Former SWIFT Director Joins EastNets to Expand European Sales Operations

Waterloo - 6 October 2009

EastNets, a leading global provider of compliance and payments solutions and services for financial institutions and corporates, announced today that Marc Braet has joined the company as Head of Sales, Europe to spearhead growth of the company's financial crime and SWIFT payment solutions. Marc is responsible for leading the company’s European sales organization and is based in the company’s European headquarters in Waterloo, Belgium.

Marc Braet joined EastNets from SWIFT, the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative enabling its customers to automate and standardize financial transactions, thereby lowering costs, reducing operational risk and eliminating inefficiencies from their operations. Over 8,300 banking organizations, securities institutions and corporate customers in more than 208 countries use SWIFT every day to exchange millions of standardized financial messages.

“Marc brings over a decade of experience leading successful sales organizations and has a strong background in financial services and the payments arena,” said Hazem Mulhim, CEO of EastNets. “We are confident that Marc will be instrumental in helping EastNets manage our growth while maintaining our commitment to providing cost-effective, rapidly deployable financial crime, compliance and SWIFT payment solutions and services to financial institutions and corporate clients.”

“EastNets’ current momentum in the marketplace and in-depth SWIFT and Financial Crime expertise provide a unique market opportunity for continued and future growth of its software, solutions and services,” said Marc Braet, Head of Sales, Europe, of EastNets. “I am delighted to be part of EastNets’ team, and to help our clients and the financial services market to effectively manage enterprise and payment risk, and meet evolving regulatory demands and business needs.”

During his 13 years at SWIFT, Marc Braet headed the sales staff covering the Benelux, Nordic and Baltic countries with an annual revenue responsibility of +50 MEUR, and was responsible for various strategic sales activities including building a strong network in Northern Europe, reorganizing commercial teams for improved alignment and performance, and managing the successful roll-out of industry programs, such as SEPA, for SWIFT. Prior to joining SWIFT, Marc held several positions at TNT Express Worldwide. Marc holds a University Degree in Economics from Katholieke Universiteit Leuven.

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