Former Thomson Financial and Omgeo stalwart Howard Edelstein is to take over from Doug Gilstrap as president and CEO of Reuters/Equant joint venture Radianz.
Edelstein joins Radianz next week from Warburg Pincus where he served as "entrepreneur in residence". Before that, he was president and CEO of Thomson Financial ESG which he founded and later merged with the Depository Trust and Clearing Corporation's Tradesuite business to create Omgeo, the industry utility for straight-through processing. He also has held senior positions at financial services and technology firms such as Dow Jones Telerate, and Knight-Ridder.
Gilstrap and his family are moving to Houston, Texas for personal reasons. After he leaves the company, he will serve as a consultant to Radianz.
Under Gilstrap's direction, Radianz's revenues grew year over year to a projected $550 million in 2003. Currently, Radianz's customer count includes 100 providers of data and applications that use IP-based RadianzNet to connect institutions to their services, and 9000 end users worldwide.