Executives

Itiviti CEO to Step Down in New Year

Trading know-how supplier Itiviti introduced on Thursday that Torben Munch, the corporate’s Chief Executive Officer (CEO), will likely be stepping down on the finish of this 12 months.

“Under Torben Munch’s adept management, Itiviti has advanced from a various group of corporations into a worldwide, full-service know-how and infrastructure supplier for the capital markets,” mentioned Per E. Larsson, Chairman of the Board, Itiviti. “We credit score Torben with constructing a robust group and creating a stable, coherent providing aligned with market necessities and buyer wants.

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Richard Bentley, Itiviti’s Chief Product Officer, has been appointed Interim CEO – a place he’ll take up on January 1st, after Munch’s departure. Bentley joined ULLINK, which was acquired by Itiviti final 12 months, in 2014.

“During the latest, intensive section of integration, I’ve come to understand the dimensions of the chance accessible to the brand new Itiviti and the pool of extremely proficient folks now we have within the firm to assist seize it,” mentioned Bentley. “I’m dedicated to harnessing our collective capabilities to ship on our technique and serve our excellent clients with the options and help they require.

On the hunt for the subsequent Itiviti CEO

Bentley will not be, nevertheless, going to be staying in his new place completely. According to a press release launched by Itiviti on Thursday, the buying and selling know-how supplier’s Board of Directors is already searching for a substitute for Munch.

The outgoing CEO has been with Itiviti for just below three years. He joined the corporate in early 2016 and has overseen some main modifications in his time on the helm.

Most notably, he oversaw the aforementioned acquisition of ULLINK, a deal that set Itiviti again $650 million, and subsequent integration of the buying and selling software program firm into Itiviti’s operations.

Munch’s subsequent transfer is unclear, however he’s unlikely to be wanting choices. The ex-CEO has over 20 years of expertise within the monetary companies trade.

 

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David

David is the founder of DebtDefined.com. The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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