Temenos has hired Barb Morgan, formerly of LSEG and FIS, as chief product and technology officer.
Morgan arrives at Temenos after a one-year stint as group head of product, data and analytics at the London Stock Exchange. Previous posts include CTO at InsurTech SaaS business Itel, and tech and product roles at FIS. At Temenos, Morgan Morgan replaces longstanding incumbent, Prema Varadhan as chief product and technology officer
Morgan joins a raft of senior appointments made at the firm by new CEO Jean-Pierre Brulard, including the hiring of Isabelle Guis as chief marketing officer, Monty Bhatia joining as EVP of global alliances and partner ecosystem, Will Moroney promoted to CRO and Rodrigo Silva promoted to president Americas.
Speaking on Morgan's appointment, Brulard says: "She is an experienced technology and people leader with extensive knowledge and understanding of banking and financial services technology, a strong market focus from both a business and an engineering perspective, and a track record of developing solutions that incorporate data, AI and cloud technologies."
The annoncement comes as the Swiss core banking vendor reported its latests quarterly results, posting nine percent growth in annual recurring revenue.
With Q3 sales coming in just below target, Temenos has revised its FY24 guidance down slightly, with the Swiss vendor now expecting ARR growth of between 11% and 12% - compared to the previous estimate of around 13% - with total software licensing flat, compared to earlier forecasts of growth of between 3% and 6%.
Commenting on the results, Temenos CFO Takis Spiliopoulos says: “While the overall trend in new business was positive in the quarter, with subscription licenses growing 17%, we had clearly expected a significantly stronger software license number than was delivered. The issues in MEA were not linked to any change in customer behavior or change in the overall sales environment but were specific to sales execution."