XSP Chief Executive Officer Brendan P. Farrell, Jr. Named Finalist for the Ernst & Young 2011 Entrepreneur of the Year Award

Dublin, Ireland - 16 May 2011

XSP, the global leader in automated end-to-end Corporate Actions solutions, announced today that its Chief Executive Officer, Brendan P. Farrell, Jr., has been selected as a finalist in the 2011 Ernst & Young Entrepreneur of the Year Award. Farrell, a founder of XSP, has led his Company through its continuous successes as the global market leader in the Corporate Actions solutions space despite the challenging nature of automating these transactions and the turbulent economic conditions of the past years.

The prestigious Ernst & Young Entrepreneur of the Year Award has 26 programmes in the U.S. and extends over 50 countries worldwide. This year, Ernst & Young celebrates the 25th anniversary of this programme. The award is divided into three categories including Emerging, Industry and International Entrepreneur with one winner in each category. In addition, an overall winner will be selected at the televised gala awards ceremony in The Citywest Hotel in Dublin in October. The winner will be proclaimed the 2011 Ernst & Young Entrepreneur of the Year for Ireland.

“We are absolutely delighted to firstly congratulate Mr. Farrell on being a 2011 Ernst & Young Entrepreneur of the Year Finalist and secondly welcome him into the Entrepreneur of the Year community. Mr. Farrell was selected as one of the eight finalists for the International Entrepreneur category. The judges were quite impressed with XSP’s successes in automating global Corporate Actions processing as well as Mr. Farrell’s personal accomplishments in international business and his commitment to helping the Irish community,” said Frank O'Keeffe, Partner-in-Charge, Entrepreneur of the Year Programme at Ernst & Young.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “I am truly honoured to be recognised and welcomed by Ernst & Young’s Entrepreneur community and for the opportunity to take part in a celebration of innovation. I am thankful for the dedication my global XSP teams show, day after day, to meet our strategic goals driven by the expeditious changes in technology. This recognition illustrates the impact XSP has had in the financial industry helping over 60 of the world’s largest financial organisations maximise operational efficiencies, increase quality and control, boost staff productivity and improve customer service to all clients.”

It is with the leadership of its Chief Executive Officer that XSP continues to flourish in this highly-complex, niche business. Farrell is a forward-thinking entrepreneur who is driven and determined to deliver the industry’s premier state-of-the-art, automated enterprise-wide technology solution to clients. Through his strong ties to the community in North America as well as his home country of Ireland, Farrell recognises the importance of maintaining a bright future by giving today’s youth the opportunity to succeed and prosper into ambitious entrepreneurs of their own.

Farrell is one of the Founders of XSP and has over 27 years of experience in the financial industry including six years at Financial Information, Inc. as Vice President of Sales and Marketing and six years at The Bank of New York where he held various Officer-level management positions in the Securities Operations Division. He has extensive experience in securities operations management and the development and implementation of automated securities operations data management systems for the financial industry.

Farrell formed IMMRAM, an informal network encouraging social gatherings to help foster and build relationships among the Irish Diaspora community. In 2010, he served on the Dinner Committee of the American Irish Historical Society, which raised over USD $1 Million. He also served as a member of the Chairman's Dinner Committee for the 2011 American Ireland Fund's New York City Dinner Gala which raised USD $3 Million for the Promising Ireland Campaign. He is currently lending his services as a Co-Chair for the upcoming UCD Michael Smurfit Graduate Business School Annual Dinner in New York City.

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