Management Changes at Summit

Misys Banking, the global banking software products and solutions business, today (21 January 2005) announced changes in the senior management of its treasury and capital markets operation Summit Systems.

Marc Coutelier has been promoted to Managing Director of Summit’s Paris Business Centre, covering Continental Europe. Marc has been with Summit since the mid-1990s and has held a variety of senior level positions, including, most recently, MD of the Asia-Pacific region, which remains under his direction in conjunction with his new role.

Mary Harris has been appointed Managing Director of Summit’s New York Business Centre. Mary has been with Summit since 1992, and has been involved in nearly all areas of the business over the years. Most recently, Mary was Executive Director, Client Services.

Mark Cappell joins Summit as Managing Director of the London Business Centre. Mark has a strong background in financial services software, including six years as Managing Director of Smartstream Technologies. In an earlier role he was Head of Business Development at Bank of America’s capital markets business. Mark’s extensive client relationships in Summit’s market space and his background as a trader make him a very strong addition to the team.

Ivan Martin, CEO, Misys Banking, said: ‘In Misys it is all about talent. So I am delighted with these appointments as they reflect our aim of developing, retaining and promoting talent within the business, as well as bringing in quality people from the industry. The three new Managing Directors now have increased responsibilities and I know that their commitment, drive and enthusiasm will help Summit achieve even greater success.’

Ivan Martin will take on the role of CEO of Summit, in addition to his Misys role. Hervé Baulme, Summit’s CEO, is leaving the business after a period in which he will help with transitional arrangements. Xavier Bellouard and Georges Bory, former Managing Directors of London and Paris respectively, will also be leaving Summit after a transitional period. Allen Whipple, an original founder of Summit, is staying with the business for the foreseeable future as deputy CEO.

Hervé and Georges have been with Misys since its acquisition of Summit in 1997 and were expected to leave at some point. Ivan Martin said: ‘Their departure has been the subject of discussion between us in the past and arrangements were put in place some time ago to cover this eventuality. Hervé, Georges and Xavier have all contributed to the establishment of a strong, successful business in Summit and made a considerable contribution to Misys. I thank them for their past efforts and wish them the very best for the future.’

He added: ‘Summit has a world-class team of professionals, a very strong senior management team, market-leading products and a high-calibre customer base. With the new management team in place, we expect the pace of development in capital market and treasury application software to accelerate. We will continue to build on Summit’s strengths and are committed to ensuring that Summit customers continue to receive the highest standards of service, support and product evolution they have come to expect.’

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