Comings & Goings: MDSL Hires DeMaio as COO of Americas Operations
November 10, 2014
By Christopher Mohr, TMCnet Contributing Writer
MDSL (News - Alert) recently announced that it had appointed Lou DeMaio as chief operating officer for its operations in the Americas. DeMaio previously worked at Deutsche Bank where he helped rebuild an information distribution system using technology developed by Thomson Reuters (News - Alert), and was in charge of off-shoring and near-shoring programs. In addition to leading US operations, DeMaio will also lead market data managed services and grow those operations.
Tonbridge, U.K.-based MDSL develops telecom expense management (TEM) and market data management (MDM) analysis solutions.
TEM solutions help manage the complexity of telecom expenses by centralizing the data relating to bills, services and assets. This makes it easier to examine vendor invoices and contest unverified expenses. Many routine tasks can be automated, saving labor costs from manual work. Reports can easily be generated, providing up-to-date expense information across the whole enterprise.
MDM solutions deal with the market data services that companies use like Bloomberg (News - Alert) or Standard & Poors. In larger enterprise environments where the company has deep pockets, money is often wasted purchasing market reports that go unused or by employees who don’t need them for their jobs. This content is licensed intellectual property just like software is and has a similar need for compliance with audits.
An MDM solution also identifies who is using the services the most, which vendors are used most by the company and generates reports in case a company gets audited. Enterprises can use this information to avoid waste and penalties for violating licensing terms.
DeMaio’s background, especially his work with the Thomson Reuters (News - Alert) information system, should serve him and MDSL well as it relates to their MDM solutions. Globally, financial data reporting is a $23 billion market, with Bloomberg and Thomson Reuters controlling nearly 60 percent of it. A market this large provides a great opportunity for DeMaio and MDSL to push MDM solutions worldwide.
It also helps that DeMaio has an extensive background in banking, since it is this type of institution that has the money to pay for what are often expensive market data report services. On the surface, DeMaio seems to have an ideal background for the MDM portion of MDSL’s business and it appears that this will be a good hire for the company.