Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, reports the appointment of Adam Wayne, formerly vice president of human resources service delivery at JPMorganChase, as the company’s new human resources director. Wayne will be based in Abacus’s New York office and will report to Jonathan Bohrer, chief financial… Read More >>
Options Taps KPMG for CFO
Managed services provider Options has appointed former KPMG auditor Brian McKimm as its chief financial officer (CFO), officials say. In his new role, McKimm will be responsible for overseeing the development of Options’ global finance function across Europe, the U.S. and Asia, with “a particular focus on investor relations and strategic finance projects,” according to… Read More >>
Abacus Group Opens Los Angeles Office
After a record year in 2014 driven largely by its AbacusFLEX private cloud solution, Abacus Group, a financial IT services provider, will open a new office in Los Angeles, according to a statement from the vendor. Abacus added 60 clients last year and saw growth in its other managed services and hosted solutions, officials say…. Read More >>
Ops Story of the Year: The Return of the T+2 Push
It’s been a dynamic year when straight through processing (STP) and the push for T+2 settlement cycles made big comebacks while disturbing layoffs and ongoing fines and penalties appeared to be on the rise. We at FTF News have compiled the following list of the top Ops stories, trends, new currents and online video coverage… Read More >>
Liquid Gives CFO an ‘Inducement Grant’
Liquid Holdings Group, Inc., a provider of cloud-based investment management solutions, reports an “inducement grant” to Peter R. Kent, its new chief financial officer. “As an inducement for Mr. Kent to accept employment with Liquid, effective November 13, 2014, Mr. Kent was awarded a grant of nonqualified options to purchase 1,000,000 shares of the company’s… Read More >>
Infosys Names General Counsel & Intends to Hire 2,100
Outsourcer Infosys has appointed industry veteran David D. Kennedy to serve as executive vice president and general counsel for the company and as executive officer of the company for the purposes of SEC Reporting, officials say. The company has also announced an effort to add 2,100 employees to its ranks, including many recent graduates and… Read More >>
Prudential Investment Managers Signs with StatPro
Financial software provider StatPro Group has announced that its products are now being rolled out across a selection of funds run by Prudential Investment Managers (PIM), one of South Africa’s top ten largest investment managers, according to a company statement. The rollout follows the signing of a five-year contract earlier this year between StatPro and… Read More >>
SEC’s CIO to Leave in October
Thomas Bayer, the chief information officer (CIO), is leaving the SEC in October after a four-year tenure marked by “significantly reduced operation and maintenance costs,” say SEC officials. For the moment, there is no immediate replacement for Bayer and it is not known what his next move will be, say sources familiar with the situation…. Read More >>
Are You Ready for Cloud 2.0?
I concluded late last year that end-user firms and financial technology providers were quietly entering the next phase of the cloud computing revolution. My analysis, based on anecdotal evidence, is that buy- and sell-side firms ignored the cloud hype three years ago and focused on how to alleviate the initial, justified concerns over data security… Read More >>
Macquarie Futures to Use Cloud-Based Recs
Macquarie Futures, a futures commission merchant of Australian financial services firm Macquarie Group, will be deploying a reconciliation system from Gresham Computing, the Clareti Transaction Control (CTC) solution via an Amazon Web Services (AWS) public cloud computing deployment, officials say. The Amazon cloud will deliver the automated reconciliation and exception management services of CTC to… Read More >>
