Terry McCaughey Joins Citisoft

- Former Head of Global Investor Services at HSBC joins Citisoft as Senior Advisor

February 25th, 2004 - London - Citisoft plc, the specialist investment management consulting firm, has appointed Terry McCaughey as a Senior Advisor to the Board of Directors. Terry has an outstanding track record in the financial world and will advise Citisoft in matters of business strategy.

As the head of global investor services at HSBC, he oversaw the development of the custody operation into a $1 trillion business over the 15 years he spent with the group, and set up Global Fund Services in Edinburgh. Since then he has held other senior roles including Chief Operating Officer in Europe for Deutsche Bank's global securities services.

Terry comments, "Citisoft is one of the world's leading investment management consultancies and its reputation for independence and in-depth experience is unrivalled. With Citisoft's rapidly growing Boston office and recently established New York presence, the opportunity to help steer the growth of Citisoft both in the UK and the US will certainly be a stimulating challenge."

In turn, the board of directors of Citisoft is extremely pleased to add further talent to its specialist team. Cosmo Wisniewski, Executive Director of Citisoft plc and a Director of Citisoft Inc. adds, "The Citisoft brand is poised to take advantage of the years of mutually beneficial relationships with our clients in the UK and Europe and now, increasingly, in the US. Terry brings a new dimension to our vision, and will provide us with extra momentum to reach our ambitious growth targets globally."

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