Reporting to Joseph Saporito, Executive Vice President of Global Sales, in his new role Mr. Carley will manage Numerix's London, Paris, Dubai, Frankfurt, Milan and Stockholm sales and development office locations.

Mr. Carley has twenty years of sales management experience in the IT banking sector. With in-depth knowledge of all aspects of financial markets, covering trading, risk management, reporting, compliance, back office operations and ALM, Mr. Carley has a proven track record of building effective sales strategies around value-based-selling approaches and innovative sales processes. Most recently Mr. Carley served as Vice President, Sales for EMEA at Wolters Kluwer where he managed the sales team for the region. Prior to this position, he oversaw virtualization and grid solutions for banking as Director Continental Europe for DataSynapse.

"As financial services firms continue to grapple with regulatory reporting requirements and real-time trading and risk demands, customers are increasingly looking for innovative technology solutions to accelerate derivative calculations, saving significant time and money," said Joseph Saporito, EVP of Global Direct Sales for Numerix. "Tim understands the incredibly challenging IT issues impacting the timeliness of risk analytics, including big data management, compute requirements and the underlying architecture. Tim's extensive experience and diverse experience selling and implementing grid computing and cloud computing services across Continental Europe as well as traditional pricing and risk management software offerings will be an incredible asset to the Numerix team and global sales effort."

"At Numerix I look forward to leveraging my sales and management experience to develop new client relationships and maintain the strong partnerships already in place," said Tim Carley, Managing Director of EMEA at Numerix. "As derivatives market participants continue to keep a careful eye on key regulatory drivers, particularly around Basel III, EMIR and the management of Counterparty Risk I will work in close collaboration with my sales colleagues to address the most complex pricing and risk analytics challenges impacting the EMEA region - with the support and implementation efficiency Numerix is known for."

"As the culture of risk management has evolved, so have big data analytic solutions and the role they can play in managing risk processes across the enterprise - increasing cost-effectiveness, achieving firm-wide risk analysis and protecting against previously unforeseen risks," said Steven R. O'Hanlon, Chief Executive Officer & President of Numerix. "Specializing in front office trading, Risk Management as well as back office software, Tim's successful career began in sales and then naturally transitioned to management with outstanding results, demonstrating his core strengths in launching new and innovative products and reshaping sales strategies. I'm incredibly proud to have Tim as the newest member of our global sales team."