Calastone appoints securities industry expert Terry Williams as Chairman

15 Mar 2010

Calastone Limited, the independent cross-border transaction network for the mutual funds industry, announced today the appointment of Terry Williams as Chairman.

Mr Williams brings a wealth of financial services and technology expertise to Calastone born from a career spanning more than thirty years of global product and service innovation. In the early 1970’s, Mr Williams founded Wilco, the computer services company offering open systems technology for the back office and modern development techniques for its ‘Gloss’ trading and settlement system. Mr Williams was responsible for positioning Wilco as a global market leader and in 1996; Wilco was acquired by ADP Inc. Mr Williams was appointed Chairman and CEO and under his leadership, ADP Wilco grew to employ more than 700 staff worldwide with revenues exceeding $100m.

From 2002 to 2008, Mr Williams was instrumental in helping Coexis Limited become a leading provider of technology solutions for the global securities markets assisting the deployment of company’s flagship ‘Syn~’ software into global financial institutions. Under Mr Williams’ leadership, Coexis was ranked among the top 100 fastest growing private technology companies in the UK in the 2008, The Sunday Times Microsoft Tech Track 100 league.

Mr Williams will work with the Calastone management team to provide high level strategic advice and continue to build Calastone’s global reputation as the independent cross-border transaction network for the mutual fund industry.

Commenting on the appointment, Kevin Lee, co-founder and Managing Director of Calastone Limited said, “We are delighted to announce that Terry has agreed to join Calastone. His track record in delivering innovation to the financial services industry on a global scale is second to none. Since launch in 2008, Calastone has enjoyed considerable growth best witnessed by the rate at which the mutual fund industry continues to connect to take advantage of the benefits of automation and STP. We continue to grow our transaction network and innovate in other areas, the first of which will be to launch our settlement solution. Terry’s reputation can only assist in our endeavours to become the leading independent provider of automation services for the global mutual fund industry.”.

Terry Williams added, “I have been impressed with the pace and progress with which Calastone has grown its transaction network community over a relatively short period of time. The securities markets quickly realised the opportunities that automation and efficiency can bring and I am excited to be involved with Calastone’s efforts to help the mutual fund industry achieve similar opportunities on a global scale. The calibre of the management team is impressive and I look forward to working with them”.

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