Lombard Risk beefs up management team

Source: Lombard Risk Management

Lombard Risk Management plc (LSE:LRM) ("Lombard Risk"), a leading global provider of integrated collateral management, liquidity and regulatory reporting and compliance suite of web-deployable solutions for the financial services industry, today announced the appointment of three key executives to join the existing senior management team in leading the company through the planned expansion following the rapid growth experienced in 2010 (34% rise in revenues in half year to September 2010).

Paul Tuson, chartered accountant with 20 years' post-qualification experience in industry and commerce, including four at KPMG, joins Lombard Risk as Chief Financial Officer and has been appointed to the board of directors. He has previous CFO experience with three AIM-listed companies, executed two successful IPOs and recently acted as Finance Director for Aspire Technology Ltd that was successfully sold to Synnex Corporation. Paul says "Having been interim CFO of Lombard Risk for 5 months, I am delighted to have been appointed as full time CFO at what I believe to be a key phase in the company' s development, and I look to the future with much optimism."

Philip Stanning has joined as Group Sales Director. Philip has held senior positions in banking and other software companies including Temenos where he was responsible for building the sales and pre-sales organisation across initially Northern Europe, Middle East and then globally across Asia and America. From his taking the initial role in 1998 with Temenos, revenues grew from $23m to in excess of $160m in 2005. Philip says that "Lombard Risk have an excellent value proposition that is ideally suited to the needs of the market, whether local branch institutions or multi-national Tier 1 global banks - and a superb list of referenceable clients."

Rebecca Bond returns to Lombard Risk as Group Marketing Director from FRSGlobal where she was VP Marketing in a period of growth that culminated in the firm' s trade sale to Wolters Kluwer Financial Services in late 2010. Rebecca has successfully taken similar financial software firms through significant periods of expansion. Her experience in the Press release from Lombard Risk Page 2 financial services software marketplace includes periods in senior positions at Iris Financial, Asset Control, QUMAS and most recently FRSGlobal. Her knowledge, particularly in the areas of risk and regulatory compliance, well equips her to manage corporate communications for the Lombard Risk group. She says "I' m delighted to be back at Lombard Risk. Our collateral management solution (Colline) greatly extends the regulatory reporting and stress testing offering already being enjoyed by Lombard Risk' s clients, and will be a big differentiator when it comes to firms selecting an integrated solution to manage operations to the level management and regulators are demanding to provide better oversight."

These appointments follow the strengthening of the Lombard Risk team in 2010 through the appointment of Philip Crawford as Chairman and Sherry Isenberg as Managing Director, Americas and other senior appointments.

John Wisbey, CEO, welcomed this new team on board, saying: "Successful companies in our space need outstanding people, products and services. Our significant improved mid-year results have already confirmed that Lombard Risk has great products and services, and with these three high quality appointments we have further strengthened what was already an excellent team".

"Lombard Risk has ambitious growth plans for the next few years and an impressive sales pipeline. Market and regulatory developments around OTC derivatives being cleared more on exchanges and consequent changes in the structure of the derivatives markets make this a time for banks and market participants to be looking at upgrading their legacy collateral systems and there will be additional mandatory expenditure on Basel III and Solvency 2 in the next two years."

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