TerraNua Enters US Market with Leading-Edge Compliance Management Product

New York, NY - 7 November 2007

TerraNua, a leading provider of business consultancy and software solutions headquartered in Dublin, Ireland, today announced the introduction of MyComplianceOffice, a comprehensive software solution that enables U.S. wealth management firms to manage compliance programs effectively and efficiently to reduce the risks and costs related to these activities. The firm also announced the opening of its new U.S. offices at 100 Park Avenue in mid-town Manhattan as well as the appointment of Timothy Kennedy as vice president of sales and marketing for the new product.

MyComplianceOffice provides proof of compliance by memorializing compliance activities and providing audits of ongoing and ad-hoc compliance management activities and decisions such as attestations, policy review and updates, personal trading, licensing and registrations, external gift management and suitability monitoring. The solution presents a real-time dashboard of compliance status, providing highlights of issues with a full drilldown to related details. It also provides personalized pages for individual employees to monitor assigned tasks and events and to submit information, such as “pre-trade clearance” or “outside interest” forms, for approval.

As an affordable outsourced solution, MyComplianceOffice allows customers to avoid substantial upfront capital expenditures in technology and other infrastructure related to creating and maintaining in-house solutions, freeing up time, resources, and money that then can be redeployed in support of the organization’s core functions. The product, which can function as a stand-alone system or be fully integrated with customers’ existing systems, has a short implementation time of just a few weeks and may be customized to suit customers’ individual needs.

“As the regulatory environment within the financial services industry becomes increasingly more complicated, the risks associated with non-compliance are increasing exponentially. TerraNua recognized the need for a more flexible, comprehensive compliance management product aimed at the investment advisor and U.S. wealth management market,” said Brian Fahey, managing director, compliance solutions for TerraNua. “Financial services organizations not only need to be compliant with the regulations, but also must be able to demonstrate a culture of compliance that incorporates best practices. MyComplianceOffice provides investment advisors and broker/dealers with comprehensive, innovative tools and services to address their complex compliance needs.”

“Given the tremendous demand for a straightforward, technology-based compliance management solution, we expect to ramp up quickly,” said Timothy Kennedy, vice president of sales and marketing for TerraNua. “By year-end 2008, we expect to have a solid foundation of customers in the hedge fund and registered investment advisor markets and our New York office will continue to expand to support this growth.”

Kennedy most recently served as vice president of business development at Eze Castle Integration, a provider of technology solutions to investment management firms. At Eze Castle, Kennedy was responsible for sales to alternative investment companies such as hedge funds, private equity firms and broker / dealers. Prior to joining Eze Castle, Kennedy spent nine years in San Francisco, CA and Westbrook, CT with IPC Information Systems, a provider of trading floor solutions and services.

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