Executive Management
Matthew E. Oakes
President and Chief Executive Officer
matthew.oakes@directinsite.comMatthew E. Oakes is President and Chief Executive Officer of Direct Insite.
Since joining Direct Insite in 2002, Mr. Oakes has served as its Chief Operating Officer, Executive Vice President of Client Services and Director of Business Operations & Quality Assurance.
Mr. Oakes is experienced at providing innovative approaches to problem solving, running the day-to-day operations of an organization while applying strong cost controls and a commitment to deliver quality customer service.
Prior to joining Direct Insite, Mr. Oakes was the Chief Operating Officer for Direct Media Networks, a New York based electronic commerce and technology company. During his tenure at Direct Media Networks, Mr. Oakes oversaw a company-wide restructuring of all internal operations that led to improved cost efficiencies, enhanced product development delivery, and a dramatic turnaround in quality controls.
Previously, Mr. Oakes worked for Westinghouse, Inc. as Managing Director of Operations.
Mr. Oakes earned his JD from Nova Southeastern University and a Bachelors degree in Agricultural Economics from Cornell University.
A former United States Marine, Mr. Oakes served with the Special Operations Group of the 3rd Marine Division and served as a Drill Instructor at Parris Island, South Carolina.
Joan Doyle Foley
Vice President of Sales
joan.foley@directinsite.comJoan Doyle Foley is vice president of sales at Direct Insite.
She is responsible for leading and expanding Direct Insite’s sales team, driving the company’s worldwide direct sales activities, and managing channel partnerships.
Foley brings an extensive track record in sales leadership to her position at Direct Insite. Foley has served in senior sales positions at IBM, Oracle and Hyperion, where she managed teams to achieve significant revenue growth. Additionally, she helped launch SuccessFactors (which later went public and was recently acquired by SAP) and Valchemy (which was acquired by IBM). Most recently, Foley was vice president of sales for FirstRain, where she was instrumental in building a sales team focused on the enterprise market, as well as working closely with the executive team on overall corporate strategy.
Foley earned a Bachelor’s of Science in Engineering from Michigan State University.
Arnold P. Leap
Executive Vice President and Chief Technology Officer
arnold.leap@directinsite.comArnold P. Leap is Executive Vice President and Chief Technology Officer at Direct Insite.
Mr. Leap joined Direct Insite in 1997 as Director of Development and Engineering. He was named Chief Technology Officer in 1998, and was promoted to Executive Vice President in 2000. Mr. Leap combines his software development, data modeling and networking experience to deliver new product offerings that meet the needs of Direct Insite customers.
Mr. Leap and his team developed a number of Direct Insite's key technologies, including its Invoices On-Line (IOL) and Electronic Bill Presentment and Payment (EBPP) products. Mr. Leap continues to lead the company’s research and product development activities.
Prior to joining Direct Insite, Mr. Leap was MIS Manager and Director for AMP Circuits, Inc., a subsidiary of AMP. During his tenure with AMP, Mr. Leap was responsible for day-to-day information systems operations as well as the requisition and implementation of an industry-specific consolidated enterprise resource planning (ERP) and financial system.
Mr. Leap earned his BS degree from the New York Institute of Technology with a major in Computer Science and a minor in Business Administration.
He is an active member of the Open Applications Group, Inc., a not-for profit open standards group committed to building process-based XML standards and improving application integration.
Sandra L. Wallace
Vice President of Finance and Acting Chief Financial Officer
sandra.wallace@directinsite.comSandra L. Wallace, CPA, joined Direct Insite in 2011 as Vice President of Finance and Acting Chief Financial Officer. Ms. Wallace has more than 25 years of professional accounting, finance, tax, management and operations experience with both public and private companies in an array of different industries. She has been employed by and consulted for business entities ranging in size from small startups to large multi-nationals, bringing with her skills including accounting, finance and operations management, internal controls, financial modeling, budgeting, corporate acquisitions, systems analysis, SEC compliance and reporting, debt and equity financing, taxation and contract negotiation.
Prior to joining Direct Insite, Ms. Wallace provided finance, accounting and technology management consulting services, including oversight of independent auditors and development of accounting and finance functions, for a variety of public and private companies. Her earlier executive experience includes positions as Senior Vice President, Finance and later, Senior Vice President, Corporate Operations of a publicly-held beverage industry company, Vice President and Chief Financial Officer of a private residential real estate developer, Finance Director of a publicly-traded workforce solutions company and Controller of a publicly-held consolidated group of corporations in the tobacco, real estate and investment industries. Ms. Wallace began her professional career with the international audit, tax and advisory firm, KPMG LLP.
Ms. Wallace earned her Master of Science degree in Accounting from Oklahoma State University and a Bachelor of Science degree in Business Administration from the University of Minnesota. She is a member of the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants.
Board of Directors
John J. Murabito, Chairman
John J. Murabito was named to the Board of Directors of Direct Insite in 2005, and became Chairman of the Board in 2011.
Mr. Murabito is Managing Director of Metropolitan Venture Partners, a venture capital firm he co-founded in 1999. Metropolitan has the institutional backing of the Man Group plc, a FTSE 100 global financial services firm and one of the largest hedge fund managers in the world. Mr. Murabito is recognized for his expertise in working with companies under management to ensure they deliver value for shareholders.
Mr. Murabito is responsible for the overall financial and operational management of Metropolitan Venture Partners. Utilizing his extensive experience in financial and risk management, Mr. Murabito works closely with portfolio companies to apply operational and fiscal discipline to achieve profitable growth.
Prior to Metropolitan Venture Partners, Mr. Murabito worked from 1995 through 1999 developing and managing hedge funds for Hite Associates and the Man Group.
Mr. Murabito graduated Magna Cum Laude from the Wharton School at the University of Pennsylvania with a concentration in finance. He also is an alumnus of Phillips Exeter Academy.
He currently also serves on the Board of Directors of Metropolitan Venture Partners and as the CEO of AsiaCrest Capital.
James A. Cannavino
James A. Cannavino was previously Chairman of the Board and Chief Executive Officer of Direct Insite and continues to serve as Director.
Prior to joining Direct Insite, Mr. Cannavino was Chairman of the Board and Chief Executive Officer of CyberSafe, Inc., a company specializing in network security.
Mr. Cannavino previously served as President and Chief Executive Officer of Perot Systems Corporation. At Perot Systems, Mr. Cannavino led day-to-day global operations, as well as strategic planning.
From 1963 through 1993, Mr. Cannavino served in a number of increasingly strategic management positions at IBM, most recently as Senior Vice President responsible for Corporate Strategy and Development. Among his achievements at IBM were the development of the mainframe operating systems. He also restructured the company’s $7 billion PC business, an assignment that ultimately led to the development of the IBM PC Company. He also served on the IBM Corporate Executive Committee, Worldwide Management Council, and IBM’s integrated services and solutions company. In addition, Mr. Cannavino was a board member for three IBM joint-venture companies, including Prodigy Services, Inc.
Mr. Cannavino currently serves on the boards of 1-800 Flowers, Facilities Maintenance, and National Center for Missing and Exploited Children, and is the Chairman of the Board of the International Center for Missing and Exploited Children. Mr. Cannavino is a long-time member of the Board of Marist College in Poughkeepsie, New York, where he recently served as Chairman of the Board.
Michael Levin
Michael Levin brings nearly 30 years of securities industry experience encompassing a broad array of functions, including Chief Executive Officer, Chief Operating Officer and Chief Information Officer of US broker-dealers.
From November 2001 through February 2011, Mr. Levin was Chief Executive Officer of Hapoalim Securities USA, Inc., and its predecessor companies, including Investec (US) Inc., an affiliate of the Investec Group, an international banking group. In his role as Chief Executive Officer of Investec (US) Inc., Mr. Levin oversaw a firm with approximately 1,000 employees and $1 billion of assets. Mr. Levin successfully restructured the company’s U.S. operations, including the acquisition and disposition of businesses, to enhance stockholder value.
As Chief Executive Officer of subsidiaries of publicly-traded companies in the United Kingdom, South Africa and Israel, Mr. Levin implemented structures to enhance corporate governance and controls. Mr. Levin was a Managing Director in Information Technology at the National Securities Clearing Corporation and served as deputy Chief Information Officer for this essential U.S. securities industry clearing utility.
Previously, Mr. Levin was a General Partner for investment advisor Weiss Peck & Greer, responsible for information technology and portfolio administration. Mr. Levin spent 10 years with the investment bank Dillon Read & Company.
Mr. Levin earned an MBA from the Wharton School at the University of Pennsylvania.
Thomas C. Lund
Thomas C. Lund is the founder and Chief Executive Officer of Lund Capital Group, a private commercial real estate company that has holdings in various regions across the United States.
Prior to founding Lund Capital Group, Mr. Lund founded Customer Development Corporation (CDC), a company specializing in database management and marketing for financial institutions and other various companies around the world. Mr. Lund is widely known as a pioneer of database marketing. In 1987, CDC was honored by Inc. Magazine as the eight-fastest growing privately held company in the country. Mr. Lund, who is credited worldwide with many technical and creative innovations in the database marketing industry, also received the coveted “High-Tech Entrepreneur of the Year” award from Entrepreneur Magazine. Mr. Lund sold CDC in November of 1998.
In addition to Mr. Lund’s business interests, he and his wife are active philanthropists. Mr. Lund’s entrepreneurial success as an industry pioneer in database marketing will be of value to the Board as it seeks to create a more entrepreneurial culture and invigorate sales and marketing efforts.
Philip Summe
Philip Summe is the Portfolio Manager of Crossfields Capital Management, a firm he founded in 2005 that invests in small-cap, deep-value companies.
From 2002 to 2004, Mr. Summe was a General Partner for Gabriel Venture Partners (Gabriel). Gabriel is a $260 million venture capital fund focused on leading investments in technology companies. Gabriel has a deep operations-focused approach where they generally join the board of directors and actively partner with management teams. At Gabriel, Mr. Summe led and structured investments in LVL7 and KMSI. He served as Chairman of the Board of LVL7 after initially investing in the company in 2002.
From 1998 to 2001, Mr. Summe was a Principal with J.P. Morgan Partners (formerly Chase Capital Partners) and Flatiron Partners, where he led the software initiatives and served on numerous boards. Successful investments include Stamps.com, Starbelly, Interactive Search Holdings, and Arbinet.
From 1996 to 1998, Mr. Summe was an investment banker with Deutsche Morgan Grenfell’s technology investment banking group, where he provided financing and M&A advice to companies.
From 1991 to 1994, Mr. Summe was a Senior Consultant with Accenture. He worked for Convergys Systems from 1989 to 1991.
Mr. Summe received an MBA with Honors from the University of Chicago Graduate School of Business and a BS in Applied Physics with Honors from Xavier University.
Mr. Summe’s experience as a small-cap technology investor and venture capitalist helping to grow small businesses, with hands-on operational oversight and a focus on stockholder priorities, will assist the Board in formulating and overseeing implementation of a growth strategy.
Craig W. Thomas
Craig W. Thomas is a co-founder of Shareholder Advocates for Value Enhancement (S.A.V.E.) and a Managing Member of S.A.V.E. Partners III, LLC. He also is the founder of KC Trading Partners where he manages a portfolio of equity investments.
Mr. Thomas served as Director of Research at S.A.C. Capital Advisors from 2007 to 2008 where he managed a pool of public and private investments and was a Portfolio Manager at S.A.C. Capital Advisors from 2005 to 2007. Mr. Thomas was a Director at CR Intrinsic Investors, an affiliate of S.A.C. Capital Advisors, from 2004 to 2005, and he was a Research Analyst at S.A.C. Capital Advisors from 2003 to 2004.
Prior to earning his MBA, Mr. Thomas was an Analyst at Goff Moore Strategic Partners and Rainwater, Inc. from 1999 to 2001. He was an Associate at The Boston Consulting Group, Inc. from 1997 to 1999.
Mr. Thomas is a former director of Laureate Education, Inc. and WCI Communities, Inc.
Mr. Thomas earned his AB at Stanford University and an MBA from the Graduate School of Business at Stanford University.
Mr. Thomas’ background as an advocate for stockholders and improved corporate governance, his extensive experience as an investor in public companies, and his experience as a director will align the interests of the Board with those of the Company’s stockholders and bring accountability and a seasoned investor-centered perspective to the Board.
