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Temenos Strengthens Global Partners Channel with Senior Appointment

Temenos (SWX: TEMN), the provider of integrated core banking systems, today announced the appointment of Mike Head as Global Partners Director.

In this role, Head will be responsible for developing and driving Temenos' global partners program to increase the company's reach and capacity to make available and implement TEMENOS T24 (T24) and TEMENOS COREBANKING (TCB). Head will be charged with the creation of a number of strategic partnerships that will bring Temenos' products and services even closer to the market. He will report to Mark Cullinane, Chief Operating Officer, will be a member of the Management Board and will be based in the company's London office.

Head comments: "Temenos is a leading global player with continued success and an impressive, year on year growth rate. My role will be to bring to the core banking market the practices and the discipline that a partners program requires for success and which are already prevalent in other market verticals. This is an incredibly exciting business opportunity which I am delighted to take."

Head has over 16 years of experience in the software industry, in-depth knowledge of partner strategy development and proven, reputational business success. Prior to Temenos, he was responsible for the start up of Pecaso, an international software implementation and development organisation, where he successfully grew the business from zero to over 300 employees and more than 2,000 customers in seven years. During his time at Pecaso, he developed significant partnerships with many management consultancies and system integrators, including Logica, Deloitte and Accenture. Prior to this, Head held several senior positions with SAP across Europe, the last being Program Director. In this capacity, Head was responsible for building the reseller partner channel which grew from 40 resellers in Germany to 183 across Europe and serviced over 1,000 new customers for the company.

Andreas Andreades, CEO, Temenos, says: "This is an exciting period for Temenos. We already lead the core banking market predominantly through our direct channel, serving over 600 clients in 120 countries through our 44 offices and more than 3,000 professionals. We are now looking to extend our leadership even further by becoming the preferred partner of the world's largest systems integrators. The maturity of our Model Bank approach as well as the significant size we have now reached will allow us to invest in this channel. I am fully confident that Mike will be highly successful in developing our partners program. Mike's track record is impressive and I am delighted to welcome him to Temenos."

In the 12 months up to 30 June 2008, its most recent reporting date, Temenos achieved USD161.2 million in license revenue and USD380.4 million in total revenue, representing increases of 46% and 48% on the previous twelve months, respectively. Temenos continues to enjoy strong growth across all regions thanks to superior products and services and a compelling investment and product roadmap, the outcome of its high R&D investment, which at around 20% of revenues per annum is significantly ahead of peers.