Ho replaces Michael Sgroe - who, as Finextra revealed last week, is leaving the firm after a dozen years - taking on responsibility for all operations around the world, reporting to CEO Reuven BenMenachem. He also joins the board.

He joins after nine years at Misys, where he acted as EVP and general manager of the capital markets division. Before that he was the CEO and president of IQ Financial Systems, a lending and risk management systems specialist which Misys acquired in 2004. He also spent 13 years with Bankers Trust and subsequently Deutsche Bank as an investment banker.

Says BenMenachem of the new COO: "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."