Zergo Holdings, which acquired Irish company Baltimore Technologies for $60 million (€52.1 million) last December, has appointed former Baltimore chief executive, Mr Fran Rooney, as Zergo chief executive. A number of former Baltimore employees have also been appointed to key executive positions within the organisation.

The company, which specialises in the development of security and encryption technology for electronic commerce, has officially changed its name to Baltimore Technologies. Mr Rooney will replace Mr Henry Beker as chief executive of the new entity, while Mr Beker retains his other role as chairman. Since the acquisition of Baltimore, Mr Rooney had been acting as chief operating officer of Zergo.

At the company's annual general meeting, three former Baltimore executives were appointed executive vice-presidents of the new entity. Three senior vice-presidents have also been appointed from outside the company as the Baltimore gets into shape to seek a Nasdaq stock exchange listing at some point.