CEO Change Announced at Genesis Global
In a significant move for the financial technology sector, Genesis Global, a leading company known for modernizing legacy financial systems, has appointed James Harrison as its new CEO. Harrison succeeds co-founder Stephen Murphy, who stepped down after a decade of leading the company [1][2][3][4].
Harrison, a co-founder of Genesis Global, brings a wealth of experience from senior technology roles at major financial institutions such as Credit Suisse, Merrill Lynch, Bear Stearns, HSBC, and Fidessa. His international career has seen him based in London, São Paulo, Hong Kong, and currently in New York [1][2].
As the new CEO, Harrison aims to maintain a strong client focus and continue Genesis Global’s mission to modernize financial systems through their AI-native application development platform. This platform is designed to help financial firms reduce dependence on vendors, replace risky manual processes like spreadsheets, and comply with regulatory imperatives, including the recent push for T+1 settlement compliance in Europe [1][2].
The Genesis platform is notable for its component-driven architecture, which allows for the integration of AI in a compliant and predictable way. This architecture enables both technical and non-technical users to create robust financial applications with embedded controls for workflow and data processing. The client roster of Genesis includes major banks such as Bank of America, BNY Mellon, Citi, ING, and others [1][2].
Harrison sees the Genesis platform and team as having a unique ability to innovate alongside clients and partners. He is focused on building on relationships and helping clients capitalize on AI and other technical changes in the market [1][2].
The appointment of Harrison signals a continued focus on innovation in the financial technology sector, leveraging AI to address operational risks and regulatory challenges, thereby impacting the financial industry's modernization efforts significantly [1][2][4].
Genesis is being sought after by the financial industry for its AI expertise, with firms throughout financial markets partnering with Genesis to accelerate their digital transformation strategies [1][2]. The firm's solutions have seen growing demand, particularly targeting T+1 compliance in Europe and reducing risks from manual processes [1][2].
Stephen Murphy, who is stepping down after ten years as CEO of Genesis, expressed pride in what he and Harrison built at the company in partnership with clients, partners, and investors. Over ten years, Murphy and Harrison built Genesis into a global company [1][2].
AI is leading a new wave of software innovation in financial markets, and Genesis delivers software and solutions for financial markets developed on its robust, AI-native application development platform. At runtime, Genesis applications are AI-ready for the future, with controls to govern interactions with digital assistants and AI agents [1][2].
The Genesis platform allows clients to extend, customize, or buy solutions, with a component-driven architecture that ensures AI remains predictable and compliant. This approach empowers non-technical business users to build robust, compliant financial applications using AI [1][2].
Sources: [1] Genesis Global Press Release, 2022 [2] Fintech Futures, 2022 [3] Finextra, 2022 [4] Reuters, 2022
- Harrison, in his new role as CEO of Genesis Global, aims to further the company's focus on finance, technology, and artificial-intelligence, utilizing their AI-native application development platform to help financial firms comply with regulatory requirements and reduce dependence on vendors.
- To stay updated on the latest developments in the financial technology sector, visit ffnews.com for news and insights about companies like Genesis Global that are leveraging artificial-intelligence to innovate and modernize legacy financial systems.
