OpenLink Announces Mark Greene to be CEO
OpenLink Financial LLC (OpenLink), the leading provider of cross-asset trading and risk-management solutions for energy, commodity, and financial service companies, today announced the appointment of its new CEO, Mark N. Greene, Ph.D. Dr. Greene becomes a Director of the company effective immediately, and will become Chief Executive Officer on December 19, 2012, after completing transitional responsibilities for Fair Isaac Corporation (FICO), which he left earlier this year. As indicated in July when current CEO Kevin Hesselbirg announced his intention to step down once a successor was appointed, OpenLink has elected Mr. Hesselbirg as Vice Chairman of the Board, effective immediately.
Dr. Greene, 58, is a financial technology veteran with 30 years of global executive expertise at leading institutions including the Federal Reserve Board, Citigroup, IBM, and FICO. He served as FICO's CEO for five years, before leaving earlier this spring. Prior to that, he was Vice President of Financial Services, Sales and Distribution at IBM. He earned his BA at Amherst College and received a MA and Ph.D. from the University of Michigan, all in Economics. He specializes in econometric modelling and advanced analytical techniques.
In announcing this appointment, OpenLink Chairman Brad Henske, a Managing Director of Hellman & Friedman LLC, said, "We are delighted to welcome Mark as OpenLink's new leader. His background in managing large enterprise software businesses, and his deep understanding of analytics, business intelligence, and risk management, make him the ideal person to lead OpenLink's next phase of growth."
Dr. Greene expressed excitement at his new role. "OpenLink is the clear market leader in Commodity/Energy Trading and Risk Management (C/ETRM), and I am keen to contribute to its continued growth. Equally, I am eager to bring my prior financial services and analytic expertise to OpenLink’s capital markets and corporate sectors. These markets continue to seek intelligent value adding solutions to meet their complex and evolving business requirements and present strategic opportunities to deliver robust growth given today's global economic climate. I am thrilled to have the opportunity to build on the strong accomplishments of Kevin and his team, and will seek his assistance to ensure a smooth transition. I look forward to forging close ties to our clients at the upcoming User Conference in Montreal, and to guiding OpenLink's growth in the years ahead as we expand in both industry and geographic coverage."
After 13 years with OpenLink, the last six years as CEO, Mr. Hesselbirg has elected to continue his relationship with OpenLink in his new role as Vice Chairman of the Board of Directors. He noted, “The last decade has been a period of intense growth for OpenLink. A seasoned executive of Mark's caliber will bring fresh energy, experience and ideas to lead the company into its next decade of growth. I look forward to assisting Mark in ensuring a seamless CEO transition, and serving in my Vice Chairman capacity as an active advisor.”
Founded in 1992, OpenLink (www.openlink.com) provides decision support software solutions for transaction lifecycle management. This software encompasses financial and physical cross-asset trading, risk management, related operations processing and portfolio management for commodity, energy and financial services markets and industries globally. The Company is a high growth, private equity-backed global software and services business serving energy, commodities, financial institutions, agribusiness, food & beverage, and corporate customers.
OpenLink’s best-in-class products help clients manage their commodity, energy, and financial instrument trading activities across the entire trading and supply chain lifecycle. Founded in 1992, the company has grown both organically and through strategic acquisitions, and generated pro forma revenue of over $300 million in 2011.
The company services over 500 clients, including a world-class customer base of 12 of the world’s largest commodity and energy companies, nine of the largest financial institutions, and 11 of the largest central banks.
The Company has over 1,200 employees in its 12 global offices on five continents. Based in Uniondale, on Long Island, NY, it has additional offices in New York City, Houston, London, Berlin, Vienna, Toronto, Moscow, Săo Paulo, Singapore, Dubai, and Sydney.
OpenLink has received multiple industry awards and recognition in 2011, including being ranked as the industry leader by Gartner and ranked first in its class by Energy Risk Magazine for Commodity/Energy Trading and Risk Management (C/ETRM) systems.
OpenLink was acquired in October 2011 by leading private equity investment firm Hellman & Friedman LLC.
About Hellman & Friedman LLC
Hellman & Friedman (www.hf.com) is a leading private equity investment firm with offices in San Francisco, New York and London. Since its founding in 1984, H&F has raised, and through its affiliated funds, managed over $25 billion of committed capital, including its current seventh fund, with approximately $9 billion of committed equity capital. The Firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries, including software, internet & digital media, financial services, business & marketing services, insurance, media, healthcare and energy & industrials. OpenLink is H&F’s tenth software investment in twelve years. Representative investments in the software sector include Activant Solutions, Inc., ellucian Incorporated, Intergraph Corporation, Kronos Incorporated and Vertafore Corporation.