BUTTONWOOD TREE LAUNCHES MANAGED SERVICES CONSULTANCY PRACTICE

Mike Davies brings extensive experience to business transformation consultancy

London, UK, 18 May 2004 - Buttonwood Tree Group, the rapidly expanding executive level business consultancy and solutions company, today announced that Mike Davies will head up its new business transformation consultancy
practice focused on managed services. The practice will support clients that
want to optimise key business areas including infrastructure management, IT
testing and validation, market and reference data environments, and Agent Bank network management.

The managed services practice follows the successful business model set in the rest of the Buttonwood Tree Group, being practitioner-led with an experienced consulting team. The managed services practice offers modular support to institutions that require increased business efficiency and sustainable cost reduction. Options range from complete outsourcing of an IT environment through to specific consultancy services such as management of IT validation projects. Buttonwood Tree's flexible pricing allows clients to choose the service most suited to their needs.

Buttonwood Tree has recently worked with one of Britain's largest banks to help optimise its business infrastructure. By working closely with the bank to understand the synergies that exist between different infrastructure components, Buttonwood Tree consultants were able to identify practical opportunities for change in line with the bank's growth strategy. Buttonwood Tree helped the bank to achieve significant cost reductions across its entire business infrastructure including its Agent Bank network.

Mike Davies joined Buttonwood Tree in 2003 to head the managed services practice. Mike has over 20 years IT experience in investment banking. Before Buttonwood Tree, Mike was the managing director of Cresta Testing Ltd, an IT testing consultancy, where he lead successful company development in the US, Nordic and UK regions. Previous roles include executive director at UBS Warburg, managing cross border application developments; project director for global SAP roll out; and EMEA vice president project director for Chase Manhattan Bank on the Y2K project.

"We understand that many financial institutions want to concentrate on their core business and seek expert advice and services to manage the technology related activity. By working closely with business heads we can identify areas within a business or department that can be streamlined or outsourced to improve operational control, reduced exposure to risk and improve overall performance. Our business-led practitioners have completed a number of managed services assignments at global financial institutions with measurable cost advantages," comments Mike Davies, Head of Managed Services, Buttonwood Tree Group.

"Buttonwood Tree helps organisations build adaptable enterprises that respond quickly to change and opportunity. Our leading industry practitioners deliver well defined and expert consultancy services, which support strategies and help firms manage IT costs to a known expense," said Nigel Walder, CEO, Buttonwood Tree Group. "Mike Davies is a valuable asset to Buttonwood Tree and will drive the managed services practice forward. With increased pressure on financial institutions to continuously improve operational efficiency, we see high demand for our expertise."

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