23 February 2018
visit www.nextgenbanking.co.uk/

Fundtech COO Sgroe and CMO Ravich leave

04 January 2013  |  6389 views  |  1 two business men silhouette sitting 3

Fundtech president and chief operating officer Michael Sgroe and chief marketing officer George Ravich are set to leave the transaction banking vendor.

Fundtech revealed that the two veterans - who have both been with the firm for more than a decade - are on their way out at a town hall meeting yesterday.

Sgroe joined the company in 2000 after 16 years at Chase Manhattan and Chemical Bank. Previously, he was CIO and vice president of technology and operations for the e-procurement systems provider Intelisys.

Ravich arrived in 2002 to lead Fundtech's global marketing after working as SVP of corporate development at Financial Fusion and a stint at AT&T.

Fundtech was acquired in a deal worth around $360 million by GTCR in late 2011 after the private equity firm gazumped S1 Corporation, which had already agreed a $700 million merger with its fellow vendor.
KeywordsPEOPLE

Comments: (1)

A Finextra member
A Finextra member | 07 January, 2013, 09:10

FT is owned by private equite. is this good or bad ? PE would generally be intreasted in profits, so what would be the strategy. hold the portfolio company, increase value and then sell ? wouldn't this create uncertanity and attrition consequently impacting the bottom line ?

 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Sibos Live: Fundtech's Ravich speaks out on S1 merger break-down

Sibos Live: Fundtech's Ravich speaks out on S1 merger break-down

21 September 2011  |  6290 views  |  0 comments
S1 agrees to kill Fundtech deal; warns off ACI

S1 agrees to kill Fundtech deal; warns off ACI

16 September 2011  |  8737 views  |  0 comments
Fundtech board ditches S1 for PE outfit GTCR

Fundtech board ditches S1 for PE outfit GTCR

15 September 2011  |  8214 views  |  0 comments
ACI steps up efforts to scupper S1-Fundtech merger

ACI steps up efforts to scupper S1-Fundtech merger

16 August 2011  |  7615 views  |  0 comments
ACI makes offer for S1

ACI makes offer for S1

26 July 2011  |  10935 views  |  0 comments
S1 and Fundtech agree merger

S1 and Fundtech agree merger

27 June 2011  |  10640 views  |  0 comments
Fundtech confirms takeover talks

Fundtech confirms takeover talks

15 June 2011  |  11418 views  |  0 comments
Fundtech marks down guidance on Q1 net loss

Fundtech marks down guidance on Q1 net loss

05 May 2009  |  5369 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukRegister for the webinarvisit www.capgemini.com/worldreports

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
10916 views comments | 14 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10061 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
7839 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
7542 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7289 views comments | 10 tweets | 14 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job