Top level management clear out of Summit

Top level management clear out of Summit

Misys subsidiary Summit Systems says its CEO Hervé Baulme (pictured) is leaving the company along with managing directors Xavier Bellouard and Georges Bory.

Summit has refused to comment on why all three managers are leaving the company or whether they had new jobs to go to, but it did say their departures have been the subject of discussions for some months.

Ivan Martin, CEO of Misys' banking and securities division will replace Baulme as CEO of Summit Systems. Allen Whipple, an original co-founder of Summit who is currently managing director of the vendor's New York business centre, will become deputy CEO.

Mary Harris has been promoted to managing director of the vendor's New York Business Centre, replacing Allen Whipple. She has been with Summit since 1992 and was most recently executive director, client services.

Mark Cappell will replace Bellouard as managing director of Summit's London business centre. Cappell previously spent six years as managing director of Smartstream Technologies. In an earlier role he was head of business development at Bank of America's capital markets business.

Marc Coutelier will replace Georges Bory as managing director of Summit's Paris business centre, covering continental Europe. Coutelier has been with Summit since the mid-1990s and has held a range of senior level positions, including most recently MD of the Asia-Pacific region, which remains under his direction in conjunction with his new role.

Commenting on the new appointments, Martin says: "With the new management team in place, we expect the pace of development in capital market and treasury application software to accelerate."

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