IRIS FINANCIAL ENGINEERING ENGAGES VP OF PRODUCT STRATEGY AND EXPANDS GLOBAL TEAMS

- Use of Component Services Architecture (CSA)â„¢ to be pushed forward
- New York and European New Business Development teams expanded

Monday January 5th 2004 – Iris Financial Engineering, a leading provider of component-based financial software solutions for the world’s largest investment banks, has again expanded its team following last quarter’s $11m investment from Apax Partners’ funds.

Aviv Handler has been appointed Vice President of Product Strategy, and Naoko Fader and Ron Raman comprise the new global business development management team. These appointments are the latest step in executing Iris Financial Engineering’s planned expansion of its product suite built on the CSA platform, and reflect the demand for tailored software products from the major global trading institutions.

London - Aviv Handler joins to accelerate the development of the CSA platform and products based upon it. He spent several years at SunGard Trading and Risk Systems as a product manager for Panorama, and represented SunGard on standards bodies such as FpML and ISO15022. He joins from KW International, where he set their product strategy and supporting processes, and built the business analysis and documentation teams.

"This is an incredibly exciting time to be joining Iris Financial. The company’s
domain expertise, together with its new-generation technology, means that
we can build solid products that address the market’s needs quickly. We are
leading by delivering world-class reliable solutions built out of components
that are specifically designed for today’s high volume market." … says Aviv.
London - Naoko Fader becomes responsible for new business development in the
UK. Prior to joining Iris Financial, Naoko was Head of Sales at Xenomorph and has over 10 years’ sales and business experience in the fixed income market, including a directorship at Lehman Brothers and senior management position at Tokyo-Mitsubishi International.

New York - Ron Raman brings over 8 years’ software business development
experience to the New York office, having specialised in selling software solutions to global financial and energy markets, most recently with Caminus Corporation. As Director of Business Development, Ron will be responsible for expanding Iris Financial’s presence in the US financial markets.

Michael Laven, CEO, comments:
"These hires place us well to scale the company and its product line. Our clients’ needs are rapidly evolving, being pushed by many factors such as the increased use of electronic markets. Building CSA products allows them to compete effectively, maintain a competitive position and rapidly evolve in the
market"

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