NEW YORK, New York - September26, 2001 - Reval announces the hire of Terry McHugh, who recently joined the organization as Senior Vice President and Head of Sales and Marketing. He comes to Reval from XRTAmerica, where Mr. McHugh was most recently their Chief Operating Officer and Head of Sales. His cash and treasury management expertise greatly complements Reval’s existing knowledge and skills in FAS 133 and derivative portfolio management.
At XRT Mr. McHugh was responsible for negotiating contracts with major corporations, developing strategic alliance partnerships, and leading direct and indirect sales teams. "As we are accelerating our sales growth, Terry's wealth of experience and expertise in treasury sales management is a natural fit," says Jiro Okochi, Chief Executive Officer and Co-founder. "He also brings an understanding of treasury functionality from a corporate perspective, which is important for product enhancements and next-generation system development."
Reval is currently seeing a lot of success with its web-based treasury management product, which features a FAS133 module. As companies are filing their 10-Q’s and 10-K’s, they are appreciating the simplicity and flexibility of Reval’s comprehensive offering. The various effectiveness methodologies and reports allow each company to select how to best apply the FAS 133 statement to its individual hedging needs. There is also a featured FAS 133 Doctor, which is a unique audit compliance and training tool.
As Mr. McHugh states, "I am very impressed with Reval’s treasury management system and have not seen anything which rivals its derivative and FAS 133 capabilities. And with the increasing emphasis on FAS 133, the Reval system addresses a current and critical business need. We will be capitalizing on this trend, as we continue to position the organization for tremendous growth."