Palo Alto (Nov 24, 2015) – First Derivatives plc subsidiary KX Systems, a leader in high-performance database and time-series analytics, today announces some key management changes. The changes follow a recent board review of First Derivatives’ wider group leadership focussed on delivering strategic priorities, customer benefits and sales and marketing efficiencies.

KX Systems CEO and co-founder, Janet Lustgarten, will become Chairwoman of KX Systems Inc. and will be invited to join the Board of Directors of First Derivatives plc in 2016. First Derivatives plc CEO, Brian Conlon, will replace Janet Lustgarten as CEO of KX Systems Inc.

Mark Sykes who joined KX Systems earlier this year as Head of Global Market Strategy will become Chief Operating Officer. In addition to his current responsibilities, Mark will be in charge of KX’s day-to-day operations and global client relationships. Mark will also join the Executive Management team at First Derivatives.

Commenting on these changes, Janet Lustgarten, co-founder and CEO at KX Systems, said: “Since becoming part of the FD Group, I have been impressed by its growth potential not only within capital markets but also within other verticals such as Oil and Gas, Pharmaceuticals and the Utilities sector. I am very proud of how Arthur Whitney and I bootstrapped this company. Over the past 22 years I transitioned from entrepreneur to CEO and now feel the time is right for Brian to lead Kx. I look forward to continuing to work closely with Brian and the FD board in helping to set the group’s strategy and driving the business forward.”

First Derivatives plc CEO, Brian Conlon, commented: “Under Janet’s leadership, KX has become one of the most trusted brands in financial markets technology. Over 15 years, she has shown a deep commitment to the company, its clients and the wider KX community. We are privileged to have Janet’s continuing contribution to the wider First Derivatives Group.”

Arthur Whitney, co-founder and Chairman, KX Systems, and inventor of kdb+, commented: “Brian, Mark, Janet and I share an ambition to see KX technology widely adopted as the natural solution to the growing number of fast data challenges which are emerging now across many industries. Brian and Mark’s energy and vision will be critical to see this goal achieved. I sincerely thank Janet for her considerable contribution to KX’s success to date and welcome her continued stewardship as Chairwoman of KX in overseeing many more exciting years ahead.”

Brian Conlon added: “I am honoured and excited to have the opportunity to lead KX Systems Inc. and to take our unique technology into new markets beyond Financial Services, including IoT and Streaming Analytics.

About KX

KX is a leader in high-performance database and time-series analytics. Based in Palo Alto, California, the company was founded in 1993 and its kdb+ database platform incorporates a portable, expressive query and programming language, q, to analyze and store streaming events, manipulate in-memory and on-disk databases, and build distributed, low-latency applications. Originally targeting the capital markets, in recent years KX Systems has expanded its presence in other vertical markets including Oil and Gas, Pharmaceuticals and Utilities in response to customer demand.

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