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Catalyst Appoints Paul Stevens to Head New Asset Management Division

Clients to Benefit from High-End, High Value Consultancy Services

LONDON, May 3, 2006, Catalyst, a consultancy specialising in complex change programmes including outsourcing, restructuring and large IT initiatives, today announced the launch of its new asset management division. The new division will be headed up by Paul Stevens. Previously CIO at Barclays Global Investors, he brings over 20 years of experience to the company. Stevens is quickly establishing the new division as the trusted advisor to asset management firms faced with complicated change related issues.

The new division will provide solutions to the implementation challenges associated with incorporating OTCs within the existing infrastructure of an asset management firm. Catalyst will also address the developing needs of asset managers to improve portfolio controls around the implementation of more flexible and sophisticated compliance modelling and checking. In addition, Catalyst will work with asset managers to create a cost-effective, trusted golden source of static and real-time data.

Prior to joining Catalyst, Paul Stevens was involved with many high level organisations and global projects. Most recently, as CIO at Barclays Global Investors working between London and San Francisco, he was responsible for running a team of over 450 people spread across five global locations. During his five years at BGI, Stevens developed and implemented a unified global IT group, led the creation and adoption of a firm-wide IT governance process and eliminated over $40m in costs through a rigorous cost-management and optimisation programme. Prior to BGI, Stevens was global head of application development at JP Morgan Investment Management in New York and created and implemented a plan that reduced the annual US $40m IT application budget by 20%. Before joining JP Morgan he was head of custody systems at SG Warburg and was responsible for a team of 35 people who developed and maintained all back office business activities.

Paul Stevens, Practice Leader, Asset Management, at Catalyst comments: “The new division will allow Catalyst’s clients to benefit from leveraging extensive and proven expertise in analysing, designing and implementing large scale change. They can then apply this to their specific area of business. I am very excited by the opportunity to combine Catalyst’s sell-side expertise and systemic change approach with the asset management community. My goal is to grow this group and provide high-end, high-value services to this community and establish Catalyst as the trusted advisor for complex change programmes.”

Greg Davis, CEO Catalyst said: “We are delighted to have someone of Paul’s calibre onboard and we are excited that he has joined the team to spearhead our drive into asset management. He brings extensive sector experience and contacts; this together with our change management expertise and existing track record will form the basis for a truly differentiated offering to buy-side firms. In today’s market place the integration and change within firms can have the opposite of the desired effect and actually slow the growth of a business. Catalysts aim to handle “the difficult stuff” and exploit the benefits of change.”