Multifonds, a world-leading software provider to the investment funds industry, today announced that Oded Weiss has joined the company as Chief Executive Officer and Board member. Mr. Weiss assumes the CEO position from Bertil Rouveure, who has become Chairman of the company's Board of Management and is staying actively involved.
"We are delighted to welcome Oded to Multifonds. He brings valuable strategic perspective to our business based on his experience working with leading global asset managers and third-party administrators on both operational and technology projects," said Mr. Rouveure. "In addition, he has a deep understanding of client needs that will help us continue to develop industry-leading software and tap new business opportunities."
Scott Collins, Managing Director at Summit Partners, a private equity and venture capital firm that made an investment in Multifonds Group in 2006, added, "Oded's track record and leadership capabilities make him the ideal choice to drive Multifonds' continued global growth and success, together with the company's strong existing management team."
Mr. Weiss brings many years of successful industry experience to his new role, having used technology to achieve operational efficiencies in areas such as fund administration, clearing and settlement, corporate trust, and custody work. Most recently, he was a Partner at McKinsey & Company in New York, where he was head of the wholesale banking operation and technology practice.
Prior to McKinsey, Mr. Weiss was a Principal in the information technology practice of PricewaterhouseCoopers Financial Services Group in New York. There he worked with major financial institutions on implementing technology platforms and solutions.
"Thanks to his experience not only at McKinsey but at PWC, Oded really understands the implementation and integration challenges facing our clients," noted Van Ta, Multifonds' co-Founder and Chief Technology Officer.
Having previously worked as a consultant to Multifonds, Mr. Weiss also understands the company's business and is familiar with the strategic opportunities ahead. "I look forward to working with everyone at Multifonds," he said, "to develop our products further and help financial institutions gain competitive advantage through their technological investments."
Mr. Weiss has master's degrees in engineering and management from the Massachusetts Institute of Technology (MIT) and from the Technion Israel Institute of Technology.
Multifonds is a leading provider of software solutions for international fund distributors, third-party investment fund service providers, and fund managers. Multifonds' core platform enables many of the world's largest and most prestigious companies in the investment fund industry to grow their business while improving client service levels and efficiency. Multifonds is operational in more than 25 countries worldwide and supports investment fund assets in excess of USD 2 trillion.