Headstrong Strengthens Leadership in Financial Services Domain

5 August 2008

Headstrong, a global consultancy, today announced the hiring of Noreen Iles and other key former leaders of Freddie Mac’s specialized Technology Solutions Unit (TSU). The assimilation of a number of the TSU’s Eagle Investment and Misys Summit Debt & Derivative systems delivery team enhances Headstrong’s strategy of building Platform Centers of Excellence (P-CoE) in key financial software instruments to meet high market demand for domain-focused capabilities.

The acquisition adds depth, expertise, and new services, particularly in Eagle and Summit software solutions, to Headstrong, while building upon the company’s capability in providing end-to-end solutions to financial services clients. In particular, it reinforces the company’s talent pool by adding more than 40 differentiated experts in investment accounting portfolio and debt & derivatives portfolio systems implementations.

“Noreen and her team are a great fit with Headstrong’s focus on financial services and Platform Centers of Excellence. They will strengthen the current P-CoE to cater to all front, middle and back office applications,” said Arjun Malhotra, Chairman and CEO of Headstrong. “Headstrong’s focus has been on providing domain-led IT services to Capital Markets and today we are recognized as one of the key players in this area.”

“Our growth related investments will continue to focus on building our expertise and domain differentiators,” Malhotra added.

The TSU’s proven expertise in the Eagle investment system, the Summit debt & derivative system, Pega Systems and automated underwriting capabilities for mortgage processes, combined with Headstrong’s solid financial services consulting practice, will provide customers with the leading technology and services available in the market today. The team, led by Noreen Iles, maintains a 10-year plus working relationship, with extensive experience in providing IT solutions to the financial services, e-commerce, and retail industries. Iles, who has led successful completion of large, multi-year projects at Freddie Mac, will continue to manage the Chicago-based near-shore center for Headstrong. She is a recognized technical expert and corporate leader, and is a “Women in Technology International Leadership in IT” award recipient.

“We are excited to be part of Headstrong,” Iles stated. “Our key strengths and capabilities and commitment to client service complement each other and now we have a more complete value proposition.”

“By combining our vast experience in portfolio accounting systems in software implementation projects with Headstrong’s domain-led distributed delivery model, we should have a strong offering to serve our clients and grow the business,” she explained.

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