GENEVA, Switzerland – 23 January, 2006 - TEMENOS Group (SWX: TEMN), a provider of integrated core banking systems, today announced the creation of two new senior executive roles to support the company’s strategic and business development drives. With immediate effect, Mark Cullinane, previously regional director for Asia-Pacific, will become chief operating officer for the group. In addition, Greg Green, previously senior vice president of the Americas, will become managing director, TEMENOS CoreBanking™. The appointments follow TEMENOS’ positive 2005 sales performance and will allow the company to execute its growth strategy with increased momentum.
With direct report to Andreas Andreades, CEO, Cullinane will be responsible for operations across all three regions - EMEA, Asia-Pacific and the Americas - and will head up the product management, development and support, and human resources divisions worldwide. Green will be responsible for all aspects of TEMENOS CoreBanking, including product strategy, product development, project delivery and solutions selling. He will report to Cullinane and join the TEMENOS Executive Board.
Cullinane comments: "We have just finished probably the best year in the history of TEMENOS. We have been able to grow our ILF signings by 47%, outpacing all our competitors and winning deals in all geographies and market segments. As part of my new role, I will ensure that our sales and project execution are consistent and of a high level. I’ll also ensure that our products are in top condition to meet the challenges of the market place in such a way that TEMENOS can consistently outpace competitors and gain market share over the years to come."
Since joining TEMENOS in February 2004, Cullinane has been instrumental in transforming the Asia-Pacific region into an engine of growth and profitability, winning tier 1 and 2 clients across both TEMENOS CoreBanking and TEMENOS T24™. He brings some 20 years of banking software experience to the role.
Green joined TEMENOS in April 2005 and together with Alex Groenendyk, president of the Americas, has helped triple sales in the region for 2005 compared with 2004. He also brings with him 20 years of experience in banking software, including running product, development and delivery operations. Green comments: "For me, TEMENOS CoreBanking represents the most exciting part of the TEMENOS business. Throughout my 20 years in business and with my extensive knowledge of the US market, I have never come across a product that is better suited to the top tiers of the global core banking market, which through my position I hope to revolutionise."
Andreas Andreades, CEO, TEMENOS, says: "2005 has been an exciting year for all of us and reconfirms the opportunities and prospects that lie ahead. These appointments will provide us with that extra drive and ability to strengthen our position as the core banking provider of choice. With the support of Mark and Greg in their new roles, I will now be able to focus on strategy development and the preparation of the company for its next phase of growth."
TEMENOS continues to attract global tier 1 and regional banks as a result of its superior products, TEMENOS T24 and TEMENOS CoreBanking. In 2005, the company achieved US$91 million in Initial Licence Fees (ILF) signings, an increase of 47% compared to 2004. New clients have included Compagnie Monégasque de Banque, RBTT Financial Group, Bank of East Asia and HSBC.
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