Calastone has appointed Terry Williams as chairman. Williams brings a wealth of financial services and technology expertise to Calastone born from a career spanning more than thirty years of global product and service innovation. In the early 1970's, he founded Wilco, the computer services company offering open systems technology for the back office and modern development techniques for its ‘Gloss' trading and settlement system. In 1996 Wilco was acquired by ADP. Williams was appointed chairman and chief executive and under his leadership, ADP Wilco grew to employ more than 700 staff worldwide with revenues exceeding $100million (£66 million).

Williams will work with the Calastone management team to provide high level strategic advice and continue to build Calastone's reputation as an independent cross-border transaction network for the mutual fund industry.