Tervela, a developer of data messaging systems, named Robert A. Cramer CEO on Wednesday. Cramer succeeds J. Barry Thompson, Tervela’s founder, who takes over as chief technology officer.
“Tervela gives financial services firms the means to address debilitating message volume growth,” says Thompson. “With deployments at some of the world’s most demanding organisations, we are now ready to move to the next phase of business growth," he adds.
Cramer was previously CEO of LiveVault, a software provider. LiveVault was acquired by Iron Mountain in 2005. Prior to that, Cramer served as CEO of FirstSense, which was acquired by Concord Communications. Cramer also held senior sales and marketing positions at Oracle, AT&T and Ingres.
“Messaging volumes show no signs of abating on Wall Street,” comments Cramer. “This is a team backed by investors and a founder who saw an opportunity to tackle a serious challenge facing the global financial services markets,” he continues.
Tervela recently released a hardware-accelerated messaging platform that it says gives latency-dependent organisations, including global banks, the capacity to outpace exponentially increasing market data volumes.