People

OceanSound-backed CFM appoints Baker as CEO

His appointment is effective May 1, 2023.

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  • Tempe, Arizona-based CFM is a provider of connectivity, workflow, and analytics software for banking
  • After a brief transition, current CEO John W. Smith will remain actively involved as vice chairman of CFM’s board of directors
  • OceanSound Partners invests in technology and technology-enabled services companies serving government and enterprise end-markets

CFM, which is backed by OceanSound Partners, has named Stephen Baker as CEO. His appointment is effective May 1, 2023. After a brief transition, current CEO John W. Smith will remain actively involved as vice chairman of CFM’s board of directors.

Tempe, Arizona-based CFM is a provider of connectivity, workflow, and analytics software for banking.

Most recently, Baker was president and general manager of Zego. Previously, he held key leadership roles at insightsoftware and MRI Software. Earlier in his career, Baker co-founded ShortTrack, a startup that develops connectivity software for the title and escrow industry.

Baker succeeds John W. Smith, who has been CEO since 2011.

Ted Coons, a partner at OceanSound, said in a statement, “Since our investment in December 2021, CFM has delivered significant value to customers and surpassed our growth expectations. Under John’s leadership, we have successfully integrated three established software companies and made substantial investments in our people to support our expanded scale. We are incredibly grateful for John’s contributions and the immense transformation that CFM has made in such a short time. We look forward to his continued partnership.”

Based in New York, OceanSound Partners invests in technology and technology-enabled services companies serving government and enterprise end-markets.