St. Louis, Missouri, November 16, 2021
The merger of Exegy Incorporated and Vela Trading Systems, financially backed by Marlin Equity Partners and announced in May, has reached a key point in the combination of the companies. With the development of the “new” Exegy advancing, the company announced today additions to its Integration Management team including the appointment of David (“Dave”) Foster to the leadership team as Chief Financial Officer.
Foster comes to Exegy with over 30 years of accounting and financial experience representing a wide variety of vertical industries and ownership structures. In his most recent role within the FinTech space at Giact Systems (a Refinitiv company), Foster led and managed all the finance and accounting functions of this PE-backed company focusing on driving overall growth through strategic planning and increasing operational efficiencies, ultimately leading to a successful exit.
Foster brings a number of core competencies to Exegy including the pre-IPO, merger/acquisition and divestiture processes, and the associated follow-on integration activities that are centered around the alignment of strategic goals and their respective metrics.
Foster has an MBA in Finance, Marketing, and International Business from Northwestern University, Kellogg School of Management, and presently resides in McKinney, Texas a suburb of the Dallas–Fort Worth metroplex.
In parallel, Exegy also announced the departure of Jen Nayar (previous CEO of Vela Trading Systems), who has served as Exegy’s Chief Integration Officer. Since the commencement of the merger Nayar, working with Exegy’s CEO Jim O’Donnell and the leadership team, has been responsible for charting and monitoring the progress of the company’s integration efforts.
O’Donnell stated, “Jen has been a valued business partner and sounding board throughout the merger and integration process for the entire leadership team. Jen had previously conveyed her intentions to me to depart with the goal of spending more time with her family, and to evaluate and determine the next chapter of what has been a stellar career in the Financial Technology industry. Jen’s experience, insights, and influence have been instrumental in the positive progression of the merger. I thank her for the guidance she has provided throughout the process and her overall friendship that I look forward to maintaining.”
To provide both near- and long-term consistency in the critical role of the Chief Integration Officer, and to help shape the ongoing responsibilities and growth objectives of the integration office well into the future, Krista Steward has been named to the position of Chief Integration Officer. Steward’s previous tenure as Chief Financial Officer at Exegy has equipped her with a broad working knowledge of the organization that will serve as a vital springboard in continuing the integration process. In addition, Steward will aid in the going forward definition of the integration position and its capacity, as it will be a key stakeholder role as future merger and acquisition opportunities are presented.
In closing, O’Donnell conveyed, “While we welcome Krista and Dave to their newly appointed responsibilities, the leadership joins me in thanking Jen for her many contributions to the company and for her continued success in future endeavors. I am confident these organizational moves will further bolster our mission to be the most innovative, dynamic, and trusted provider of market data and trading infrastructure to the financial services industry. “