Creditex names John Grifonetti president and COO

Source: Creditex

Creditex, Inc. today announced that John Grifonetti has been named President and COO.

Grifonetti, who has substantial e-business experience, becomes president at a time of strong growth and expansion for Creditex and for the credit derivatives industry overall.

"We are extremely pleased and fortunate to have John join our senior management team at this important juncture in the business," said Sunil Hirani, CEO of Creditex. "There are major initiatives underway that demand increased senior- level resources, and John will assume a critical role in leading our efforts and helping us continue our role as an innovator and leader in the credit derivatives market."

"I am excited to be working with John again in one of our portfolio companies," said Jonathan Meeks, Principal with TA Associates, a leading private equity and buyout firm which is an investor in Creditex. "John's experience scaling leading e-trading businesses is a perfect match for Creditex. I am certain that Creditex will continue to successfully leverage its strengths and achieve new advances in its e-trading business."

"This is a very interesting time to be part of the premier credit derivatives trading platform," said Grifonetti. "Given the substantial growth in the markets, we are very focused on further developing our e-brokerage business and in continuing a leadership position bringing automation solutions to the market place. There is tremendous industry interest in creating greater efficiencies, and we are working together with market participants to meet those needs."

From 1999 to 2002, Grifonetti was President and COO of Datek Online Holding Corp. with responsibility for day-to-day operations, including trading services and product development. Under his tenure, the business expanded rapidly. Grifonetti played a key role in the merger of Datek into Ameritrade, serving as a Senior Advisor working on the integration of the businesses. Grifonetti joined Datek in 1997 as CFO. Grifonetti worked from 1990 to 1997 at Deloitte & Touche's Securities Group serving large financial services companies.

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