SunGard restructures financial systems business

SunGard restructures financial systems business

SunGard has restructured its financial systems business into two distinct industry segments led by Jim Ashton and Harold Finders.

Jim Ashton, previously group chief executive officer, SunGard Trading, Treasury & Risk Management, will be responsible for businesses focusing on benefit administration; brokerage and clearance; energy; insurance; trading; wealth management; and workflow and business processing.

Harold Finders, based in Geneva and the former CEO of SunGard Europe, will be responsible for businesses focusing on alternative investments; banking; capital markets and investment banking; corporates and treasury; institutional asset management; and Asia-Pacific-based businesses.

Cristóbal Conde, SunGard president and chief executive officer, says the idea behind the move is to make the business "more scalable and agile".

"We are breaking down the silos between our business units in order to align more closely with our customers’ unique strategies, to better coordinate our global sales and professional services organisations, to facilitate integration between our products and to improve our industry insight and responsiveness," he says. "Our priority is to drive the top line by capturing growth opportunities in evolving industry sectors."

SunGard’s Financial Systems business had 2006 revenue of $2.1 billion of which 28% was attributable to Europe, Middle East & Africa and Asia-Pacific.

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