FRSGlobal appointments - Strengthened global position and growth in Asia Pacific

London, Singapore, Hong Kong - 6 March 2008

FRSGlobal is pleased to announce three key appointments that reflect its continued expansion in the Asia Pacific region and its guarantee to support global regulatory reporting platforms for multi-country financial institutions.

• Stephen Thurley, Vice President Asia Pacific and Japan
• Shawn Paul, Director Professional Services and Product Development
• Bob Suvan, Vice President Global Business Development

FRSGlobal saw a 38% increase in revenue in 2007 and is on track to continue this outstanding growth pattern, a key part of which are its global teams of regulatory specialists.

Steve Thurley heads up the team from the Singapore office as Vice President for the Asia Pacific region, including Japan. Steve Thurley joins from Calypso Technology where he also looked after Asia Pacific. Previously Steve was at Fiserv CBS where he was Sales and Marketing Director. Steve joins FRSGlobal with over twenty years’ experience in providing banking solutions to tier 1 and 2 banks in Europe, Asia and the Americas.

One of the key areas of expertise driving the company’s growth is its unparalleled experience of implementing regulatory reporting solutions to financial institutions; currently in over 30 countries. With a growing number of banks in the Asia Pacific regions and the increasing level of regulatory reporting requirements, FRSGlobal is poised to dramatically expand its product coverage. It is uniquely placed to liaise with the regulators in the local regions through its banking user base and global experience of implementing regulatory reporting solutions for a plethora of regulatory bodies.

Steve Husk, CEO of FRSGlobal said: “It is great news for FRSGlobal to have Steve on board. We’ve worked hard to ensure that the best people in the business are part of our team, to provide our customers with the best possible service in the industry. Shawn and Bob have both overseen exceptional growth in their businesses through ensuring that the customer comes first and they bring this drive to FRSGlobal. The regulatory demands upon the banking industry are increasing on a daily basis worldwide, and will be accelerating in Asia Pacific, hitting businesses’ financial, knowledge and people resources. Our appointments reflect this - by taking the weight of this work upon our shoulders we are seeing business opportunities multiply.”

Steve Thurley said: "I have been fortunate to join FRSGlobal at a time when the financial reporting in Asia Pacific is gaining a great dealt more attention and scrutiny from the authorities and this is expanding our business dramatically. We are experiencing much more of demand for our products. I have been in Asia Pacific fifteen years and there is now certainly more activity in the regulatory and compliance area and this demand bodes well for FRSGlobal.”

Shawn Paul joins as Director Professional Services and Product Development. Shawn previously worked for Calypso Technology where he was one of the founding members of their Asia Pacific presence. Shawn played a key role in ensuring the success of projects in Australia, Japan and Singapore. More recently he helped open strategic new accounts in Dubai and India. Prior to that Shawn was a very successful manager working within the Australian banking sector for the Commonwealth Bank. Shawn brings a strong understanding of the financial markets, a working knowledge of technology projects and a track record in building high energy teams to FRSGlobal.

“I see a strong Asian Pacific strategy as being a key component to the continued success and growth of FRSGlobal. In Asia Pacific the synergy of partnership, commitment, investment, long term relationships and our value proposition – being the only truly global solution for regulatory and compliance reporting – will be the driving force in what I believe to be exponential growth over the next five 5 years. I am excited to be working with this dynamic team to make FRSGlobal the choice solution for Asia Pacific financial institutions,” said Shawn.

Bob Suvan, Vice President Global Business Development, joins FRSGlobal to oversee the growth strategy in all the geographies. A native of Canada, he started his career at Ernst & Young Management Consultants in their technology practice. Moving to Europe in the early-90’s, Bob was involved with several high-growth technology-centric firms including Sybase and Cambridge Technology Partners. Bob formed an integral part in helping their clients rapidly realizing significant business value from the technologies and products on offer. Bob joins FRSGlobal following more than five 5 successful years at Hewlett-Packard where he oversaw the growth of the services business for HP’s EMEA Financial Services corporate accounts.

Bob said “FRSGlobal has a truly unique set of differentiators. The global nature of the DataFoundation regulatory repository is years ahead of anything in the marketplace. Coupled with the fact that we have deep regulatory and compliance expertise across such a vast number of countries and regulators, all housed under one roof, offers real value and leverage for our clients. I am excited to join the strong leadership team that Steve Husk has assembled to harness this power for the benefit of our clients and partners around the globe.”

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