In this position Penman will be responsible for overseeing the product strategy and design of software solutions for the Wealth Management and Investment industry and spearhead Octavian's technology vision.

Penman, veteran technology executive, brings 16 years in financial services technology and executive experience to Octavian. Prior to joining Octavian, Penman was most recently Senior Vice President with Bank of America (BOA) and its Lead Technical Architect for BOA Separately Managed Account (SMA) and Wrap Account platforms. During Penman's five years with Bank of America, their SMA program grew to become one of the largest in the USA with over $37 billion in managed account assets. Prior to Bank of America, Penman served as Vice President of Brokerage Technology at Wachovia Securities and held several senior positions at industry leading technology companies.

Penman is also a current member of the Money Management Institute's (MMI) Operations and Communications Standards Committee, and the co-chairperson of its Technical Working Group.

"Jim is a highly skilled executive, an outstanding technology professional, and a welcome addition to our executive team," said Moshe Barnes, Founder and Executive Vice President of Octavian. "The new appointment comes at a time of increasing market traction for Octavian. Jim's expertise will allow us to accelerate the growth of our products and expand the range of services offered to our customers." said Moshe Barnes. "We look forward to taking full advantage of Jim's expertise and his leadership in implementing the technology vision that will support our future product and company growth strategies."

"Octavian is poised to help the Wealth and Investment Management industry reach new levels of productivity, consistency and quality," commented Jim. "I am excited to work with a company that offers such an innovative approach to its clients."