Toronto-based risk management technology vendor, Algorithmics Incorporated has appointed Dr. Michael Zerbs, vice president of research and product marketing, to the company's board of directors. Yaacov Mutnikas has been promoted to the new position of chief technology officer, while remaining the company's vice president of software engineering and professional services.
Dr. Zerbs is responsible for the overall direction of Algorithmics' research, marketing and strategic partnership efforts. During his 11 years with the company, he has led the design efforts of most of the company's risk exposure and hedging products and has also managed several large client implementation projects.
Mr. Mutnikas joined Algorithmics in 1996 as managing director of the company's South African operations, and was promoted to his current position in 1998. He is responsible for the development of Algorithmics' product offerings and, through the professional services department that reports to him, the definition and implementation of solutions that address the business needs of the firm's many customers.
In the newly created role of chief technology officer, he will expand these responsibilities to include corporate development of the company's technology vision, based on the Mark-to-Future methodology.
Dr. Ron S. Dembo, president and chief executive officer of Algorithmics, comments: "These appointments reflect the outstanding contributions that Michael and Yaacov are making to Algo's growth and corporate mission."