ELECTRA INFORMATION SYSTEMS ANNOUNCES NEW ADDITIONS TO SALES TEAM
Electra Information Systems Creates a New National Accounts Sales Organization to Expand Sales Reach
September 9, 2008 – New York, NY - Electra Information Systems, a leading provider of reconciliation, trade automation and settlements solutions, today announced the creation of a new national account sales organization and the expansion of its sales management team. This move, part of Electra’s growth strategy, will further the company's significant leadership position within the financial technology market and enable it to better focus on meeting the unique needs of its customers and partners.
Under this plan, Electra Information Systems has created two new National Accounts Manager positions within its sales organization. Electra has recruited John Condon and Michael Mollenkamp to fill these two newly created positions.
"John and Mike have extensive knowledge of the post trade settlement and reconciliation markets and will strengthen our ability to serve our growing global customer base,” said Ian Danic, Managing Director of Electra. “As Electra continues to grow, it is critical that we expand our sales team with proven, high-caliber executives. John and Mike’s combination of experience and drive will make them a valuable addition to the Electra team and we are excited to bring them on board.”
Condon brings more than 20 years of major account and sales management experience to his new role at Electra. Before joining Electra, Condon was VP and National Sales Manager at Merrill Lynch and VP at eCiti's Crossmar, responsible for the Securities Valuation Service and Northeast regional sales, with a focus on financial services firms and Fortune 500 corporations. He has been recognized both at Merrill Lynch and Citibank as one of the company's top-performing managers worldwide. Condon studied at St. Francis College and City University of New York and received his bachelor's degree in Accounting and an MBA in Finance.
Mollenkamp joins Electra with more than 20 years of sales experience in the investment management industry, including a focus on financial software for the past decade. Before joining Electra, he worked with a number of investment technology vendors including SmartStream, FMC, and SunGard Portfolio Solutions. Prior to that, he spent more than 10 years working in various sales and marketing positions directly for institutional money managers. Mollenkamp holds a bachelor's degree in Economics from Stanford University.
About Electra
Electra Information Systems, Inc. is an industry innovator in providing solutions for Data Aggregation, Reconciliation and Settlements. Electra brings unparalleled expertise in delivering highly effective, easily implemented solutions that are used by 40% of the top 25 investment management organizations and has become a market leader in providing reconciliation, trade automation and settlements solutions. Electra processes detailed information on over 1.5 trillion dollars (US$) in cash and securities holdings daily.
Electra customers cover the breadth of the financial services industry, including Investment Managers, Hedge Funds, Insurance Companies, Custodial Institutions, and Banks. Founded in 1998, Electra is headquartered in New York City. For more information about Electra’s products and services, visit www.electrainfo.com.
Media Contacts:
Ian Danic
212-696-1595
idanic@electrainfo.com
