Velsys Ltd (formally Velocity Systems) Appoints new Chairman and CEO

London - 29 June 2010

Kevin Ashby joins Velsys as Chairman and CEO

Velsys Limited (formally Velocity Systems International Pty), a leading developer of innovative software that integrates bank, broker and client-side FX dealing technology, today announced the appointment of Kevin Ashby as the company’s new Chairman and Chief Executive Officer (CEO). The change in the management team comes just eight weeks after Velsys announced its company name change, new investment funding and a move of its company headquarters to London.

Well known in the FX trading industry, Kevin brings over 30 years of experience in the technology industry. From 2006-09, Kevin served as Chairman and Chief Executive officer of Saxo Bank's Asia Pacific operations (based in Singapore). Previously, Kevin served as CEO of Patsystems, a UK public company focussed on trading solutions for the derivatives industry. He returned to the UK in 2009 and prior to taking on the role of Chairman and CEO of Velsys Limited, served as Deputy Chairman of FX Architects and as a Senior Adviser to Marlin and Associates, a specialist Investment Bank. Kevin has also held a number of non-executive roles and advisory positions including participation in UK Government advisory committees

New Chairman and CEO Kevin Ashby said, “I am excited to be joining Velsys at this important point in the company's development. Velsys has an excellent reputation for providing FX solutions to major financial institutions and the recent extension of its solutions, to provide a state of the art trading system, is a natural extension of the company's capability. The Board and investors have significant plans to substantially grow the business and I am delighted that they asked me to lead the company.”

“We are delighted to welcome Kevin Ashby as the new CEO of Velsys Limited,” commented Roger Portnoy, venture partner for TL Ventures, and a serving non-executive director for the company. “The board believes his exceptional leadership skills, and previous CEO experience with Saxo Bank, Asia and Patsystems will greatly enhance the ability of the company to become the leading SaaS vendor providing FX liquidity, risk and trade management solutions to leading universal and regional banks.”

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