David Reeve Joins Citisoft to Boost Retail Practice

- New hire will enable consultancy to further service growing trend in outsourcing retail investment management administration to third party administrators

14th August 2002 - London - Citisoft, the specialist investment management consultancy, has today announced the appointment of David Reeve as Senior Consultant within its Retail Practice. David will be responsible for providing Citisoft's growing retail investment management client base with consultancy and project management services.

David's experience includes work at Bank of New York Europe, where as Head of RUFUS Computer Services he was responsible for more than 70 staff and Schroder Unit Trusts Ltd, where he was responsible for two implementation workstreams for the GFAS retail funds administration system, including document design, business analysis, coding, testing and fulfilment. David possesses extensive project management skills and experience, particularly regarding Unit Trusts, PEPS and ISAs. David also has a strong technical knowledge of Internet/Web/LAN and WAN hardware and configuration for real-time transaction processing.

David Reeve comments: "I am very pleased to be joining Citisoft. As the leading independent investment management consultancy, the depth of knowledge and experience within the company is unrivalled, the consultants already here are at the top of their profession."

"The majority of my career has been spent in the retail investment management industry and I am looking forward to putting my knowledge to good use by adding to the high quality of retail consultancy services that Citisoft clients have become used to."

David Emsley, Head of Citisoft's Retail Division, comments: "Over the last six months we have seen a marked increase in demand within the industry for outsourcing retail investment management administration functions to third party administrators (TPAs). There appear to be a number of different factors contributing to this trend, including consolidation of multiple service providers, the increasing demand for operational cost savings and the need to replace old, outdated systems."

"We have recently represented both sides of the outsourcing equation, investment managers and TPAs, and David's appointment is another positive step for Citisoft, increasing our knowledge base and capacity to assist clients with their varied outsourcing arrangements. We are delighted to welcome David and are sure our retail clients will soon begin to benefit from his vast experience."

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