The financial software company Finastra has appointed Chris Walters its new CEO as current chief Simon Paris steps down from the role, the company announced Monday.
Walters, who has about two decades of industry experience, recently served as the CEO of Pluralsight and, before that, Avantax, a tax-focused wealth management platform. Avantax was acquired by Cetera Solutions in a $1.2 billion deal in 2023.
Walters' experience over the years includes serving as chief operating officer of The Weather Company and Bloomberg Industry verticals group, and the founder of BGOV, information tracking all U.S. federal legislation, regulation and government spending and a partner at McKinsey & Company.
Walters received more than $21 million through a “golden parachute” compensation package as part of Avantax’s sale to Cetera Solutions, according to a Securities and Exchange Commission filing.
“I'm excited to join Finastra at this pivotal moment in its journey and am impressed by the significant progress that has been made during Simon's leadership,” Walters said in a statement. “I look forward to working with the talented team to drive sustainable growth and continue to deliver more value to our customers, team members, and investors.”
Finastra offers a range of software and data to around 8,100 financial institutions, including 45 of the world's top 50 banks, according to the company.
Paris and Walters will work together during a “transition period” to ensure “a smooth handover,” the company said.
Paris, who will exit after almost a decade at the company, joined Finastra predecessor, Misys as president in 2015. He was appointed deputy CEO in 2017 and promoted to CEO in 2018. Finastra was formed in 2017 by merging Misys and D+H.
In November, Finastra disclosed a security breach incident in which a hacker broke into its systems and stole data – possibly exposing sensitive information from some of the world’s largest financial institutions, The Wall Street Journal reported. Finastra faced a cyberattack in 2020 as well.
“Chris is a seasoned professional, and I am honored to 'pass the baton' to him,” Paris said in a statement. “I leave incredibly proud of what Finastra has achieved so far and excited for the company's future under Chris's leadership.”
