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Data Management

04:16 PM
David Valiante
David Valiante
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Credit Suisse Launches Virtual Machine Software Company

Software to result in more efficient server utilization and lower capital costs

CreditSuisse announced today that it is launching an independent company, DynamicOps LLC, to market a virtual machine management application that was developed in-house at the investment bank. DynamicOps is funded by Credit Suisse's NEXT II venture group and is located in Burlington, MA.

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.

To reduce the complexity, Credit Suisse's Global Research and Development Group developed virtual machine management software called VRM. 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.

"Where self-provisioning for virtualized servers has been deployed, VRM has 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.

DynamicOps is led by Rich Krueger, 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.

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