CSI Expands Board of Directors Following $1.6B Acquisition
PADUCAH, Ky. (Dec. 8, 2022)—Computer Services Inc. (CSI), a leading provider of end-to-end fintech and regtech solutions, today announced the appointment of three new voting members to its board of directors and details on its new chairman, Frank Martire, following the company’s acquisition by private equity firms Centerbridge Partners, L.P. (Centerbridge) and Bridgeport Partners (Bridgeport).
The newest voting members are Kristin Muhlner, a leader in technology growth, enterprise software and cloud strategies, Fred Terrell, a senior advisor to Centerbridge, and Tom Shen, a seasoned entrepreneur and banking technology board member—each of whom brings decades of expertise and a proven history of building and growing companies. The robust board will provide insight and resources to help CSI accelerate development and deployment of its solutions while prioritizing its long-standing commitment to customer service.
“We are thrilled to welcome Frank Martire as chairman, as well as Kristin, Fred and Tom as voting members of our board of directors,” said David Culbertson, CEO and president of CSI. “Each brings incredible depth of industry experience and a finely attuned understanding and respect for the needs of our customers. We are confident their expertise will help advance our strategic objectives and support the next chapter of CSI’s history.”
Muhlner joins the new board following a five-year position on CSI’s previous board of directors. She is CEO and co-founder of Affect Therapeutics, an organization that employs mobile technology to revolutionize addiction recovery. With more than 20 years of experience leading high-growth technology organizations, Muhlner has provided strategic leadership in a variety of executive roles for companies such as Sprinklr, newBrandAnalytics, RollStream, webMethods, Deloitte Consulting and Accenture (formerly Andersen Consulting).
Centerbridge’s Terrell joined that firm in 2020 and focuses on investments in the financial services and technology, media and telecommunications sectors. Prior to Centerbridge, he was executive vice chairman with Credit Suisse, where he spent over 25 years advising some of the most prominent names in financial services and technology. Since 2001, Terrell has served as a board member of several major corporations and is currently director of BNY Mellon Corporation, Paramount Global and Mobility Capital Finance Inc. (MoCaFi), an early-stage fintech company focusing on the underbanked. In addition, he serves on the board and investment committee of the Kaiser Family Foundation (KFF) and on the investment committee of the Rockefeller Foundation.
Shen, a long-time entrepreneur and banking technology board member, founded Software Dynamics Inc. in 1982, which offered a suite of banking products—including for tellers, platforms, call centers and CRMs—to more than 1,200 financial institutions worldwide, from multibillion multinationals to local community banks. Shen sold the company to publicly traded S1 Corporation in 2001, and since then has served on the executive team for Digital Insight. He also co-founded Malauzai Software Inc. in 2010, which was acquired by Finastra in 2018.
Martire, founder of Bridgeport Partners, immediately assumes the role of board chairman. Martire is an industry veteran who has held executive and C-level positions for more than 20 years.
“It is a tremendous honor to take on the role of chairman of the board and work with such a strong group of experts in the industry,” Martire said. “For more than 57 years, CSI has succeeded because of its commitment to cutting-edge solutions that empower customer growth. I look forward to leveraging that strong legacy to help deliver the technologies community banks and financial organizations need to compete in the open banking environment.”
Martire currently serves as executive chairman of NCR Corporation, the world’s enterprise technology leader for banks, retailers and restaurants. Prior to NCR, Martire was executive chairman of FIS from 2015 to 2017 and president and CEO of FIS after its acquisition of Metavante from 2009 to 2015. Before its acquisition, Martire served as Metavante’s CEO and president. He has also held the roles of president and chief operating officer of Call Solutions Inc. and president and chief operating officer at Fiserv.
“The combined experience and impressive backgrounds of CSI’s new board members bring an indispensable level of expertise to the future trajectory of CSI,” said Culbertson. “With the strong bench of complementary knowledge and skills on the board, I have no doubt CSI is well positioned to advance its stake as a market leader.”
Former Chairman Steve Powless has transitioned to a voting member along with Culbertson. John Williams, who founded CSI in 1965, will maintain his role of chairman emeritus. As previously announced, Centerbridge’s Jared Hendricks and Ben Jaffe will also serve as voting members.
For more information on CSI, visit csiweb.com.
Computer Services, Inc. (CSI) delivers core processing, digital banking, managed cybersecurity, cybersecurity compliance, payments processing, print and electronic document distribution, and regulatory compliance solutions to financial institutions and corporate customers, both foreign and domestic. Management believes exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the company’s inclusion in such top industry-wide rankings as IDC Financial Insights FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers lists. CSI has also been recognized by Aite-Novarica Group, a leading industry research firm, as providing the “best user experience” in its AIM Evaluation: The Leading Providers of U.S. Core Banking Systems. For more information, visit csiweb.com.