Open-source database company Ingres has snapped up financial whiz Tom Berquist from Citigroup to be chief financial officer.Open-source database company Ingres has snapped up a financial whiz to be chief financial officer.
The company announced Feb. 6 that it had tapped Tom Berquist for the role.
Berquist is currently managing director with Citigroup, where he follows medium-to-large capitalized software companies such as BEA, Microsoft and Oracle.
Terry Garnett, Ingres chairman and CEO, was quoted as saying in a release that Berquist will bring software industry insight to the fledgling company, which CA spun off in November as part of its ongoing efforts to remake itself.
"He is intimately familiar with the changing dynamics of the enterprise software industry and brings a keen understanding of the financial metrics, systems and controls needed to grow Ingres into a world-class company," Garnett said in the release.
Sources say CA's spinning off of Ingres was just the next logical step in the company's reorganization. Click here to read more.
Berquist was managing director of Software Equity Research at Goldman Sachs prior to Citigroup.
He covered the then-emerging open-source company Red Hat, among other IT companies, at Goldman Sachs.
Berquist was involved in more than 30 software transactions, including IPOs, secondaries and convertible debt financings while an analyst.
He also spent 10 years in operations management for Wells Fargo/Fortis and Deloitte Consulting, where he helped Global 1000 companies to redesign business processes and to implement enterprise IT systems.
He holds a B.A. in accounting and an M.B.A. from the University of St. Thomas in St. Paul, Minn.
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