GFT RECRUITS CONSULTING CHIEF FROM RIVALS CITY PRACTITIONERS

London - 20 August 2007

GFT UK, one of Europe's leading suppliers of innovative IT solutions, today announces the appointment of Paul Thomas as Head of Consulting. Paul has left City Practitioners for rivals GFT and will be heading up the UK Consulting Practice as well as playing a leading role within the European-wide International Consulting team.

Graham Underwood, UK Managing Director commented, “ I am tremendously pleased that GFT has been able to attract someone of Paul’s calibre to help underpin what is an exciting period of growth for the company. Paul will be applying his vast experience and knowledge of the banking sector to GFT’s clients in the UK as well as within European-wide International Consulting team. Needless to say, we are all delighted to have him aboard.”

A mathematician by training, Paul Thomas has been in the financial industry for 25 years, first entering investment banking as an investment analyst the early 80s. He comments on his new appointment, ““GFT has solid credentials and great pool of talent and expertise. It also has a very attractive three-tier outsourcing proposition for the financial services sector. The company has a great story to tell and I’m relishing this new challenge.”

Paul’s career spans many big names; BNP, Dresdner Kleinwort and WestLB where, as CIO, he made the new investment banking operation fit for purpose in an increasingly aggressive global market.

It was whilst at Royal London working as an asset manager that Paul became progressively more involved in IT. This was followed by a period at Interactive Data (then a subsidiary of Chase) and experience at Reuters and PWC. His extensive banking experience heralded a return to technology consultancy where, for the last few years, Paul has been at City Practitioners as a Managing Practitioner, building its Banking Architecture practice and leading major client change programmes.

Paul Thomas describes his biggest achievement as establishing investment banks in new market sectors or locations, including integrating the existing technology to ensure a positive outcome. He says, “investment banking is a very dynamic sector and there are specific challenges in getting value out of technology investments. I get a real buzz from the successful implementation of a significant change programme.”

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