Commenting on the company's expansion plans Archer stated, "SmartStream has been a success story to date, but it's the next chapter that will really excite our customers, our employees and our partners. We're making a significant investment in our company that will drive our business forward, scale our operations efficiently and ensure we continue to deliver market leading solutions that provide the highest return on investment to our clients."
The increase in employees includes a variety of different customer facing roles, development positions as well as a number of senior management appointments; most notably Andy Balchin has joined SmartStream as Chief Financial Officer. Balchin, who has previously held senior finance positions with Documentum and Symantec joined from SeeBeyond, where he was Vice President, Finance and Corporate Services EMEA. Commenting on his appointment Balchin said, "SmartStream is at an exciting point in its lifecycle; TA Associates involvement has re-invigorated the firm at a time when its market leading solutions are addressing some of the Financial Services industry's most pressing concerns. I thrive on working with fast growing companies and look forward to helping the team at SmartStream successfully scale their business to deliver even greater value to our clients and shareholders."
In another senior appointment Richard Cummings has been promoted to the position of UK Regional Director. Cummings, who's enjoyed a successful Management career with SmartStream, Reuters, Sungard and JP Morgan has been charged with leading SmartStream's UK operation. "This is a great opportunity," explained Cummings. "SmartStreamâs unique ability to offer clients an integrated suite of Transaction Lifecycle Management solutions that address the most complex challenges in post trade automation is placing the firm on the radar of senior client executives across the industry. Our proven success in addressing issues of Compliance, Customer Service, Operational Risk and Cost Reduction with massively scalable, highly flexible, state of the art solutions makes us a compelling technology partner."