The new organisation will consolidate three of the company's existing major products - Summit, Misys Opics and Misys IQ - under a single operating entity, focused exclusively on the needs and opportunities of the treasury and capital markets arena. The new business commences operations with immediate effect, with over 650 staff serving more than 270 customers across the globe - making it a world leader in the sector.
By pooling the resources and talents of three previously separate teams into a single organisation, Misys can now bring an unrivalled combination of breadth of knowledge and depth of skills to this demanding market. The organisation will be led from New York by CEO Ed Ho, formerly CEO of Misys Opics and Misys Loan IQ. He is joined by CTO Vincent Aubrun, formerly of Summit, and Donal McGranaghan as Head of Development, among others. Peter Bennfors, former CFO of Summit, will now assume responsibilities as CFO for Treasury and Capital Markets.
Creation of the new business allows Misys to segregate investment capital and resources specifically for its Treasury & Capital Markets solutions, leveraging its technological capabilities across products to improve performance and functionality. In addition, the Summit solution will now become Misys Summit, making it an integral part of the Misys product family.
Ivan Martin, CEO of Misys Banking Systems, comments: "It was clear to us that our key core solutions have specific strengths that appeal to different customers in different markets. The creation of the Treasury and Capital Markets business means we can capitalise on our technical and functional knowledge across all our solutions so we maximise our market strength, accelerate our product development and, most importantly, better serve our customers."
With responsibility for Misys Opics and Misys IQ transferring to the new business, Misys' Wholesale business is now able to significantly increase the strategic focus on its remaining core solutions, such as Misys MidasPlus and Misys Trade Innovation. Clive Pedder will spearhead this focus as newly-appointed CEO for Wholesale Banking.