New York (September 21, 2005) â Howard Edelstein, President & CEO of BT Radianz, the leading global provider of financial services connectivity, has been selected to head a new business unit within BT Global Services focused on serving the global financial industry. The new unit will combine BT Radianz with BT Trading Systems and BT Global Financial Solutions into a single market-facing vertical designed to be best of breed in the financial services industry. Edelstein will serve as President & CEO of BT Global Financial Services.
Andy Green, Chief Executive Officer of BT Global Services, said: "The decision to launch this new vertical flows out of the strategic thinking that lay behind our recent acquisition of Radianz. Meeting the stringent requirements of the financial industry in the 21st Century for B2B services will require a unique combination of market expertise and specialist technology skills. The investment in BT Global Financial Services will build further on the strong position of BT Radianz within the sector and create a single point of contact for BTâs clients within the financial industry."
BT Trading Systems is one of the worldâs largest suppliers of financial trading room systems. More than 60,000 traders in over 1,400 trading rooms across 51 countries rely on BTâs sophisticated voice applications and integration technologies. BT Global Financial Solutions provides multi-million dollar IT outsourcing services to nearly 50 financial institutions worldwide.
Larry Tabb, Founder & CEO of Tabb Group, said: "This announcement should not be a surprise. BT has a very significant global financial markets business and looking for a strong leader is a natural extension of that focus. Howard has years of industry experience and a very successful track record. Since joining Radianz two years ago, he's extended the business, raised its visibility, and built a successful business whose model is changing the way the industry thinks about connectivity and network-based services."