Simon Paris, who currently serves as Finastra’s deputy CEO, will take over as CEO from Nadeem Syed in what the fintech company has called a “planned succession process”.
Syed is joining Finastra owners Vista Equity Partners as an operating principal, and will continue to serve on Finastra’s board of directors.
In his role as deputy CEO, Paris has been responsible for driving all of Finastra’s go-to-market operations, including sales, marketing, and partner relations and has overseen significant growth in the company’s market traction and global footprint.
“He advocated the shift to a cloud-based model for all Finastra solutions and is spearheading the company’s transformation from a solution to a platform organisation,” a company statement says.
“A once-in-a-generation transformation is taking place in the financial services industry and Simon has the vision, leadership and experience to lead Finastra through this evolution,” says Robert Smith, founder, chairman and CEO of Vista Equity Partners.
“Over the past six years, Nadeem has built the company into a leading player in the fintech industry, and Simon, with his understanding of how open platform technology can change the face of financial services, will take Finastra to the next level as a true platform company,” he adds.
During Syed’s tenure, he more than doubled the company’s revenue, led the successful merger with D+H and increased the customer base from 2,000 to more than 9,000 globally.