Financial networking services firm BT Radianz has announced the departure of president and CEO Howard Edelstein, who is leaving the company "to pursue his interest in private equity investing".
Edelstein's departure comes just three months after he was appointed president and CEO of BT's new vertically-integrated financial services business, which is housed in its global services division.
Edelstein had been heading up the Radianz business - which was acquired by BT in April last year - since July 2003 when he took over from Doug Gilstrap.
Prior to joining Radianz Edelstein was president and CEO of Thomson Financial ESG, which he founded and later merged with the Depository Trust and Clearing Corporation's Tradesuite business to create trade matching utility Omgeo.
News of Edelstein's departure was released in a statement issued by BT during the Christmas and New Year break. BT says Edelstein will stay involved with the business in an advisory capacity for the foreseeable future and will assist in the search for a successor in his role.
Following Edelstein's resignation, BT has promoted Rick Snape as chief executive officer of the Radianz unit. Snape was previously general manager of BT Radianz's extranet business unit.
The company has also appointed Mark Akass as chief technology officer of BT Radianz.
Akass has been vice president and head of engineering since Radianz was founded by Reuters and Equant in June 2000. Prior to this he was a founding member and vice president, business support at Equant.