Following the exit of ex-Investment Services head Geoff Harries and ex-marketing head Irene Mulkeen earlier this year, Fiserv has lost yet another corporate actions focused executive in the form of former sales exec Ben Hopcroft, who has joined eVent rival XSP. Hopcroft is now senior sales executive and account relationship manager for the EMEA region at XSP, reporting to former Fidelity ActionsXchange exec Chris Madigan, who joined XSP last October.
Fiserv’s Financial Institution Services business, which includes corporate actions automation solution eVent, has experienced a tough start to 2010 with a revenue decline of 3.3% on the previous year’s figures. The exit of Hopcroft and other recent departures, as well as these rather sobering results, seem to indicate that the vendor may be planning to exit the corporate actions business in the near future.
In his new role however, Hopcoft will continue to be based in London and will now be responsible for supporting the EMEA sales programme for the XSP v5 corporate actions platform. This is similar to his role at Fiserv and CheckFree (before it was acquired by Fiserv) in which he was charged with expanding sales opportunities and promoting brand awareness for eVent in the European and Asia Pacific markets.
Prior to Fiserv, Hopcroft worked at Exchange Data International (EDI), whose data interface is supported by the XSP product, for over 11 years in sales and business development roles.
Hopcroft’s new boss Madigan is also a fairly new recruit for XSP, which has been scaling up its efforts this year to garner market share from rivals such as Fiserv, SmartStream and Information Mosaic. He is based out of New York and has responsibility for developing new business and cultivating existing relationships with strategic clients and partners of XSP.