Quartet Financial Systems Goes From Strength to Strength

London, New York, Paris - 16 April 2008

Mark Sappol joins Founders and Ex-Senior Management of Summit Systems at Quartet Financial Systems

Mark Sappol, a veteran in the financial industry in both sales and professional services, has been recruited to spearhead the growth of the global sales and marketing team. Mark Sappol comments, “I was attracted to Quartet Financial Systems because the company has developed technology in a way that permits IT departments to deliver true functionality to its users, quickly and uniquely. I can see the huge potential in selling component-based software to Tier 1 banks as opposed to packaged applications. In addition, I am familiar with the SOA approach and solutions this company offers, as I worked with the founders before when I was employed at Summit Systems, so I know they can deliver and feel confident that the marketplace is ready for their innovative solutions”

Mark worked previously at Summit / Misys Banking Systems as Director of Customer Support and Consulting Services, Entory AG as Managing Director of Entory (UK), and Intuitive Products International (IPI) / Scrittura as Vice Chairman and Managing Director of IPI Europe. Mark has already made an immediate impact on the business and plans for rapid expansion are in progress in order to meet the increase in demand for Quartet’s software components and innovative solutions.

“Quartet Financial Systems has grown rapidly over the past year and we have clearly established ourselves as a force in the component marketplace for trading floor environments - and getting stronger. With Mark on board, we are confident that our two software components, ActivePivot and ActiveStream, will be well positioned for new opportunities, with even more interest generated within the investment banking community. It is our pleasure to have Mark join us at Quartet” said Xavier Bellouard, a founder and Managing Director of Quartet Financial Systems in London.

Founders and Former Senior Executives from Summit Systems Succeed Once Again
They did it once, so chances were good that they could do it again. And they didn’t disappoint. In December 2005, Allen Whipple (Summit founder and former Managing Director of Summit NY), Kathy Perrotte (Summit founder and former Development Manager and COO of Summit Systems Inc.), Georges Bory (Quotient/Summit founder and former Managing Director of Summit Paris), and Xavier Bellouard (Quotient/Summit founder and former Managing Director of Summit London) left Summit Systems, a company they founded and ran for over 13 years, and formed a new enterprise, Quartet Financial Systems. Along with Quartet’s CTO, Jean Safar (founding developer of Renaissance and former Director of Professional Services at DataSynapse), this new venture was launched to use leading-edge technology to create software component solutions aimed specifically at the trading room environment.

Quartet’s founders have at least twenty years of experience each in developing, distributing, and implementing capital markets systems. Each partner brings specific expertise and in-depth knowledge of capital markets, leading-edge technology skills, and extensive implementation experience. By combining all this unique talent, knowledge and experience into one company, Quartet is best positioned to deliver on the promises made by so many others but never realized. Highly respected and regarded as experts in the field, the Quartet team has built solutions, specifically their two flagship software components called ActiveStream™ and ActivePivot™, which have been embraced and lauded by the capital markets industry.

Quartet continues to grow and bring innovative solutions to the capital markets arena and although their intention was never to build another “Summit Systems”, their new venture is on its way to being as successful, if not more so, than Summit ever was.

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