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MillenniumIT appoints new President

Sep 12, 2011 2:30:59 PM - www.ft.lk

Millennium Information Technologies (MillenniumIT), a leading technology solutions provider yesterday announced the appointment of Amit Alok as its new President and General Manager.
Two years ago MillenniumIT became part of  London Stock Exchange Group Plc, the international exchange business, and since then has gone from strength to strength, providing the Group with the world’s fastest trading platform and successfully selling its technology to other exchanges, financial market participants and Sri Lankan and international organisations  across the world.

Under founder and CEO Tony Weeresinghe’s leadership, MillenniumIT has flourished. With Tony’s London Stock Exchange Group role continuing to expand, Amit’s appointment will deliver additional management strength to MillenniumIT as it moves into its next stage of development.
Amit Alok, is the former Managing Director of the ECN business division (Asia-Pacific & Japan) at the Economist Group. Amit will report directly to Tony Weeresinghe.
Announcing the appointment, Weeresinghe said: “This is great news for Millennium Information Technologies. Our recent extraordinary expansion has driven our decision to reinforce the top management at the firm and we are delighted to welcome Amit Alok to the team.”  “In the two years since the LSE acquired us, we’ve seen our business grow, several fold. That’s not just a difference of degree, that’s a whole new kind of company.  I’ve been running things with my senior team – the same familiar faces – ever since our foundation in 1996 and it’s now time to bring in some new fresh skills, to fortify ourselves. There are so many opportunities out there and we want to capitalise on those. Having Amit take on the role of President & General Manager will allow me more time to promote MillenniumIT internationally, more time to drive the Group’s international development business and more time to focus on the delivery of our growth strategy,” he added.
With a CV testifying to a long and successful career as a manager of technology firms –Alok brings valuable and broad skills to MillenniumIT. He has seen significant stints at Microsoft and Symantec, had his early experience at Reuters in Europe and Asia and, more recently, as head of the Economist Corporate Network in Asia.  His broad range of experience will help MillenniumIT to further develop their businesses.  
Alok said:  “I’m delighted to be joining the London Stock Exchange Group as President & General Manager of MillenniumIT. I know the company from my past experience working in Sri Lanka and look forward to working with Tony and the current management team to drive the business forward, taking it to the next level.”
Fizzing with new ideas as always, Weeresinghe spoke enthusiastically of ‘transforming the business model’ to leverage new developments in securities markets and the technology that supports them.  Millennium IT’s Linux-based trading platform now supports the London Stock Exchange as well as many other exchanges and trading networks worldwide. The most recent adopter of Millennium IT technology was Oslo Børs, the Norwegian Stock Exchange.  Weeresinghe emphasised that Alok’s appointment did not signal the end of his own involvement in Millennium IT. ”The company is a pivotal element of the LSE Group and its welfare within the group will be my personal responsibility,’ Weerasinghe said adding ‘Amit will certainly have full autonomy as President and General Manager, but I shall remain closely involved with MillenniumIT.”
Part of the London Stock Exchange Group, MillenniumIT is a premier technology solutions provider serving the global capital markets industry. The company’s products currently power exchanges, depositories, brokerages and regulatory bodies in the United States, Europe, Africa and the Asia-Pacific region.  In Sri Lanka, MillenniumIT is a leading information technology solutions provider, specialising in IT solutions for the financial and telecom industries. MillenniumIT also offers information technology infrastructure and consulting services.