This announcement comes as part of Revalâs global expansion strategy, focusing on hiring industry professionals with extensive hedge accounting experience in territories that are showing significant growth potential. Reval has added Blaik Wilson, George Chapman, Bevan Webster and Abhishek Maiti to their Asia Pacific Operation.
âReval is committed to remain the market leader for providing hedge accounting and risk management solutions,â said Jiro Okochi, CEO and Co-founder of Reval. âWe view Asia-Pacific as a key area of growth and are committed to a long term strategy for the region. I am delighted that we were able to add such experienced talent to our team and look forward to drawing on their expertise as we grow and develop within the region.â
Blaik Wilson joins Reval as an Asia Pacific Solutions Consultant and marks the start of Revalâs New Zealand presence. Blaik has over 12 years experience in the financial services and treasury industry and was the recipient of the New Zealand Young Chartered Accountant of the Year award in 2006. Wilsonâs expertise in IAS 39 has resulted in the publication of whitepapers and articles on IAS 39. George Chapman, who has 10 years of financial services and treasury experience joins Reval as Director of Sales, APAC and is responsible for business development in the region. Both Wilson and Chapman previously worked in the financial services sector for a hedge accounting solutions provider and add to Revalâs extensive domain expertise.
Bevan Webster and Abhishek Maiti have joined Revalâs Professional Services team, who primarily assist clients to comply with valuation and hedge accounting requirements, such as IAS 39 and IFRS 7, with the use of Revalâs solutions. Webster brings over eight years of global accounting and treasury experience, with strong commodities and interest rate derivatives expertise. Maitiâs extensive derivative knowledge gained through working in corporate treasury will add great value when implementing and assisting Revalâs clients in the region. In 2008, Reval has seen an 814% growth in the Asia Pacific region over the same period in 2007. The addition of these new team members brings the number of Reval employees in Asia Pacific to over 40.
Tony Singleton, Managing Director APAC at Reval said: âThese new additions to the Reval team will be invaluable as we grow further a field in the Asia Pacific region. Our best of breed solution coupled with Revalâs renowned hedge accounting expertise makes us the partner of choice for corporations and financial institutions in Asia Pacific looking to achieve hedge accounting and independent valuation services.â
In what has become a very challenging economic climate when many companies are contracting, Reval is in a unique position to expand and continue its growth strategy through leveraging its geographically diverse client base and regional domain expertise. Reval is a privately held company backed by two premiere US Venture firms, Northbridge Venture Partners and Commonwealth Capital Ventures, with over $3 billion under combined management.