Conde takes CEO post at SunGard

Cristobal Conde has been elected chief executive of Pennsylvania-based risk technology company SunGard, adding to his current responsibilities as president.

Conde succeeds James Mann, who will continue to serve as chairman of the board of directors. "It's the end of a three-year succession plan," Conde said. "It's probably one of the least catastrophic transitions ever."

The succession plan started in 1998 when Conde was appointed executive vice-president. In August 1999, he was elected chief operating officer and a member of the board of directors. By March 2000, Conde was elected president, a title he will retain, according to SunGard officials. Conde joined the company in 1987 when SunGard acquired Devon Systems International, a business he co-founded. He later launched the SunGard Trading Systems division.

"I don't have a backlog of changes that need to be made… I think we're in a very good position," Conde said.

SunGard will continue to focus on providing operational efficiency and operational resiliency, Conde added. The company also has "strong financials in these difficult times" and is likely to continue with its aquisition spree.

Born in Santiago, Chile, Conde is a US citizen and holds a degree in physics and astronomy from Yale University.