Pirum Systems, the leading provider of post-trade market infrastructure technology for the global securities finance industry, has promoted Phil Morgan to be chief executive effective 10 August. Phil joined Pirum in 2016 as chief commercial officer and has worked closely alongside current chief executive Rajen Sheth since then.
Remaining on the board, Sheth will become president and will continue to support Phil and the management team in a range of areas across the business.
Sheth said: “After 17 years at Pirum, I have decided now is time to hand over the reins. I know Phil to be a talented, creative and well-respected individual who will provide great leadership and direction to support our clients and the industry. I look forward to working with Phil and the team and remain very excited about the company’s future. ”
Phil Morgan added “I am very excited to accept this opportunity and takeover the leadership of Pirum as we deliver the next phase of growth. It has been a pleasure supporting Raj throughout my time at Pirum and, given his mentorship through this period, the time is now right to make this transition. These are challenging times for the industry, and I am very confident we will continue to evolve and grow as a business and offer best in class solutions for our clients.”
Julian Masters, managing partner of Pirum’s private equity backer, Bowmark Capital, commented: “It has been a pleasure working with Raj over the last 15 months as he led the business through this key stage of growth. As we planned together when we invested in Pirum, it is now time for Raj to pursue the next phase of his career and for Phil to guide the business through the upcoming period of accelerated product development and evolution.”
Pirum recently launched products to assist clients with exposure management, collateral management and regulatory reporting.