JERSEY CITY, N.J., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced that Edward Ho has joined the company as President and Chief Operating Officer. In his new role, Mr. Ho will be responsible for driving the continued growth of Fundtech, and enhancing its market leadership in transaction banking. He will be responsible for all operations of the company globally, and will report to Reuven BenMenachem, Fundtech's CEO. Mr. Ho will also join Fundtech's Board of Directors. Mr. Ho succeeds Michael Sgroe, who will be leaving Fundtech to pursue new business opportunities.
Mr. Ho has extensive global experience in the financial technology and banking industries. Prior to joining Fundtech he was Executive Vice President and General Manager of the Capital Markets division at Misys, the world's largest provider of banking, treasury, trading and risk management software solutions. As leader of the division for nearly 9 years, Mr. Ho oversaw significant double digit growth through both organic growth and acquisitions, and eventually grew the division to the largest in the company. Prior to joining Misys, he was the CEO and President of IQ Financial Systems, a developer and marketer of commercial lending and risk management systems which Misys acquired in 2004. He also spent 13 years with Bankers Trust and subsequently Deutsche Bank (which acquired Bankers Trust in 1999) as an investment banker. Mr. Ho holds an M.B.A. in Finance from The Wharton School of Business, University of Pennsylvania and a B.A. from Columbia College, Columbia University.
Reuven BenMenachem, Fundtech's CEO, said: "We are very pleased to welcome Ed, a skilled and accomplished business leader, to our board and senior management team. His proven leadership building global technology companies, and driving operational excellence, will be a welcome addition to our leadership team as we position ourselves to achieve Fundtech's strategic business and growth objectives over both the short- and long-term."
Mr. Ho commented: "I am honored to join Fundtech in a senior leadership role as the company positions itself for the next stage of strategic growth. As a leading player in a growing market that is being propelled by technology innovation, geographic expansion and regulatory change, the company is well-positioned to solve customers' complex and unique challenges through innovative products, deep industry expertise and a strong commitment to service. I look forward to working with the board, the management team, and Fundtech's talented team of employees to continue to grow Fundtech's market share and build a strong, operationally sound and customer-focused organization."
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, our clients benefit from lower operating costs and an enhanced end-user experience through our integrated and feature-rich solutions. Our major product lines are: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. We operate Fundtech Connect, one of the world's largest services bureaus that addresses the unique needs of the financial services industry. Thousands of financial institutions and companies worldwide rely on Fundtech's innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com