Solidatus has announced David Northmore as Vice President of Sales and Chris Crang as Vice President of Marketing as the data management technology firm plans to further expand across the globe.
Northmore joins Solidatus following eight years as Area VP at MarkLogic and will focus on developing new processes and scaling the team as the business expands both domestically and overseas while maintaining its established reputation for fuelling positive client outcomes.
His 25 years career in the data industry, includes senior management roles at HP Software, Computer Associates, and EMC Documentum.
Crang will be focusing on developing and driving the Solidatus brand as the go-to provider of data management solutions as the VP of Marketing. He previously held roles as the Head of Corporate Marketing at Worldpay UK, where he established their marketing function for enterprise business and saw the company through to IPO.
For over 15 years, Chris Crang held management and leadership roles in both UK and multinational organisations, including as Director of Customer Marketing and Strategy at American Express.
Northmore and Crang will support each other and report into Solidatus’ co-founder, Philip Dutton, as the company looks to quickly expand internationally following its successful Series A funding round and a 400% growth in employees.
Philip Dutton, co-founder of Solidatus, said: “These hires mark an inflection point in our evolution, as we continue to rapidly scale and expand into new territories following our most successful year to date.
“Attracting the talents of David and Chris reinforces our ambition and commitment to meet the on-going complex needs of clients, as the chosen data management tool for regulated and data-rich organizations. David and Chris both have a firm belief in the transformative difference we can make for our clients, and their combined exceptional expertise make them the perfect fit to drive Solidatus into the next phases of our journey.”
David Northmore, VP of Sales at Solidatus, commented: “I have a long-term affinity for Solidatus, having worked with several of its clients and partners throughout my career. We have built an enviable reputation for delivering value to our clients time and time again. Our rapid growth is a testament to this and our singular focus on positive customer outcomes will remain at the heart of everything we do.”
Chris Crang, VP of Marketing at Solidatus, added: “Solidatus’ ability to fundamentally reimagine how data can be used attracted me to the role, as fresh approaches like theirs are so vital to businesses facing complex data burdens. The team has done an exceptional job in getting the brand to where it is today, and Solidatus now stands at an exciting point in its development. As we enter this next phase of growth, I look forward to developing the Solidatus story as market needs evolve, underlining our unique ability to solve complex data problems.”
Solidatus has recently appointed ex-HSBC Lorraine Waters as Chief Data Officer, where she will champion the platform and engage with key stakeholders including current and future clients, regulators, and strategic partners.
She will also develop the product to meet stakeholder needs, market opportunities, and upcoming challenges, as well as support the business in the areas of data privacy, ESG, and financial crime risk management.
Ms. Waters joins Solidatus from HSBC, where she played a number of roles, including Chief Data Officer for Global Compliance, Financial Crime and Regulatory Compliance, Interim Chief Data Officer (US), and Group Head of Data Governance and Deputy Group CDO.
Solidatus will leverage her unrivaled knowledge of facing data complexity issues within a large multinational organization, which also includes her experience as Global Head of Data Management at RBS, and sitting on many industry forums and advisory boards, such as the EDM Council.
She was awarded CDO of the Year 2018, Data Management Practitioner of the Year in 2019, and was ranked in CDO Magazine’s Global Data Power Women 2020.
State Street has revealed that regulation is driving firms to outsource data management: over half of institutional investors plan to partly or fully outsource their data management over the next three years, according to a 2018 survey.
While 60% of the survey participants plan to outsource data management over the next three years, 52% are currently conducting all of their data management functions in-house. This number is expected to fall to 36% by 2021, with 15% aiming to fully outsource this function to an external partner.
Explosion in data complexity has fundamentally changed the way asset owners and asset managers compete and operate. Today’s investment climate requires an overwhelming amount of data, and as the lines between front, middle and back office continue to blur, smarter data management is absolutely essential for effective performance and recognizing growth opportunities.
More than half of survey respondents (57%) cite the driver behind this change in data management as demands from regulators. Increasingly complex regulatory requirements regarding data management are the main driver for the new wave of outsourcing, according to 57% respondents. The progressive importance of data management for institutional investors is also driving the trend.
30% of respondents state that the incorporation of new information insights or alternative data into their investment process will be one of the strongest opportunities to help increase assets for their firm.
The implementation of a better data strategy has improved the alignment of 46% of respondents’ investment and risk teams data and analytics capabilities have become their most important competitive advantage for 22% of those surveyed.