Financial Models Company (FMC) has appointed Jose Manso as managing director of the company’s FMCNet business unit.
Manso, an industry veteran with twenty years of experience in global trade communications and settlements, started in his new position at FMC’s New York office on 1 November. He reports to Stamos Katotakis, President and Chief Executive Officer.
Prior to joining FMC, Manso served as director of strategic sales and account management at Omgeo, and prior to that he was with DTCC. Manso’s experience in domestic and global custody commenced in 1983 at US Trust.
“FMC recognizes the demand among investment managers, broker/dealers and custodians in North America and Europe for seamless and cost-effective trade communication services,” says Katotakis. “We have responded by creating FMCNet2, a web-based version of our pioneering FMCNet network. We have created a new role for the global oversight of our FMCNet business unit in order to support the growth of the business and we are pleased to have Jose Manso at the helm.”
Katotakis noted that sales, implementations, support, product management and other functional groups within the FMCNet business will be re-aligned under Manso to support the expected growth and expects that FMC will add staff over time to support the expansion of the FMCNet unit.
“Financial Models is a proven industry leader, and I’m delighted at the prospect of applying my experience and skills to the establishment of FMCNet2 as the trade communications network of choice for financial institutions worldwide,” says Manso.
Launched in 1990, FMCNet has more than 240 clients worldwide. FMCNet2, a Web-based trade communications network, was launched in February of this year. At that time, more than 60 clients moved to FMC’s upgraded standing settlement instructions database (SSID). FMC plans to migrate all existing FMCNet clients to the new network.