Xcitek Shakes Up Staff, Focuses on Automation

New York-based Xcitek, a provider of corporate actions solutions, is expanding and reorganizing in an effort to grow its business, officials say.

Basel II, increasing merger and acquisition activity and the drive towards straight-through processing have all fueled the growth of corporate actions, says Brendan Farrell, managing partner at the company. As companies begin to handle increased corporate actions volumes, they need automation technology to manage the growth and reduce risk, he says