International IT services provider FDM will appoint a new chairman almost a year and a half after it floated on the London Alternative Investment Market.

Ivan Martin, previous head of global IT player Misys's banking division, will take over the helm of the Brighton-based company in October. He will replace current non-executive chairman Brian Divett, who plans to retire from the firm at the end of the year.

FDM has reported dramatic growth over the last six months, ahead of expectations after landing major clients such as British Airways, Reuters, JP Morgan and Virgin Mobile.

But Mr Martin said that with the successful flotation of the company it can now look at acquiring businesses itself.

He said: "We've moved from being a private company last year to floating on the London Exchange. That brings with it different goals and obligations - to the shareholders for example.

"I've had prior experience with a Footsie 100 company and the idea of FDM moving on to the markets was to expand both through our own, organic growth and, of course, with acquisitions coming into play.

"There's a strong management team here, capable of handling a much bigger business."

Founded in 1984 with its headquarters in Trafalgar Place, FDM now has offices in the USA, Germany and Luxembourg.

Mr Martin gained broad experience of the global software and technology markets, including the USA, Asia, Europe, Africa and the Middle East, at Misys.

He said the future of FDM could be one with a much more global reach, though its roots would remain in Sussex.

He said: "People tend to use the whole 'global' tag a bit too liberally but at Misys we used to have customers in 134 countries - literally all over the world.

"I think at FDM we want to do more international business but it will be some time before we break out further than Europe and the US for now. I've had the experience of not only handling global businesses but also the acquisitions of them so I think I can bring a lot to the party.

"But being in Brighton certainly differentiates us. If you're fishing in the same pond as everyone else you tend to catch little.

"Being in Brighton gives us a unique opportunity to attract talent from this area. It gives us a unique perspective.

"And a business in Brighton looking to expand and doing well like this is good for the community."

Mr Divett will stand down as chairman with effect from October 1 but will remain as a non-executive director until December 31 when, after 16 years as chairman, he will retire.

Rod Flavell, chief executive officer, said: "I would like to express my personal thanks to Brian Divett, one of FDM's founding investors, for his chairmanship and support during the last 16 years."

"Finally, I am delighted that we have been able to attract someone with the calibre and experience of Ivan Martin. His knowledge of our markets and his successful tenure at Misys will be of great assistance as we continue our growth.

Tuesday, July 25, 2006