Westerfield brings public and private equity capital markets sophistication to appMobi, complementing the company’s experienced and technology-savvy leadership team
LANCASTER, Penn. – MobilityWire® – March 9, 2011
appMobi® (www.appmobi.com) today named Leland Westerfield as the company’s chief financial officer. As CFO, Westerfield will evolve appMobi’s financial administration, lead capital formation efforts and guide long-range financial business planning for strategic opportunities as the company scales up worldwide adoption of its Platform as a Service (PaaS) mobile services.
Westerfield, a widely-recognized Internet and media equity analyst and investment banker, comes to appMobi after a fifteen year career on Wall Street with BMO Capital Markets and UBS. At BMO, Westerfield held senior positions in both equity research and investment banking. Most recently he was the managing director responsible for the firm’s Internet and media sector investment banking practice; prior to that, he was the managing director and senior equity analyst covering Internet and media companies, such as Google, Yahoo!, aQuantive and Digital River. Prior to his tenure at BMO, Westerfield spent nine years as a securities analyst at the investment bank UBS in similar equity research roles.
Westerfield has received numerous equity analyst and investment banking accolades. The Wall Street Journal named him “Top Stock Picker” as well as singled him out for “Top Estimate Accuracy” for his analysis of Internet and software sectors. Forbes named him “Best Analyst – Earnings Estimators” in the Internet software and services sector. His research and views have been widely followed by institutional equity investors, in particular his white-paper strategic analysis anticipating steps in the evolution of Internet video markets.
“Lee brings to our leadership team a unique blend of private and public capital equity market expertise, keen understanding of how investors perceive developing technologies, and an extensive network of relationships within appMobi’s target industries,” said David Kennedy, CEO of appMobi. “Based on the outstanding progress appMobi is achieving now, our rate of growth warrants a more comprehensive and strategic approach to the management of the company’s financial matters. Given Lee’s industry expertise and passion for mobile technologies, we are especially honored that he has chosen to join appMobi to lead our financial initiatives.”
“appMobi stands at the leading edge of the mobile app platform services market – a marketplace of potentially enormous size and global scope,” said Westerfield. “Based on my own research on mobile trends and businesses, I have every confidence that appMobi has the right combination of strategic vision, execution plan, and developed tools ready to build a highly scalable mobile cloud services business and command the leading market share.”
appMobi® provides integrated tools and services for creating complete mobile application ecosystems and supporting large-scale developer communities. At the core of appMobi’s technology are its revolutionary cloud-based development, deployment and monetization tools that let millions of Web developers of all skill levels quickly build, test and distribute mobile apps with full native functionality, including push messaging, one touch in-app payments, live updates and full analytics, for multiple smartphone and tablet devices and operating systems. appMobi’s turnkey, white label platform-as-a-service offering enables device manufacturers, network operators or any business to establish wide-reaching mobile app ecosystems and fully featured app stores under their own brand. For more information visit www.appmobi.com.
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