Paladyne Systems Expands in Europe by Launching London Representative Office and Hiring Senior Management

Paladyne Systems, Inc., a leading provider of alternative investment solutions, today announced its expansion into the European market with the opening of a London representative office to be headed by David Simmonds, formerly from Misys Global Managed Services.

“The opening of Paladyne Systems Europe Ltd. is a significant step forward in Paladyne’s global expansion plans and is in response to the growing demand for our PALADYNE™ suite of products—the industry’s first hosted and integrated front-, middle-, and back-office solution for the hedge fund industry,” said Sameer Shalaby, CEO Paladyne Systems, Inc. “We are pleased to announce the appointment of David to head the European office in London and to lead our expansion into the European marketplace.”

The PALADYNE™ suite of products is an integrated front – to back-office hedge fund solution offered either as a local installation or as a full-service application service provider (“ASP”) offering. The PALADYNE suite supports the hedge fund industry needs for trading, operational management, data warehousing, custom reporting, reference data management, and portfolio accounting through Paladyne’s partnership with Advent Software to host and distribute Advent Geneva™.

As Regional Director, reporting to Paladyne’s President Scott Alderson based in New York, Mr. Simmonds will be responsible for building the Paladyne brand in the London and European markets. Mr. Simmonds’ has over 20 years of experience in sales, marketing and new business development for financial markets institutions and technology vendors. He has a deep knowledge of pre-trade, trade and post-trade processes and of the operational problems that exist in the front, middle and back-offices. Most recently with Misys and previously Eagle Investment Systems (Mellon Bank), he has held senior positions at AFA Systems (Microgen), Prohevo Limited, Financial Technologies International (Goldensource), Bloomberg, and Dow Jones Telerate.

“We are very pleased to welcome David to the Paladyne team. The addition of his extensive experience in client services and sales for financial and buy-side technologies in Europe will be beneficial to the success of this expansion,” said Scott Alderson, President, Paladyne Systems. “David will be an integral part of building the London office and will be responsible for sales and marketing, staff recruitment, client service, as well as liaison with the New York headquarters.”