Former President and CEO of SunGard to help bring Big Data Analytics to Financial Services Market
NASHVILLE, September 6, 2012 – Digital Reasoning™, the leader in unstructured data analytics at scale, is pleased to announce that Cristóbal Conde has joined its board of directors. As a director, Mr. Conde will advise the company as it expands from serving the government and U.S. intelligence agencies and moves into the financial services market.
“I was looking to support the right company in the unstructured data space. So, after months of research and getting to know the company and its senior leaders through the FinTech Innovation Lab, I decided to join Digital Reasoning’s board,” said Mr. Conde.
“I’ve been in information technology since the late ’70s when you had to build your own database manager. When companies like Sybase and Oracle developed commercial database managers – they made sense of structured data and allowed thousands of applications to be built on top,” said Mr. Conde. “There is a pressing need to do something similar in unstructured data, and I believe Digital Reasoning is the company best positioned to do this.”
“We are very pleased to have Cris join our Board of Directors. As an industry leader in Financial Technology and a CEO of a global Fortune 500 software and services company he brings an incredible amount of experience in the financial services and technology markets. His vision, integrity, and drive to improve the world around him also deeply aligns with our company’s values and mission. So, as we write the next chapter of our company, Cris will be a vital part of our team in building the industry leader in automating understanding of unstructured data for the enterprise,” said Tim Estes, CEO of Digital Reasoning.
Mr. Conde stepped down as SunGard’s president and chief executive officer in May 2011, a post he had held since 2002. Previously, he headed up SunGard’s Trading Systems division, which he started in 1990. At the time of his departure, SunGard had revenues of $5.6 Billion, employed 26,000, was ranked #380 on the Fortune 500 list, and was the largest privately-held business software and IT services company in the world.
He is a senior advisor to TPG Capital, Providence Equity Partners and the Executive Chairman of True Office. He serves on the boards of Massachusetts Mutual Life Insurance Company (MassMutual), the College of Mount Saint Vincent, and Business Executives for National Security (BENS). He is a partner at the Partnership for New York City, a member of the Centennial Society of The Economic Club of New York, and a member of the World Business Council for Sustainable Development (WBCSD).
The FinTech Innovation Lab is one of many efforts to help New York maintain its status as the world financial capital, in this case by investment in the next generation of financial technology companies.
Digital Reasoning and five other companies were selected from more than 70 applicants for the twelve-week program, which provides selected companies an opportunity to refine and beta test their cutting-edge financial technology products. In addition to having access to exchanges, clearing and settlement agencies, data providers and regulatory bodies, the FinTech Innovation Lab provides the selected entrepreneurs access to and feedback from potential customers and funders.