News & Articles

DST Systems to acquire assets of Finix Business Strategies and Finix Converge

Kansas City, MO - DST Systems, Inc. (NYSE: DST) has signed a definitive agreement to acquire, through a newly formed subsidiary, the assets of Finix Business Strategies, LLC, a financial services consulting firm with extensive brokerage and technology expertise. A DST subsidiary will also acquire the assets of Finix Converge, a technology firm that develops and distributes an enterprise social networking and media platform to enable firms to connect and collaborate with their constituents more effectively online. The transaction is expected to close on April 29, 2011. The terms of the agreement were not disclosed.

In connection with this acquisition, DST has created DST Brokerage Solutions, a technology service company committed to fundamentally impacting the way the brokerage market conducts business. By combining Finix Business Strategies' extensive knowledge and brokerage expertise with DST Systems' breadth and depth of technology and services, DST will address broker-dealers' unique challenges through an expanded suite of products and solutions. This move further emphasizes DST's commitment to the brokerage marketplace and reinforces the strategic position of DST's subaccounting business.

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Finix Appoints Business Development Principal

Baltimore, MD - Finix Business Strategies announced today the appointment of Harold Westervelt to head Business Development for the firm. In this role, Mr. Westervelt will have responsibility for coordination and development of the sales and marketing efforts of the organization. In addition to these responsibilities he will also be the head of Finix's Sales & Marketing consulting practice.

“Finix Business Strategies has become a strong partner and valued resource for a number of firms in the financial services industry and I look forward to helping enhance Finix's existing practices as well as expanding into new areas within the financial services market,” said Westervelt.

Mr. Westervelt comes to Finix Business Strategies with years of proven experience in the financial services industry providing solutions for both large and small firms. Included in Mr. Westervelt's background is over 12 years of Sales Management experience with Thomson Reuters and Standard & Poor's.

“Finix Business Strategies continues to experience a very high level of growth and client engagement and we are confident that Harold will be a significant contributor to the future success of Finix Business Strategies,” said Mike Abbaei, Managing Partner of Finix Business Strategies.

Converge hires new Vice President of Business Development

Baltimore, MD - Converge, a Maryland-based company, announced that it has hired Shaun Callahan as its new Vice President of Business Development. In his new role Mr. Callahan will be responsible for all aspects of Sales,Marketing and Business Development for Converge.

“Our current clients are giving us great feedback on the value we are creating for them.” said Mike Abbaei, Chief Executive Officer of Converge. “We are thrilled to have Shaun as part of our team. With his extensive experience, Shaun will be able to increase our awareness in the market and establish key partnerships with the channels that will help us provide meaningful soulutions for an even greater number of organizations.”

A 1985 graduate of the United States Naval Academy, Mr. Callahan brings over two decades of technical sales and sales management experience to Converge. Most recently as Chief Involvement Officer of Groupsite.com where he oversaw all major account activity as well as establishing and maintaining all partner relationships. He has also played key sales roles at EntreQuest, Argent Trading, Checkfree and Usinternetworking.

Consumers, Clients, Businesses, and the Evolution of Corporate Communication

The “Net Generation”, as defined by PriceWaterhouseCoopers, refers to “16- to 29-year-olds who were first to grow up immersed and fluent in mobile and interactive technologies that allow individuals to connect to a global community.” As the “net generation” enters the workforce in the next 1-8 years, consumers, clients and businesses alike will be introduced to newer forms of instantaneous communication. This workforce and its expertise in these emerging forms of communication will create a new standard of contact between consumers, clients, and businesses. This report aims to investigate that assumption.

Firm prepares for New Levels of Growth and Opportunity with Ian Mahaney

Baltimore, MD - Converge, a Maryland-based company, announced that it has hired Ian Mahaney as its new Chief Technology Officer. In his new role Mr. Mahaney will be responsible for all aspects of technology, product development and professional services for Converge. “We are seeing a very positive response and interest in our technology from many entities in different markets” said Mike Abbaei, Chief Executive Officer of Converge. “As a new company we are very encouraged to see our vision crystallizing in a short period and we are thrilled that Ian will be joining the Converge team as we continue to expand our offerings.”

Mr. Mahaney brings more than a decade of Information Technology and internet management to Converge. Most recently as Technical Services Director of Millennial Media, he built and managed the technology organization from the ground up including Engineering, Management Information Services and Quality Assurance. Prior to that, he worked with Tribeca Tables as the Director of Information Technology. He also played a key role in the sale of Tribeca Tables prior to his departure. In addition, Mr. Mahaney spent more than 5 years with Advertising.com as a Senior Systems Engineer.

Converge releases new Social Business Software

Baltimore, MD - Converge, a Maryland-based company and an affiliate of Finix Business Strategies, released it's social business software Converge, a function rich, sophisticated platform that allows users to interact seamlessly, exchange ideas, and share information in a secure, web-based environment. “Converge is Finix's first venture company and we are excited about this first step in what is a very bright future,” announces Mike Abbaei, Finix Business Strategies' Managing Partner. Visit www.whyconverge.com for more information.