Former Instinet president appointed to Board of Directors of Firm58

Mike Plunkett, Member of the Board of Directors, Firm58

“I am thrilled to have this opportunity to apply my securities industry experience to such a promising company."

Firm58, Inc., the financial management software company, has announced that Mike Plunkett, former president of Instinet North America, was appointed to Firm58's Board of Directors, effective December 16, 2010. Plunkett becomes the fifth member of the company's board.

"Mike brings an invaluable depth of financial services knowledge to our board," said Nick Fera, chief executive officer of Firm58. "Firm58 helps firms recognize the revenue opportunities and cost savings in managing middle- and back-office processing of fees, commissions, and payouts. Mike's client commission agreement (CCA) expertise, sell-side insights, and industry contacts will help us expand our unique offerings to clients."

"I am thrilled to have this opportunity to apply my securities industry experience to such a promising company," said Plunkett. "Firm58 has proven the value to clients of elevating post-trade processing out of legacy systems and business unit silos into a more strategic part of daily business. Brokers, execution venues and trading firms that push this project down the priority list run the risk of being left behind in today's increasingly competitive markets."