Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announces that it has appointed Martin Frick as Head of APAC, based out of the group's Singapore office.
Martin brings over 20 years of relevant experience in banking and banking technology. In this career, Martin has been a Senior Executive of Raiffeisen Bank in Switzerland as well as Executive Director and Head of Custody Processing Service at UBS. More recently, Martin has been working in banking technology and was previously Managing Director of Asia Pacific for Avaloq. He is a qualified economic computer scientist, and has an MBA.
Temenos already has a very strong reputation and track record in the APAC market. In 2013, the APAC business grew licensing by 19% and now boasts revenues of over USD100m, serving more than 150 customers, including Bank of Shanghai and Bank Sinopac. Martin's appointment will strengthen Temenos' APAC team, positioning it to take advantage of the very strong growth being seen in the market as a whole, with industry analyst Gartner forecasting the APAC banking-software market to grow at a CAGR of over 9%, reaching USD 2.7 billion in 2017.
Martin Frick, Head of APAC, Temenos, commented: "I am delighted to have been appointed to head up Temenos' APAC region. My decision to join Temenos was based on its reputation as the market-leading vendor of banking software across the retail, microfinance, Islamic, corporate and private wealth markets. It was also influenced by Temenos' strong global presence, its market momentum, its industry-leading levels of R&D and its multi-product set. I am proud to be part of a company that has such a good standing within banking technology, and such a great future ahead of it."
 Source: Gartner, "Forecast Pivot Table: Enterprise IT Spending by Vertical Industry Market, Worldwide, Banking and Securities, 2011-2017", January 2014