Fenergo Enhances Board of Directors With Two Financial Software Industry Veterans

Dublin - 12 June 2012

Former Norkom Technologies CEO, Paul Kerley, becomes Non-Executive Director and former Detica NetReveal Group Financial Controller joins as Chief Financial Officer.

Fenergo, a global leader in client onboarding compliance solutions for the financial services industry, has today announced the appointment of two key additions to its board of directors. Former CEO of Norkom Technologies, Paul Kerley, joins Fenergo as non-executive director, along with Ruth Fletcher as Chief Financial Officer and Company Secretary, formerly Group Financial Controller of Detica NetReveal.

Having served as the CEO of Norkom Technologies from its inception in 1998 until its acquisition by BAE Systems for EUR217 million in 2011, Kerley's experience of the global financial services software industry will aid Fenergo's ambitious global growth strategy. During his tenure in Norkom, Kerley pursued an aggressive growth strategy, achieving year-on-year profitability through organic and acquisitive growth, taking the company public in 2006 following a successful IPO. Kerley currently serves as non-executive director for two Irish software companies, SmartBin and MindConnex Learning.

With over 20 years' experience, Fletcher was Group Financial Controller for Detica NetReveal, formerly Norkom Technologies, where she had overall responsibility for financial performance reporting, global tax compliance, budget setting, and revenue and backlog forecasting. During her tenure in Norkom, she played a strategic role in the sale of the company to BAE Systems in 2011, was heavily involved in the takeover of two companies in 2004 and 2007, and played a key role in the preparation of the company for its flotation on both the Irish (ESM) and London (AIM) stock exchanges in 2006. Fletcher is a Fellowship member of the ACCA and holds a diploma in Management.

According to Marc Murphy, CEO of Fenergo, "I am delighted to announce the appointments of both Paul and Ruth to our board of directors. Fenergo has ambitious plans to expand our global footprint in the financial services industry and become a global leader in client onboarding lifecycle management software solutions for corporate, investment and private banks. With their vast experience scaling financial software companies into global market leaders, Paul and Ruth will play a vital part in shaping the future of Fenergo.

This announcement follows the recent appointment of Harold Perez as Head of Product Management for Fenergo.

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