Dr. John Bates has left his position as general manager of algorithmic trading and complex event processing technology provider Apama to become chief technology officer and head of corporate development at Progress Software, Apama’s parent company.
Apama, which Bates co-founded with Giles Nelson, was bought by Progress in 2005. Prior to the acquisition, Bates was Apama’s chief technology officer.
Trading firms use Apama’s complex event processing technology to develop algorithms and high-frequency trading applications, while execution venues and regulators employ it for functions such as market surveillance. Customers include brokers J.P. Morgan, Deutsche Bank and UK regulator the Financial Services Authority.
In his new role at Progress, Bates will be responsible for creating and evolving the firm’s business strategies, acquiring companies to support those strategies, communicating the value of Progress’s strategy and solutions to customers, partners and other constituents, and driving product synergies across the company.
Progress said Bates is one of the driving forces behind the emergence of complex event processing technology, and credits him with pioneering the technology’s commercial use in business applications.
“Over the past few months, we have been redefining Progress Software’s business strategy to focus on key growth opportunities in the enterprise software market,” said Richard D. Reidy, president and CEO of Progress, in a statement. “In particular, we are focused on delivering to our customers’ industry-leading solutions, which are powered by new capabilities in business event processing, data services, and business transaction management. This means having the right product portfolio and acquisition strategy. In achieving this goal, John Bates’ leadership will be critical.”