hound, there was a natural attraction from me to the OpenLink environment,” he says.
“It is too soon for me to set forth a detailed vision, but I look forward to having a better perspective after our upcoming Global User Conference in Montreal on October 17-19,” Greene says. “The vision I have is to take all this intellectual capital to a wider customer base and to continue to lead the ongoing evolution of the Commodity/Energy Trading and Risk Management (C/ETRM) space.”
In addition to FICO and IBM, Greene’s 30 years of experience includes positions with the Federal Reserve Board and Citigroup.
OLF, based in Uniondale, NY, was acquired in October 2011 by private equity investment firm Hellman & Friedman LLC.
Former Eze Castle Software EVP Joins Advise Technologies
Sean Sullivan, the former executive vice president and head of global sales for Eze Castle Software, is now president of Advise Technologies, a document management and regulatory reporting solutions provider for global regulatory compliance, officials say. Sullivan will report to Doug Schwenk, founder and CEO of Advise.
At Eze Castle Software since 2001, Sullivan oversaw record client growth in the U.S. and throughout Europe and Asia, officials say. In addition to the Eze Castle Software post, he has had a career in trading, sales, research, soft dollar sales and IT.
“As regulations for the investment management community continue to become more demanding worldwide, Advise has a significant opportunity to take the success it has seen in the United States and replicate it in Europe and Asia,” says Sullivan in a prepared statement.
Developed by hedge fund industry professionals, Advise’s Consensus RMS suite of regulatory reporting solutions enables firms to interpret, aggregate and normalize data from disparate sources to electronically file regulations, including Form PF. The firm also provides a document management system, called Vault DMS.
Savvis Launches Data Center for Frankfurt Firms
Savvis, a cloud infrastructure and hosted IT solutions provider for enterprises, has moved into continental Europe with the opening this week of a data center in the financial district of Frankfurt, Germany. The data center will offer clients colocation, managed services, cloud computing and network services.
“Savvis’ data center expansion into Germany signifies a major milestone in our plans to serve growing demand in the European market,” says Bill Fathers, president of Savvis, in a prepared statement. Savvis customers in Frankfurt will be offered low-latency market access to more than 150 global and local carriers, along with the trading systems of the Frankfurt Stock Exchange.
The data center also offers Savvis Symphony Dedicated private cloud service, with Savvis Symphony Virtual Private Data Centre (VPDC) public cloud services launching in early 2013, officials say. Savvis announced in May that it had opened its German headquarters in Frankfurt.
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