Cristóbal Conde, the former SunGard chief executive, has been appointed a non-executive director at Calastone.
Conde will take a seat on the main Calastone board and has also purchased a minority stake in the privately held business.
Conde stepped down from SunGard in May 2011. He entered the company after its acquisition of Devon Systems, the fintech software business he co-founded, in 1987. Conde ran his business as a division of SunGard and was subsequently promoted to run the entire SunGard business. Halfway through his 12-year tenure leading SunGard, he took it private in 2005 in an $11.3 billion LBO transaction.
Cris Conde said, on joining Calastone: “I am delighted to be joining the team and help it accelerate its growth. Calastone addresses a burning issue for financial services firms – how to offer its customers the ability to trade and settle funds globally, with all of the necessary controls and audit trails, at a price point that is disruptive. I am proud to be given the opportunity to both invest in, and spend time with, Julien’s team in order to help accelerate its growth trajectory.”
Julien Hammerson, chairman and chief executive of Calastone, said: “I am exceptionally proud to be able to announce that such an industry figurehead, as Cris is, will be joining our team. When we announced our latest fundraising, we suggested we would be bringing in proven talent to deliver against our global strategic plan.”
Julien continued: “Cris brings three decades of technological expertise and the valuable experience he will contribute to the company is unrivalled. I feel very privileged to be working alongside such a talented individual and am looking forward to drawing on his knowledge as we accelerate our company’s growth across a number of international markets.”