Microsoft Adds Two Senior Executives to EMEA Financial Services Team

London - 13 December 2006

Michael Rasch and Andreas Drescher to drive banking sector and partner alliances.

Microsoft Corp today announced the hire of two senior executives to its Europe, Middle East and Africa (EMEA) Financial Services Industry team. Michael Rasch joins Microsoft as industry director of Banking and Andreas Drescher takes the role of director, Global Partners, Financial Services Industry.

Rasch, who was previously partner at IBM Business Consulting Services and spent 12 years as a consulting partner at PricewaterhouseCoopers, has been brought on board to help banks create and sustain profitable customer relationships, develop innovative products and services and improve operations through banking technology solutions. He will be responsible for establishing, driving and coordinating the overall banking strategy for the EMEA region.

As director of Global Partners, Drescher will manage Microsoft’s strategy and sales execution with global financial services partners to deliver business value to customers through comprehensive technology solutions. Previously Drescher was Financial Services director at Microsoft in Germany, having joined the company in 1998 as director of the south-west region of Germany. Before working at Microsoft, Drescher spent 14 years at Hewlett Packard in a variety of roles, including managing the company’s worldwide SAP business.

Anders Abrahamsson, managing director for Microsoft EMEA Financial Services, said, “We are delighted to welcome Michael and Andreas on board. The banking sector has been dramatically transformed over recent years. This transformation has seen consolidation and deregulation open doors to new competitors, a proliferation of new channels, a more rigorous regulatory environment, and increased complexity in creating and selling new financial products. At the same time, this transformation has opened up new markets with significant opportunities for banks who harness change as a competitive advantage. Microsoft and its global network of financial services partners are delivering technology solutions that transform the way financial institutions improve customer experiences, differentiate themselves in the market and attract and retain customers more profitably than their competitors. Michael and Andreas will be instrumental in driving this strategy with our partners to enable financial institutions across the EMEA region."

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