- New Vice President Business Development for STB USA
- Meeting demands of USA Patriot Act for financial institutions
- Providing regulatory and legislated anti-money laundering solutions
London, England - August 28, 2002 â STB Systems Limited, the leading specialist in regulatory and compliance software, today announced the recruitment of two senior executives to key international positions.
Larry Ostrow has been appointed as Vice President Business Development of STB Systems, Inc., STB's wholly owned USA subsidiary company. Larry has a wealth of experience to bring to STB having previously held senior sales and marketing roles at CBS, Peoples Lottery Foundation, BankServ and Thales Contact Solutions. The appointment strengthens STB's push into the USA at a time when all financial institutions are under pressure to focus on compliance issues. Larry says; "I am delighted to be joining a company that has proven solutions to financial regulation and anti-money laundering, including OFAC processing, which are the highest priority issues for financial institutions in the USA today. After 9/11, and the ongoing roll-out of the USA Patriot Act, all financial institutions have to take action on these issues. STB is uniquely positioned to deliver both Central Bank regulatory and legislated anti-money laundering and anti-terroristfinancing solutions in one project."
In a further move to strengthen STB's international presence, Alan Railton
was today appointed as General Manager, STB Systems (Asia-Pacific) Limited,
STB's wholly owned Hong Kong business. Alan has spent most of the last 30
years in the Asia-Pacific region, with companies such as HSBC, Quotient and
ACT Banking Systems (now both part of the Misys Group), Devon Systems (now
part of the Sungard Group) and Cognotec. His broad business and sales and
marketing experience across the region will be crucial in underpinning STB's
positioning as a truly regional player. In conjunction with this appointment, STB has now established a subsidiary company, STB Systems Solutions Pte Ltd, in Singapore, from where STB will be able to support the South Asia region. Alan will be responsible for both offices. Commenting on his appointment Alan said; "I am extremely pleased to be joining STB. It's an ambitious company with a range of products that have great potential in the immature Asia-Pacific region. Financial institutions in the region are now recognising the benefits of automating compliance solutions and STB is perfectly positioned to deliver its proven and well established solutions to the market."
Group CEO, Michael Thomas, in welcoming Larry and Alan to STB, said; "These
two key appointments, in key financial centres, will help put STB firmly
onto the global stage. I very much welcome the breadth of experience that
Larry and Alan bring to STB and I am sure they will make a valuable
contribution to the continued strong growth of the company."
Larry and Alan will report directly to Michael Thomas, joining Mark Piper,
who has been given wider responsibility in London as Manager of Business
Development for the Europe, Middle East and Africa region.