Itiviti, the leading global provider of multi-asset trading technology and financial infrastructure, today announced that Torben Munch, Chief Executive Officer, has decided to retire and will step down from his position at the end of the year.
Torben recently led the successful acquisition of ULLINK and integration of the Itiviti and ULLINK businesses. Richard Bentley, Itiviti’s Chief Product Officer, has been appointed Interim CEO, effective January 1, 2019. The Board of Directors will initiate a search process for a permanent CEO immediately.
“Under Torben Munch’s adept leadership, Itiviti has evolved from a diverse group of companies into a global, full-service technology and infrastructure provider for the capital markets,” says Per E. Larsson, Chairman of the Board, Itiviti. “We credit Torben with building a strong team and developing a solid, coherent offering aligned with market requirements and customer needs. Following the merger with ULLINK, we are perfectly positioned to leverage our enhanced capabilities with increased focus on growth, reinforcing Itiviti as a global partner for the capital markets industry.”
The Board of Directors has appointed Richard Bentley, Itiviti’s Chief Product Officer, as Interim CEO, effective January 1, 2019. Richard joined ULLINK in 2014 to run Product Strategy and, post-merger, led the development of Itiviti’s unified corporate strategy.
“During the recent, intensive phase of integration, I have come to appreciate the size of the opportunity available to the new Itiviti and the pool of highly talented people we have in the company to help capture it,” says Richard Bentley. “I am committed to harnessing our collective capabilities to deliver on our strategy and serve our outstanding customers with the solutions and support they require. These are exciting times for Itiviti.”
Per E. Larsson adds, “As Torben has elected to leave the company after more than 25 years in the industry, I want to share the Board’s appreciation for his significant contributions. On the foundation he built, we are now entering a new phase with enthusiasm for growth and for extending our role as a strategic partner to our customers. We will help them evolve their trading operations to ensure they can fully capture new opportunities. The Board has strong confidence in Richard, his leadership and vision, in leading the company forward in the next phase for Itiviti.”