London
16 January 2014
Reporter: Georgina Lavers

Former SunGard exec moves to Calastone


Calastone has appointed former SunGard chief executive Cristóbal Conde as a non-executive director.

Conde will take a seat on the main Calastone board and has also purchased a minority stake in the privately held business.

Having spent 28 years at SunGard, Conde stepped down from SunGard in May 2011. At the time of his departure, the firm had revenues of $5.6 billion.

Conde co-founded a fintech software business, Devon Systems, in 1983 serving the derivatives markets globally. After SunGard acquired it in 1987, Conde ran his business as a division of SunGard, and was subsequently promoted to run the entire SunGard business.

Halfway through his 12-year tenure leading SunGard, he took it private in 2005 in a $11.3 billion LBO transaction.

Cris Conde said: “I am delighted to be joining the team and help it accelerate its growth. Calastone addresses a burning issue for financial services firms—how to offer its customers the ability to trade and settle funds globally, with all of the necessary controls and audit trails, at a price point that is disruptive.”

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