In this newly-created position, Falcones' responsibilities include leading Corporate Actions processing review workshops, conducting product demonstrations and providing technical expertise to support all aspects of selling the XSP application. Additionally, Falcones will provide account relationship management support to current clients, to manage the ongoing exchange of information between the client and the Product Management and Development teams.

Based in New York, Falcones will report to Frank Piraino, Senior Vice President of XSP Client Relationship Management and Sales Operations.

"Fred's appointment demonstrates our ongoing commitment to expand the pool of experienced professionals who bring a vast understanding of the Corporate Actions industry and superior relationship management skills for the clients we serve," said Piraino. "Fred has a wealth of Corporate Actions knowledge, specifically in the global custody sector, and is a great addition to the Xcitek team. As with other strategic XSP new hires this year, Fred's appointment signals our continued global growth in the automated Corporate Actions solutions marketplace."

Falcones joins Xcitek from ICS Consultants, where he was Senior Project Manager of Global Custody/Corporate Actions. In this role, he was responsible for developing relationships with sub-custodian banks in Latin America and Europe to stay current with local market practices and monitor global custody assets for institutional clients. He also conducted extensive market research of Global Proxy Data Collection and Quality Assurance in Europe, Asia/Pacific, Africa and Latin America, while developing relationships with issuers and sub-custodian banks in the top 60 markets. Prior to ICS, Falcones was Assistant Vice President of Global Custody/International Trade Settlements at Wachovia Securities, where he was responsible for providing trade advisory services to institutional trust clients. At Research Systems, Inc., Falcones worked in Global Custody/Corporate Actions managing business requirements, upgrades and conversion processes for its international Corporate Actions clients. He also held positions at Clearstream/Cedel Bank, Kidder, Peabody & Co., Inc., Goldman Sachs and Fidelity Investments.

Falcones holds a Bachelors of Science degree in Organizational Management from St. Joseph's College.