Tarek El-Sadany to spearhead significant technology innovation and corporate growth

SAN FRANCISCO—FEBRUARY 07, 2006—Iris Financial Solutions, provider of front- and middle-office solutions to the world’s leading trading and investment firms, today announced that former Oracle senior technology executive Tarek El-Sadany has been appointed senior vice president and chief technology officer, effective February 1, 2006.

“We are thrilled to welcome Tarek to Iris as senior vice president and chief technology officer. He brings more than 20 years of world-class technology leadership to our company and will help us deliver incredible value to our customers through our innovative, high-performance products,” said Michele McGovern, chief executive officer, Iris Financial Solutions. “Tarek’s experience building technology organizations in billion dollar companies and delivering to world-class customers will be invaluable as we bring our front- and middle-office solutions to the leading global financial services firms and do it faster than heretofore possible.”

Most recently, El-Sadany was vice president of global product support at Oracle, the world’s largest enterprise software company. At Oracle, he led the firm’s global product support organization, servicing more than 240,000 customers across more than 370 products. El-Sadany ran a global team of nearly 4,000 people in 55 countries.

Prior to Oracle, El-Sadany founded Silicon Valley start-up, Datacme Corporation, which provides software infrastructure to the enterprise application-development and integration markets. As CEO and CTO of Datacme, he created a solution for domain experts and application architects to compose and automatically render high-performance, model-driven enterprise applications. Datacme is noted for enabling clients to respond quickly and effectively to an ever-changing business landscape.

In addition, El-Sadany was senior vice president of TenFold Corporation and led the development of more than 20 innovative technologies, employed across TenFold’s multiple vertical business units. He was one of TenFold’s first five employees and as part of the executive team, grew the company to more than 1,200 employees with a market cap of more than $2 billion.

“Iris offers a unique and winning combination of applied technology leadership, deep domain expertise and an ability to deliver their products faster than anyone else in the industry. This incredible advantage leaves Iris poised to take an unprecedented leadership position in the financial services marketplace and I look forward to dramatically expanding our technological capacities to drive and support that growth,” said Tarek El-Sadany, senior vice president and chief technology officer, Iris. “It’s this chance to deliver clear value to customers, thereby making an indelible mark in the world of financial services, that makes me so excited to join the talented Iris team.”

El-Sadany holds a Ph.D. in computer science and engineering from the University of Louisville. In addition he holds a Master of Science degree in computer science and engineering from Al-Azhar University in Egypt and a Master of Electrical Engineering degree from Ain-Shams University in Egypt. Further, he has done graduate and research work at the University of Pennsylvania, University of Helsinki and Stanford University.

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