By Jordan True
WASHINGTON, Sept. 6, 2017 /PRNewswire/ — Thycotic, a provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, today announced Nick Margarites as its new chief financial officer. As CFO, Margarites will be responsible for implementing financial and strategic objectives that enable Thycotic to capitalize on organizations’ global demand for PAM solutions.
Margarites previously served as CFO of Metalogix, a private equity backed software technology company. He has more than 25 years of financial and management experience from his tenure in both private and public companies, as well as in public accounting.
“Nick brings significant leadership and financial experience to Thycotic,” said James Legg, CEO of Thycotic. “His background within the technology industry will have a big impact as we continue to aggressively gain market share and achieve goals for operational excellence.”
Margarites will lead Thycotic’s financial operations and will report directly to Legg. He previously spent 11 years at Sourcefire, a network security company, holding vice president of finance and chief accounting officer positions. He was an integral part of the executive management team that took the company public. Margarites guided the company from its early stages through the IPO and significant growth periods to its eventual acquisition by Cisco Systems for $2.8 billion. After the acquisition, Margarites spent two years at Cisco leading the accounting and finance integration team.
“I’m thrilled to join Thycotic and focus on greater market penetration and growth,” said Margarites. “Thycotic has been the leader in the PAM market and I’m excited to be onboard during a thriving time for the company. There’s a strong need for Thycotic’s PAM solutions as privileged account breaches become more frequent.”
Margarites holds a bachelor of science degree in accounting from the University of Maryland at College Park and is a member of the American Institute of Certified Public Accountants.