Howard Edlestein, CEO of Thomson ESG and architect of the merger with the DTCC trade matching business which led to the creation of Omgeo, has joined Radianz as president and CEO. Doug Gilstrap, the current CEO, has resigned.
Since leaving Omgeo, Edelstein has served as entrepreneur-in-residence at Warburg Pincus. He also has held senior positions at financial services and technology firms such as Dow Jones Telerate, Inc. and Knight-Ridder, Inc. “I speak for Reuters CEO Tom Glocer and Equant’s President and CEO Didier Delepine in saying that we are delighted to have secured someone with Howard Edelstein’s track record and experience as Radianz’s new president and CEO,” says Radianz Chairman David Ure. “We believe he has the skills needed to build rapidly upon Radianz’s leadership position in providing network, hosting and voice services to institutions worldwide. At the same time, we also wish to recognize Doug Gilstrap’s leadership in turning the Radianz concept into a viable, industry-leading global company.”
Edelstein starts work at Radianz on 21 July. Gilstrap, who steps down on 15 August, is moving with his family to Houston, Texas for personal reasons. After he leaves the company, he will serve as a consultant to Radianz.
The appointment of Edelstein may presage consolidation of the specialist financial telecommunications industry. Under Gilstrap’s direction, Radianz’s revenues grew year on year to a projected US$550 million in 2003. “I will leave knowing that Radianz has a solid foundation from which Howard Edelstein will be able to take the company to new heights,” says Gilstrap. “Radianz has a strong management team, growing revenues and the confidence of thousands of financial institutions worldwide, which makes the company the industry standard for financial communications. Radianz is well positioned for the future.”
Edelstein added: “I am tremendously excited about joining Radianz at this point in its history. Radianz clearly has a proven business model and a very capable and dedicated team. I look forward to the opportunity to lead Radianz to even greater success in the future.”