NEW YORK--(BUSINESS WIRE)--RIMES Technologies, the leading provider of managed data services for the buy-side, has today announced it has hired Diarmuid O’Donovan as its new Chief Operating Officer. Mitesh Modi, RIMES’ former COO, takes up the position of Chief Financial Officer.
Mr. O’Donovan has spent his entire career within the securities services and asset management industry, and joins RIMES from Legal & General Investment Management (LGIM), where in his role as Chief Data Officer he was responsible for delivering an enterprise-wide information management capability. Prior to working at LGIM, Mr. O’Donovan was Global Head of Data at UBS Asset Management where he was a senior member of the middle and back office management team responsible for pricing, benchmarks, corporate actions and data management. He also held several senior roles during a 10-year career at JPMorgan.
Christian Fauvelais, CEO of RIMES, commented: “Diarmuid’s extensive experience of data-focused operations management makes him the perfect choice to be our new COO. Diarmuid brings with him unrivalled knowledge of buy-side data management, gained in his experience working for some of the largest brands in the industry. This knowledge and expertise will provide invaluable support in ensuring RIMES remains the buy-side’s leading managed data services provider”.
“RIMES’ approach to data management is unrivalled in the industry’, said Diarmuid O’Donovan. “It’s a truly exciting company with a lot to offer to the buy-side. I look forward to helping the company build on its success and deliver the highest levels of service and support to our clients”.
With Mr. O’Donovan taking up the role of COO, Mitesh Modi moves to the position of CFO. Mr. Modi had been COO as RIMES since 2010. Prior to that, he held the position of COO and CFO at NewFinance Capital Asset Management. Mr. Modi has also held senior positions at Morgan Stanley and Merrill Lynch. He is a Chartered Accountant (UK) and holds a Bachelor of Economics and Accountancy degree from City University London.
“Mitesh’s deep knowledge of RIMES’ business as well as his financial acumen make him highly qualified to take on the CFO role“, said Christian Fauvelais. “Drawing on his extensive business experience Mitesh will be instrumental in helping us chart a course to success in what is a very complex and fast-moving industry. I am eager to work with Diarmuid, Mitesh and rest of the RIMES executive team to continue to scale our highly innovative business for long term operational and financial success”
Mr. Modi commented: “RIMES has built an exceptionally strong platform for growth, and its market proposition is unrivalled. While today’s markets are more volatile than ever, there are also huge opportunities for forward-thinking and agile companies like RIMES. I relish this chance to help RIMES achieve further growth and exploit fully the market opportunities on offer.’
RIMES is a buy-side specialist that truly understands the data management and compliance challenges faced by its clients. It serves over 300 asset managers, owners and servicers in 40 countries including 60 of the 100 largest global asset managers and 9 of the 10 largest custodians by TAUM.