FirstWave Cloud Technology Limited announced it has appointed US-based technology and technology investment executive Daniel Friel as a Non-Executive Director. Mr. Friel founded Bank of America's Strategic Alliances and Investments group charged with identifying innovative technologies and enabling business unit adoption. As President of Banc of America Technology Investments Inc. and Banc of America Ecommerce Holdings Inc., Mr. Friel managed the investment in more than 40 technology companies in the security, authentication, and payments sectors.

Notable investments ($1 billion + exits) included Signio, an electronic payments gateway which was acquired by VeriSign, Shopping.com, which pioneered online comparison shopping and is now owned by eBay, and Archipelago, the nation's first totally open, all-electronic stock exchange which merged with the New York Stock Exchange. Mr. Friel was SVP and Director of Financial and Economic Analysis at Bank of America, and taught economics at North Carolina State University. Mr. Friel has served as a director, and/or advisor to numerous technology companies, including DxEcosystems, 6fusion, aPersona, CapitalStream, InQuira, Moneta Corporation, Net Direct Systems, Stash Games, & Virtual StrongBox Concurrent with the appointment of Mr. Friel, FirstWave Non-Executive Director Ray Kiley has advised the Board of his resignation effective 23 April, 2024.

Mr. Kiley joined the FirstWave board in January 2022.