In this new role, Gilberto will be responsible for managing the operations and serve FircoSoft customers as well as grow FircoSoft's presence in South America.

Gilberto has over 32 years experience in the banking industry, recently as the Head of International Products for Corporates within Banco do Brasil's International Business Division. Gilberto will officially join the company on 9th July, 2012.

"We are delighted to have Gilberto join the FircoSoft team to expand operations in South America and address the region's growing demand for solutions to ensure compliance with regulations on terrorist financing and embargoes," said Jean Losco, CEO of FircoSoft. "With his deep knowledge of the Brazilian market and his long successful track record and experience in banking and payments acquired at Banco do Brasil, Gilberto will prove to be an invaluable asset to our organization."

"I am very excited to be joining FircoSoft, the market's industry leader for watch list filtering solutions," said Gilberto Pacheco, Managing Director of FircoSoft Brasil. "I look forward to being part of this growing company and utilizing my knowledge of the banking industry to help financial institutions in the region eliminate the risk of processing illegal transactions or doing business with risky counterparties."

At Banco do Brasil, Gilberto worked for the past 17 years at the International Division. Gilberto also held positions at BB as Head of SWIFT Operations and Head of Internal Controls for Foreign Trade/Foreign Exchange operations. He was the SWIFT User Group Chairperson for Brazil from 2002-2006, and participated in the Payment System Restructuring Project in Brazil from 1999-2002.