Vertical Management Systems, a NewSpring Holdings, LLC platform company, today announced the appointment of Robert Greifeld, former Chairman and CEO of Nasdaq, Inc. to its Board of Directors. VMS is one of the nation’s leading providers of data, financial networking, and account aggregation technology.
“I am pleased to welcome Bob to VMS, as he is a visionary leader in the financial industry. We are honored to have someone of his caliber join our Board of Directors,” said Kevin Rafferty, President and CEO of VMS. “Bob’s extensive experience at the highest levels of the financial services industry will help drive VMS to new heights.”
“I admire VMS for its innovative technology and believe their business is well-positioned for future growth,” said Greifeld. “I know Jim Ashton, Kevin Rafferty, and Bob Ward from my days at SunGard, where I watched Bob and Kevin take STN (SunGard Transaction Network) from a start-up to one of the largest global financial services networks in the world, surpassing $400 billion in total fund assets. When they took the helm at VMS in 2015, I started following the company more closely. I am impressed with what they’ve accomplished in a short period of time, and look forward to working with them again.”
Mr. Greifeld became a substantial minority owner in VMS during NewSpring Holdings’ acquisition of the company in December 2016. Given VMS’ success since the transaction and its prospects for growth, Mr. Greifeld decided it was an opportune time to add value as a board member.
Mr. Greifeld is the Chairman of Virtu Financial and the former Chairman and CEO of Nasdaq. Mr. Greifeld assumed leadership of Nasdaq in 2003, when the company’s primary business was operating one equity market in the U.S. His vision and leadership resulted in delivering incredible client and shareholder value – increasing the company’s market capitalization from $600 million to $12 billion today.
“VMS’ data business was one of several reasons that my partners and I were attracted to VMS,” said Jim Ashton, General Partner of NewSpring Holdings. “The knowledge and experience that Bob Greifeld brings in this area is just what VMS needs as we position the company for significant growth.”
About Vertical Management Systems, Inc. (VMS)
Vertical Management Systems (VMS) is one of the nation’s leading providers of data, financial networking, and account aggregation technology. For 25 years, VMS has designed, developed and hosted accounting and securities process-and-control solutions for the largest financial institutions in the United States. VMS’ core products include an innovative process-and-control solution, a comprehensive data aggregation tool, and a next-generation retirement platform. VMS is a NewSpring Holdings portfolio company. For more information, please visit www.vmsholdings.com.
About NewSpring Holdings
NewSpring Holdings, LLC, NewSpring Capital’s dedicated buy and build strategy, focuses on control buyouts and platform builds, targeting profitable, growing companies seeking a financial partner to better assist them in achieving their goals. NewSpring Capital, based in Radnor, PA., collectively manages more than $1.5 billion of committed capital supporting more than 120 portfolio companies across its growth equity, control buyout and mezzanine debt strategies. Combining deep operating knowledge with financial and investing expertise, NewSpring Capital provides growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to be successful. For more information, please visit www.newspringcapital.com