Rolfe & nolan Announces Organizational Changes in Chicago and London

Chicago and London - 19 October 2006

Rolfe & Nolan Systems, Inc. (RNSI) today announced various organizational changes, including the appointment of Bob Sylverne as CEO of North American operations. Jim Birney, who served as CEO while Sylverne focused on the initiation of Rolfe & Nolan’s modular, platform-independent middle office technology platform, has taken on the role of Commercial Director for RNSI. In this role, Birney will be responsible for all commercial aspects of the business and will focus specifically on strategic projects involving the growth of Rolfe & Nolan’s business with regard to product innovation and additional participants (e.g. hedge funds, FX) entering the derivatives marketplace. Mark Bohannon has been promoted to Sales and Marketing Director of RNSI with responsibility for all North American Sales and Marketing activities. His promotion comes on the heels of the order routing success Rolfe & Nolan has had under his direction.

Rolfe & Nolan also announced organizational changes in its London office. Martin Loxley becomes Strategic Accounts Director, working alongside Colin Wade until Wade’s retirement in February 2007. Loxley thus becomes responsible for commercial and service dealings with Rolfe & Nolan’s Tier 1 clients, as well as relationships with European exchanges and clearing houses. Lorna Perry succeeds Loxley as Client Services Director, and also joins the European Executive Committee.

Two individuals instrumental in the delivery of Rolfe & Nolan’s Middle Office Technology platform have also been promoted. Patrick Liardet, based in the London office, becomes Director of Middle Office Technology, taking on global responsibility for the teams that build and support the middle office technology platform. Rick Templeton has been promoted to U.S. Director of Middle Office Technology, reporting to Liardet. Both of these promotions follow a very successful year in which Rolfe & Nolan has installed its margin engine at two Tier 1 investment banks and a major hedge fund. Rolfe & Nolan’s margin-based risk management product - Alerts Direct - is now in production at four firms and integration work has been completed. Fees Direct, Rolfe & Nolan’s new sales quotation and fee inquiry product is also now complete and was launched earlier this month to positive industry responses in the US and AsiaPac. The London launch follows on November 9th.

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