has added two members to its board of directors. Thomas H. O'Brien is former CEO and chairman of The PNC Financial Services Group, Inc. and Dr. Michael Zisman is a former vice president of Corporate Strategy with IBM.
Confluence, a leader in automated data management solutions for the global investment management industry, announced today that it has named Thomas H. O'Brien and Dr. Michael D. Zisman to its Board of Directors. Mr. O'Brien is a former Chief Executive Officer and Chairman of The PNC Financial Services Group, Inc. Dr. Zisman is a former Vice President of Corporate Strategy with IBM.
"We are pleased that Thomas O'Brien and Michael Zisman have accepted our invitation to join our board, and we look forward to their participation and guidance," said Mark Evans, Confluence's President and Chief Executive Officer "Their deep leadership experience in financial services and technology, respectively, will benefit our customers as we continue to help the global investment management industry improve efficiency and service through automation."
"Confluence is an important partner to financial services companies addressing the new reporting requirements that accompany increased regulation. The firm's strong market penetration, understanding of all facets of fund administration, and worldwide presence position the company for continued growth," said Mr. O'Brien.
"Confluence has established an impressive technological infrastructure to meet investment management companies' critical fund administration needs," said Dr. Zisman. "The company's commitment to innovation and operational excellence afford Confluence the scalability to grow to meet the increasing demands of the global investment industry."
Thomas O'Brien held several leadership roles with The PNC Financial Services Group, one of the largest diversified financial services companies in the United States. He was elected President and Chief Executive Officer in 1985, and retired as the Chief Executive Officer of PNC in May 2000. He was also named Chairman in 1988, retiring in May 2001.
Before leading The PNC Financial Services Group, Mr. O'Brien was Chairman and Chief Executive Officer of PNC's Pittsburgh National Bank. In addition to serving on the Confluence board, he is a member of the boards of BlackRock, Inc., Verizon Communications, and Hilb Rogal & Hobbs Co.
Dr. Zisman spent nine years at IBM, joining the company in 1995 when IBM acquired Lotus Development Corporation. Before retiring from IBM in 2004, he was Vice President of Corporate Strategy. Previously, he was General Manager of Storage Software for the IBM Storage Systems Group, as well as Vice President of Emerging Business Development. Prior to that, Dr. Zisman served as CEO of Lotus Development Corporation, shortly after Lotus was acquired.
Before joining IBM, Dr. Zisman was Senior Vice President of the Lotus Communications Products Group. He joined Lotus in 1994 after the Company's acquisition of Soft-Switch, Inc., a software firm he founded in 1979 and headed until that acquisition.
He is currently Chairman of the Board of Directors of ICG Commerce, and a board member of Metastorm, Vcommerce, Dataupia, and CashEdge, as well as Confluence.
Founded in 1991, Confluence is the global investment management industry's leading provider of automated data management solutions. Confluence helps investment management companies gain unprecedented control by automating every step of the fund administration process—including the collection, creation, confirmation, and delivery of investment product data while maintaining control of the process. Results are lower costs, reduced risk, decreased reporting turnaround times, and the scalability to automate more processes without additional resources. Confluence's solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. Unity™, the Confluence platform, addresses a wide range of problems from performance measurement to customized reporting for a full array of domestic and international managed investment products, including mutual funds, funds of funds, collective funds, separate accounts, and variable products, as well as hedge funds and other alternative investments. Major fund companies such as Evergreen and Merrill Lynch and service providers like JP Morgan, PFPC and Bank of New York rely on Confluence. Confluence, headquartered in Pittsburgh, PA, serves the international fund industry with key locations in London and Luxembourg. For more information, visit www.confluence.com or email email@example.com.
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