The bank technology company Fundtech said it has hired a Misys veteran as its president and chief operating officer.

Edward Ho joined Fundtech, of Jersey City, N.J., as president and COO at the beginning of the month, after nine years leading the capital markets division at Misys. He was also president and CEO of IQ Financial Systems, a developer of risk management systems, until IQ's sale to Misys. Before that he spent 13 years as an investment banker for Bankers Trust and Deutsche Bank.

Michael Sgroe, Fundtech's former president and COO, will be leaving at the end of the month, according to a company spokeswoman. Sgroe has been with Fundtech since 2000.

Ho will be responsible for all of Fundtech's operations globally and will report to Reuven BenMenachem, the company's CEO. Ho will also be joining the Fundtech board of directors.

"We are very pleased to welcome Ed, a skilled and accomplished business leader, to our board and senior management team," BenMenachem said in a press release. "His proven leadership building global technology companies and driving operational excellence will be a welcome addition to our leadership team as we position ourselves to achieve Fundtech's strategic business and growth objectives over both the short- and long-term."