Reference data management platform provider Soliton has revamped its senior management team in a bid to exploit growing industry interest in consistent, timely and accurate reference data. Soliton’s TimeSquare offering is designed to automate the acquisition and management of reference data and allows institutions to create a single, sustainable security master database.
The reorganization involves the departure of chief executive Clarke Bruce, who has left to pursue other interests. Nazir Noormohamed takes on the role of president; he was previously CFO. Meanwhile, Soliton has named Don Williams executive vice president of sales and marketing, reporting to Noormohamed. Soliton’s global sales and marketing teams, including London-based Carole Mahoney, will report to Williams.
Williams was most recently an independent contractor. Before that, he was senior vice president of sales at SageMaker, a data management platform provider that was acquired by Divine Inc. a few years ago. Williams has also held senior management positions at Standard & Poor’s Platt’s and Saladin, the energy information platform owned by the former Fame Information Services, which was recently acquired by SunGard.
Bruce’s departure is something of a surprise. It follows by some months the dissolution of Soliton’s agreement to provide Reuters with a data management platform as a core component of its reference data product strategy. The Reuters deal was understood to be substantial and involved a plan to create a so-called Data Management Solutions group at the big data vendor. That plan grew out of the collapse of Reuters’ relationship with Capco and their joint venture Synetix.
Post-Reuters, Soliton regrouped to pitch its TimeSquare platform as a data-neutral information management system. The company began targeting users requiring a sophisticated technology solution at economic rates. At the time, Bruce told Reference Data Review: “Rather than offering an all-singing, all-dancing ASP solution, TimeSquare offers plug-and-play functionality, allowing users to select functions that they really need.”
Soliton offers interfaces to range of data services. These include Bloomberg Data License, Bloomberg Professional, CRSP, FT Interactive Data, Iverson Financial Systems (now part of Capco), Reuters SSL, Reuters DataScope, Standard & Poor’s Compustat and Telekurs Financial’s Valordata Feed (VDF). Clients include State Street Bank and Equilend.