Misys appoints Steve Vaughan, CEO, banking systems

Misys appoints Steve Vaughan, CEO, banking systems

Misys has appointed Steve Vaughan as chief executive of its banking systems division, replacing Ivan Martin who stepped down in December.

Vaughan was most recently group CEO of Synstar, a pan-European IT service provider which is now part of Hewlett Packard.

Prior to this he held a range of roles at IT services outsourcing company EDS, latterly as managing director where he had responsibility for the industry division in the UK.

Misys says Vaughan will also assume additional responsibility as CEO of its newly created 'core banking' business unit.

Group chief executive Kevin Lomax said in January that Misys was restructuring its banking systems business following a 25% decline in first half operating profits at the division. The vendor merging its retail and wholesale banking operations into a single core banking unit in a bid to accelerate growth.

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