Media Releases Press Release
Credit Suisse Launches Virtual Infrastructure Management Software Company
DynamicOps to bring virtual machine management software to commercial marketCredit Suisse announced today that it is launching an independent company to market an innovative virtual machine management application. The company, DynamicOps LLC, formed in January, 2008, is funded by Credit Suisse's NEXT II venture group and is located in Burlington, Massachusetts.
Credit Suisse first deployed a virtual infrastructure in 2005, and realized that while virtualization improved resource utilization and business agility, it also increased operational complexity.
VRM was initially developed by Credit Suisse's Global Research and Development Group, headed by Steve Yatko, managing director. The software has been in production for more than two years and manages thousands of virtual desktops and servers at multiple Credit Suisse data centers in four locations worldwide. The software brings a level of product maturity and capability that is not commonly found in many currently available virtual infrastructure management products.
"In the case where self-provisioning for virtualized servers has been deployed, VRM enabled us to reduce our provisioning lead times from weeks to minutes. This has resulted in more efficient server utilization and lower capital costs," explained Stephen Hilton, managing director, Enterprise Servers and Storage, Credit Suisse. "An additional benefit is the dramatic improvement in our ability to respond rapidly to business needs."
"VRM has made desktop virtualization a 'win-win' for Credit Suisse. We are able to improve the user experience through rapid service delivery, while maximizing the operational ROI through automation and standardization," noted Brad Novak, managing director of end user platforms, Credit Suisse.
DynamicOps is led by a strong management team, headed by Rich Krueger, a proven entrepreneur who was previously an executive vice president at Incipient, a storage virtualization company. Krueger also held management roles at LightSpeed Software (acquired by Astoria), EMC, and Conley Corporation (acquired by EMC).
"Forming DynamicOps provides Credit Suisse with the opportunity to realize a return on its software investment, as well as properly form and fund a software organization that can help meet its current and future technology needs, as we continue to roll out our dynamic data center vision," said Karl Landert, CIO, Credit Suisse.
The company's software is currently installed in other large IT organizations in financial services as well as other industries. Additional information about DynamicOps or Virtual Resource Manager can be found at www.dynamicops.com .
Credit Suisse Group is a leading global financial services company headquartered in Zurich. As an integrated global bank, Credit Suisse provides its clients with investment banking, private banking, and asset management services worldwide. Founded in 1856, Credit Suisse has a long tradition of meeting the complex financial needs of a wide range of clients. Credit Suisse is active in over 50 countries and employs approximately 48,000 people from over 100 different nationalities.