Progress Software Appoints Recognized Financial Services Industry Expert, Robert Stowsky
BEDFORD, Mass.--(BUSINESS WIRE)--Mar. 17, 2009--
Progress
Software Corporation (NASDAQ: PRGS), a global provider of
application infrastructure software used to develop, deploy, integrate
and manage business applications, today announced the appointment of
Robert Stowsky as Director, Financial Services Sector. Stowsky’s
appointment stems from Progress’ initiative to broaden its position in
the financial services industry with its major product lines. In this
role, Stowsky will focus on developing multi-product solution strategies
that enable customers in the financial services industry to keep their
information technology aligned with a rapidly changing business
environment.
Stowsky is a 20 year veteran in the financial services industry well
known for his thought leadership in applying technology to capital
markets. He is Co-Chair of the FIX Protocol Ltd – ISDA/FpML
Collaboration Working Group and is a member of the ISDA/FpML
Coordination Committee as well as the FIX Protocol Global Technical
Committee Governance Board. In particular, Stowsky is known for his
expertise relating to buy-side OTC derivatives operations and
technology. He is a member of both the International Securities
Association for Institutional Trade Communication (ISITC) OTC
Derivatives Working Group and the Securities Industry and Financial
Markets Association (SIFMA) Asset Managers Forum’s Derivatives
Operations Committee. He was a leading contributor to the financial
messaging standards Investment Roadmap for FIX, ISO and FpML. Most
recently Stowsky has been named a member to the ISO 20022 Technical
Support Group.
Hub Vandervoort, CTO of SOA Infrastructure, Progress Software, said:
“Robert’s experience with sell-side and buy-side, as well as front,
middle and back office operations, provides a unique understanding of
these companies, as he’s had insight into all phases of the investment
and trading lifecycle. This perspective, alongside his experience with
industry standards and protocols, will extend Progress’ place as a key
player in this industry.”
Stowsky continued: “The financial services sector faces increasing
challenges in managing risk while bringing new products and services to
market. Progress has innovative products that can provide critical
integration and monitoring functionality required by financial services
firms to optimize their business and decrease risk. I look forward to
working with Progress to achieve the full business potential for their
products.”
Prior to Progress, Stowsky co-founded Brook Path Partners, a leading
consulting firm focused on trade lifecycle operations improvement and
process automation. His clients included some of the world’s leading
investment managers, broker/dealers, exchanges and service providers to
the investment and securities industries.
Progress® products are used by leading financial institutions like J.P.
Morgan, ING, Deutsche Bank, Credit Suisse and the Intercontinental
Exchange.
About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) provides application
infrastructure software for the development, deployment, integration and
management of business applications. Our goal is to maximize the
benefits of information technology while minimizing its complexity and
total cost of ownership. Progress can be reached at www.progress.com
or +1-781-280-4000.
Progress is a registered trademark of Progress Software Corporation
in the US and other countries. Any other trademarks contained herein are
the property of their respective owners.
Source: Progress Software Corporation
Progress Software
Judy Mintz, 781-280-4286
jmintz@progress.com
or
LEWIS
PR
Richard Young, 617-226-8842
progresssoftware@lewispr.com
