In this newly created role, Forrest is responsible for meeting the growing demand for its risk management solutions by developing and directing worldwide sales strategies and managing operations for direct and indirect sales channels.

"Following Justin's tremendous success driving new business and carving out market niches for QuIC, as Vice President Business Development, we are delighted to promote him to this new role," said Nigel Cairns, President and CEO for QuIC. "The timing couldn't be better as we continue to experience accelerating global market demand for our risk management solutions. With Justin's appointment, we now have the ability to scale to meet the needs of our growing customer base."

Positioned as trusted advisors in helping banks and financial customers advance their risk management processes, QuIC achieved significant goals for 2008, highlighted by a number of successful projects, the launch of innovative new products, and the addition of new clients. More specifically, QuIC effectively defined their unique market expertise in a time when risk managers are more reliant than ever on their solutions to support evolving regulatory compliance and risk models. QuIC promoted Forrest to best meet the increasing demand for QuIC's high performance risk management solutions.

"It's an exciting time to be at QuIC, an industry leader with a proven track record of success, a world-class management team and an innovative product suite that continues to change the landscape for risk management services," added Forrest. "We are uniquely positioned to assist banks and financial organisations meet evolving regulatory demands and I look forward to continuing my efforts to accelerate product acceptance and adoption."

With over 20 years of capital markets experience, Forrest's expertise centres on partnerships, distribution, channel sales and strategic development. Prior to joining QuIC, Forrest held senior management positions with Algorithmics Inc., NatWest Global Financial Markets and IBM UK. As Head of Risk IT at NatWest, he led the design of a consolidated global risk architecture, and oversaw the derivative-processing capability of the firm's middle-and-back-office operations. As a principal consultant within IBM Capital Markets, Forrest's responsibilities included the development of the capital markets consulting business.