Algorithmics expands Algo Credit solution team

TORONTO, July 23 /CNW/ - Algorithmics Incorporated, a world leader in credit risk management solutions, announced today it has expanded its world- class Algo Credit solutions team with the appointment of Mark van den Akker as
Solution Sales Specialist responsible for Algo Credit risk sales in North
America.

Dedicated to servicing Algorithmics' growing credit risk client base, the
team has been established to continue the momentum of Algorithmics year-over-
year success. With over 140 clients globally, more than 40 have purchased the
Algo Credit solution. "Despite the soft economic conditions which have
affected many companies in our industry, Algorithmics outperformed the market
with 16% growth worldwide and 14 new clients, many of these in the credit risk
arena" said Dr. Michael Zerbs, Chief Operating Officer, Algorithmics. "We have
a strong commitment to supporting our clients with an experienced and
dedicated credit risk solutions group which is unsurpassed in the industry,
particularly as clients face the evolving requirements of Basel II."

Mr. van den Akker's responsibilities will include working with North American clients to implement effective risk management strategies through the Algo Credit solution. Mark joins other members of the Algo Credit solutions sales team which includes Andrew Munro, Business Analyst; Bart Piron, Solution Sales Specialist (Credit); Bryan Feierstein, Business Analyst; and Steve Rogers, Manager, Professional Services (Credit), based in Toronto, London, New York and Frankfurt respectively. "In assembling this dedicated solution team, we're making a concerted effort to capitalize on and continue the progress that we've achieved in the last year in one of our core competencies," said Nigel Cairns, Vice President of Worldwide Sales, Algorithmics.

"This is an exciting opportunity," said Mark van den Akker. "Algorithmics holds an enviable market leadership position and our team is looking forward to advancing Algorithmics' success in the credit risk management field." Mr. van den Akker comes to Algorithmics after having held senior business development and sales positions with international portfolios at General Electric and a major risk management software vendor.

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