Change is afoot at technology provider PrimeXM. This Tuesday, Finance Magnates learned that the company has been restructuring its business operations and made some major changes to personnel.
Cristian Vlasceanu, who was appointed CEO in February of 2016, stepped down from his role at the beginning of December after just under three years at the helm. PrimeXM’s founder, Clive Diethelm, has stepped in to take his place.
“We’d like to thank Cristian for his time with us and wish him the best for the future,” Diethelm told Finance Magnates. “Looking forward, we have built up a strong base of operations in Cyprus and are making a lot of headway in China.”
“Headway” in this instance means more support staff and a new office. Rumors to the contrary may have been spreading around the industry, but PrimeXM is not pulling out of China.
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Shifting Personnel, Changing Offices
In fact, along with its Shanghai set up, the company now has an office in Shenzhen. Following a restructuring operation last August, the technology provider has also beefed up its presence in the country, with more support staff for its Chinese clients.
There has also been a total restructuring of the company’s operations in Limassol. Though the company had a presence in Cyprus before, its headquarters were in Dubai.
Throughout 2018, however, the company moved its headquarters to a new office in Cyprus and centralized its development team there. And along with that new office, PrimeXM has brought in a host of new employees, including heads of accounting, sales, level 1 support, and client onboarding.
Alongside this change in personnel, PrimeXM has also managed to secure two important audits – the ISAE 3000 third-party assurance standard and the Penetration and Vulnerability Assessment for protection against security attacks. Both audits were conducted by PricewaterhouseCoopers’ (PwC) advisory and assurance divisions.
“At PrimeXM, we have always maintained the highest security throughout our operations” George Swann, Head of Global Infrastructure at PrimeXM, told Finance Magnates. “Hiring PwC was a further means for us to give independent assurance on our processes and controls to our customers, auditors and regulators. Just like the ISO 27001, the ISAE3000 is proof of the high quality of our services.”