Edelstein is a seasoned veteran in the financial services industry and has a keen understanding of financial institutions' business, communications and technology requirements. He joins Radianz from E.M. Warburg Pincus & Company, Inc. where he served as entrepreneur in residence. Before that, he was president and CEO of Thomson Financial ESG which he founded and later merged with the Depository Trust and Clearing Corp.'s Tradesuite business to create OMGEO, the industry utility for straight-through processing. He also has held senior positions at financial services and technology firms such as Dow Jones Telerate, Inc. and Knight-Ridder, Inc.
Commenting on the transition, Radianz Chairman David Ure said, "I speak for Reuters CEO Tom Glocer and Equant's President and CEO Didier Delepine in saying that we are delighted to have secured someone with Howard Edelstein's track record and experience as Radianz's new president and CEO. We believe he has the skills needed to build rapidly upon Radianz's leadership position in providing network, hosting and voice services to institutions worldwide.
"At the same time, we also wish to recognize Doug Gilstrap's leadership in turning the Radianz concept into a viable, industry-leading global company."
Gilstrap and his family are moving to Houston, Texas for personal reasons. After he leaves the company, he will serve as a consultant to Radianz.
Under Gilstrap's direction, Radianz's revenues grew year over year to a projected US$550 million in 2003 due to Radianz successfully connecting a broad range of financial institutions to its global financial extranet, RadianzNet. Currently, Radianz's customer count includes more than 100 providers of data and applications that use RadianzNet to connect institutions to their services, and more than 9,000 end users worldwide that use RadianzNet to access those services.
Gilstrap said, "I will leave knowing that Radianz has a solid foundation from which Howard Edelstein will be able to take the company to new heights. Radianz has a strong management team, growing revenues and the confidence of thousands of financial institutions worldwide, which makes the company the industry standard for financial communications. Radianz is well positioned for the future."
Edelstein said, "I am tremendously excited about joining Radianz at this point in its history. Radianz clearly has a proven business model and a very capable and dedicated team. I look forward to the opportunity to lead Radianz to even greater success in the future."
