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David Adams joins GBST board

GBST Holdings Limited (ASX: GBT), a leading provider of software and services for the financial services industry, today announced the appointment of Mr David Adams as an independent non-executive director of the company.

Mr Adams brings to GBST a wealth of experience in all facets of the financial services industry. He was a director of Macquarie Bank from 1983 to 2001, and served as a member of the Bank’s executive committee and IT committee. He joined the Bank’s predecessor Hill Samuel Australia in 1980, where he established the first cash management trust, and started Macquarie Bank’s funds management business. He is also a former director of the Over Fifties Investment Group.

In 2000 and 2001, Mr Adams was chairman of the Investment & Financial Services Association, the national peak body that represents the retail and wholesale funds management, superannuation and life insurance industries.

Mr John Puttick, chairman of GBST said, “David’s financial industry knowledge and contacts will be a great asset for us as we continue to expand our share of the financial services market. His experience will help us to ensure that we anticipate changes in the marketplace and develop new services that add value for our clients. The expansion of the company’s board recognises our growth prospects and opportunities for future development.”

Mr Adams said, “I look forward to contributing to the board of GBST and the company’s growth. Turbulent markets have increased the focus on financial businesses’ need for efficient, accurate processing and risk management systems. There is significant opportunity for companies such as GBST, which has a strong track record in the technology and financial service industries. This is particularly the case in the wealth management sector, where progressive use of WRAPs is driving demand for integrated reporting services in Australia and internationally.”