HazelTree has named hedge fund industry veteran Sameer Shalaby as its new president and chief executive officer.

He replaces Stephen Casner, who will continue with HazelTree as its global head of partnerships.

The firm provides treasury management solutions to hedge funds and fund administrators.

Shalaby most recently founder and chief executive of investment management solutions provider, Paladyne Systems, which he founded in 2005.

Broadridge Financial Solutions bought the business in 2011.

Prior to Paladyne, Shalaby founded investor operational management and accounting solutions provider, Cogency Systems, in 2002 and led its growth in the alternative investment industry.

 As HazelTree’s new CEO, his top priorities will be accelerating the company’s global growth, increasing focus on customer service and driving product innovation.

“The need for HazelTree’s solution has never been greater,” Shalaby said. “Dissipating custody and liquidity boundaries between financial institutions are driving alternative managers as well as traditional asset management firms toward a much more active treasury management function”