Calastone, a cross-border transaction network provider for the mutual funds industry, has appointed ex-ADP Wilco CEO Terry Williams as Chairman.
In the early 1970s, Williams launched Wilco, the computer services company offering open systems technology for the back office and modern development techniques for its Gloss trading and settlement system. In 1996 Wilco was acquired by ADP Inc, and Williams continued as Chairman and CEO.
From 2002 to 2008, Williams was CEO and later executive Chairman of Coexis, a provider of technology solutions for the global securities markets, and now GBST’s Global Broker Services Division.
In April 2009 Williams was appointed Chairman of GBST Europe and advisor to the GBST Board of Directors.
Commenting on the appointment, Kevin Lee, co-founder and Managing Director of Calastone Limited said, We are delighted to announce that Terry has agreed to join Calastone. His track record in delivering innovation to the financial services industry on a global scale is second to none. Since launch in 2008, Calastone has enjoyed considerable growth best witnessed by the rate at which the mutual fund industry continues to connect to take advantage of the benefits of automation and STP.
We continue to grow our transaction network and innovate in other areas, the first of which will be to launch our settlement solution. Terrys reputation can only assist in our endeavours to become the leading independent provider of automation services for the global mutual fund industry.
Terry Williams added, I have been impressed with the pace and progress with which Calastone has grown its transaction network community over a relatively short period of time. The securities markets quickly realised the opportunities that automation and efficiency can bring and I am excited to be involved with Calastones efforts to help the mutual fund industry achieve similar opportunities on a global scale. The calibre of the management team is impressive and I look forward to working with them.
Calastone has also recently appointed Sebastien Chaker as head of its Luxembourg office.