Citadel Associates, a provider of enterprise data management systems for buy-side institutions, has changed its name to Cadis Software, assuming the name of its flagship product Cadis EDM

Citadel Associates, a provider of enterprise data management systems for buy-side institutions, has changed its name to Cadis Software, assuming the name of its flagship product Cadis EDM Suite, which has strong brand awareness in the market.

At the same time Daniel Simpson, a board member since last July, will take over the role of chief executive, while former chief executive Peter Little becomes chairman. Based at the company's London headquarters, Simpson's primary focus will be to strengthen its market position in Europe and the US.

'This is an exciting time to take on the role of chief executive and I am confident that with my prior experience in the asset management industry, I can bring valuable direction, knowledge and expertise to Cadis,' Simpson says. 'In 2007 we experienced tremendous growth by staying focused on our goal of delivering the best buy-side EDM solution. We are in good shape to repeat that success this year.'

Simpson was previously global head of sales at PerTrac Financial Solutions, which he joined in January 2006 with the acquisition of Whittaker Garnier, a contact and information management software firm where he was chief executive.

He was earlier sales director for hedge fund software firm Beauchamp Financial Technology. He has worked in the alternative investment industry for 10 years, with previous investment banking experience in emerging markets and prime brokerage.

'Daniel has been a driving force behind Cadis Software's success for nearly a year,' Little says. 'With his strong track record in the financial technology industry, he is the ideal candidate to lead an already thriving company.'

Founded in 1999, Cadis Software is based in London and has its products installed on three continents. Its software is used by asset managers, insurance companies and hedge funds with combined assets under management exceeding USD3trn.