Michele McGovern is the new chief executive at Iris Financial, a software firm that specializes in trading and risk management technology.

Her goal is to bring the firm's technology to the prime brokerage market, where demand to deliver trading technology to hedge funds is growing.  the firm currently works with more than 20 global trading desks in developing large-scale enterprise software, Ms. McGovern said.

Areas such as algorithmic trading and risk management software development will be an important part of the effort to tailor customized technology to prime brokers, who in turn will offer the software to their clients.  Iris's component services architecture lets the software company deliver new tools within six months to the trading desk.

Officials said that Ms. McGovern would be responsible for expanding Iris's business both organically and through strategic acquisitions.  She replaces Michael Laven, who left the firm some months ago.  He had been at the helm since 2003.

Ms. McGovern founded and was a managing part of Ferous, a business acceleration firm working with financial services technology companies.  She will continue to serve as a board member and adviser to Ferous.

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