Adding to its catalogue of new hires this year so far, investment management solution vendor DST Global Solutions has poached three new executive team members from vendor rivals to add to its Investment Management Solutions business. The vendor has hired ex-HCL Technologies executive Philip Hogan, ex-Temenos marketing director Peter McKenna and ex-Thomson Reuters data executive Chris Lord.
All three appointments will report directly to Arun Sarwal, CEO for Investment Management Solutions at DST Global Solutions, who is a fairly recent hire himself. The vendor officially announced his appointment in August, although Sarwal had been advising DST on its strategy since September 2008.
Hogan joins as head of solutions management for Asset Servicing, Analytics and Data Management. Most recently he was chief executive of the Insurance BPO Services business for HCL Technologies. While at HCL he was responsible for returning the business to profitability and integrating it into the HCL Global operating model, after leading the sale of the business from private equity ownership to HCL in September 2008.
In his new role, Hogan will be accountable for the profitable development of the Asset Servicing, Analytics and Data Management business and the vendor hopes he will bring a client and value driven focus to the division’s new business propositions.
McKenna joins as market development director with over 20 years’ experience working within the financial technology sector. Most recently he was group marketing director at Temenos, a core banking systems supplier, where he was responsible for setting the company’s global marketing operations strategy and its subsequent implementation.
McKenna’s career in financial technology began with various senior management roles in sales, business and product management at Thomson Reuters, then as head of investor services and transactions at Interactive Investor International. He also held the position of marketing director at Misys Asset Management Systems, and eventually as marketing and then sales director at Gissing Software. At DST Global Solutions, he will be responsible for developing the Investment Management Solutions marketing strategy and the execution of a range of marketing initiatives to help achieve the group’s business objectives.
Lord joins DST Global Solutions as global head of development from Thomson Reuters where he was the global head of fundamental data and was accountable for the key time series, reference and corporate actions system. He was responsible for the management and leadership of 200 employees in China, India, UK and the US, covering analysis, support and development. During his time at the data giant, he initiated a global transformation programme to improve the quality and volume of software deliveries.
Lord started in financial services as a trader 20 years ago before moving into financial technology. His focus at DST Global Solutions will include the globalisation of the current development function and improving the quality and turnaround of software deliveries for the Investment Management Solutions business.
The hires are therefore all part of the vendor’s aggressive expansion strategy that has been ongoing this year, including the establishment of a new business development team in China last month. Sarwal explains: “Our growth strategy is centred on building our business around strong and trusting relationships with our clients. We will achieve this by addressing global asset management industry issues with timely and relevant solutions to significantly improve operational efficiency, risk and business performance management and overall competitiveness. These three key executive level appointments along with other recent changes will enable us to deliver on our strategy.”
DST Global Solutions relaunched in May 2009 into three business divisions: Investment Management Solutions, Business Process Solutions and Customer Lifecycle Management. The Investment Management Solutions business is the largest of the three lines of business and is responsible for accounting, risk management and data management solutions including HiPortfolio, Askari, HiPerformance, Reporter and OTC Life Cycle Manager.