Source: Mellon Financial
Mellon Financial Corporation (NYSE: MEL) today announced the formation of a new management team for its Eagle Investment Systems subsidiary that includes Lou Maiuri, a senior executive in the investment technology industry, rejoining the organization as its new chief executive officer.
In addition, David Palten, current chief executive officer, will become chairman when Maiuri rejoins the organization in October. Also, effective immediately, John Lehner is promoted to president of Eagle, a global provider of financial services technology.
"We have tremendous confidence in Eagle's new management team. Under their leadership, Eagle is better positioned to grow its market share and be a key component to the growth strategy of Mellon's asset servicing businesses," said John L. Klinck Jr., Mellon vice chairman. "Lou has a proven track record of being a key contributor to the growth and success of several organizations. In rejoining Eagle, he will work with Dave and John to integrate the strategic vision, gain competitive advantages through new technology-based products and services, and sustain marketplace differentiation.
"For the past 15 years, Dave has helped direct Eagle to its position as a leading provider of investment software solutions. We are grateful that he is continuing to provide his guidance in his new challenging role within the organization. We also recognize John for his many contributions. Under his guidance, Eagle products continue to have high customer satisfaction and consistent revenue growth in the marketplace," Klinck added.
Maiuri, 41, who has some 20 years of experience building, delivering and servicing investment management technology products to the global market, originally joined Eagle in 1996 as a partner. During his prior tenure at Eagle, he was responsible for the development of the Eagle PACE product, including overseeing the build-out of its performance measurement and attribution capabilities. Maiuri also led the professional services group to substantial growth and success. He had been promoted to chief operating officer in 2002. After graduating from American International College, Maiuri was employed at Computer Partners and State Street Bank. He most recently was with Fidelity.
Palten, 51, an Eagle co-founder, was named chief executive officer in August 2003. In his new role, he will continue to report to Klinck and develop corporate strategies that focus on expanding Eagle's global business.
In addition to his current responsibilities which include, global sales and marketing, Lehner, 40, will now be responsible for international operations, product management and its services teams, including Eagle Access, Eagle's ASP business, client relations, training and global professional services. He has nearly 20 years of experience in the financial services industry and joined Eagle in 2000 to head up global sales and marketing. During that time, Eagle's client base has more than doubled and Lehner was instrumental in growing Eagle's international business, which included establishing Canadian and European offices. He will report to Maiuri in his new position.
"Eagle's strong growth has created more opportunities for positions at all levels. We have never been in a better financial position, and we intend to capitalize on our momentum by aggressively increasing the penetration in our target markets," Palten said. "With these announcements, we have a strong product- and client-focused team in place to maintain our growth levels and achieve global dominance in the financial technology solutions space. The entire organization is excited about Lou's return and John's promotion. Their business savvy and passion for Eagle will make this an easy transition."