Later this summer, a new chief financial officer will take his spot within the leadership team at FICO.

FICO announced on Monday that the global analytics software company has appointed Michael McLaughlin as its new CFO. According to a news release, McLaughlin will start with the company on Aug. 3

McLaughlin replaces outgoing CFO Mike Pung, who announced his retirement in January. FICO indicated Pung will help facilitate a smooth transition and will remain with the company until Dec. 31.

McLaughlin leaves a position as managing director and head of technology corporate finance at Morgan Stanley, where he has worked for the past 12 years. During his 26-year investment banking career, McLaughlin has advised leading technology, financial services and real estate companies on a wide range of strategic and financial topics, also holding leadership positions at BofA Securities, UBS Investment Bank and Montgomery Securities.

“Michael brings us a wealth of leadership experience at the intersection of financial services and technology, which is FICO’s sweet spot,” FICO chief executive officer Will Lansing said. “The board and our leadership team are excited about this strategic appointment.

“I would also like to thank Mike Pung for his leadership and stewardship over the past 15 years. We wish him well as he transitions to a new phase in his life,” Lansing continued.

McLaughlin also shared about beginning the next segment of his professional career.

“FICO’s industry-leading suite of analytics and decision support tools, combined with its trusted brand and global customer base, uniquely positions the company to drive tremendous value creation in the years ahead,” he said.

“FICO has been a phenomenal success story over the last several years, and I am excited to join this exceptional team,” McLaughlin went on to say.