Sophis, a provider of cross-asset, front-to-back risk and portfolio management solutions, has appointed David Krell, founder and former CEO of the International Securities Exchange (ISE) to its board. Krell, the current chairman of the ISE and director on the board of Deutsche Boerse, will provide valuable strategic advice as Sophis looks to consolidate and grow its share of the North American market.
Prior to founding the ISE, Mr. Krell was Chairman and co-founder of K-Squared Research, a financial services consulting firm. He also worked at the New York Stock Exchange from 1984 to 1997, where he managed marketing, systems and new product introductions for the Options and Index Products division. Prior to this, he worked at the Chicago Board Options Exchange and at Merrill Lynch. Krell was also formerly an adjunct professor at Rutgers University Graduate School of Management and at the Graduate School of Baruch College. He has also taught, coordinated and directed numerous seminars and workshops at the New York Institute of Finance. "We are delighted to welcome David to the firm at such an exciting point in our development in North America," said Pascal Xatart, CEO of Sophis, in a press release. "We are committed to expanding our business in the US and David has the skills and experience to help us to achieve our objectives. His appointment is the latest step towards implementing our strategy to increase our share of the North American risk technology market, which is estimated at $5.9 billion for 2008 by Chartis Research," he said.