FOR IMMEDIATE RELEASE: 12th March 2007
Dovetail strengthens team in response to payments market growth
Dovetail, a leading supplier of payments systems, announced the hiring of Martin Coen as Group CEO, Colin Turnbull as Delivery Director, and Peter Cremona as European Business Development Director. These hirings expand Dovetail's ability to respond to rapid growth in the payments systems market.
Chairman Richard Little comments, "We are seeing a real surge in a payments market that has changed little over the past several years. Driven partly by cost pressures and regulatory changes, banks are looking carefully at their system needs for tomorrow's payments environment. With a component-based system already in place and now proven in a strategic rollout for a global payments bank, Dovetail is in a strong position to benefit from such increased interest, and these new appointments reflect our confidence in the future and our long-term commitment to the market."
Martin Coen, formerly of Patsystems, has extensive management experience in developing technology businesses, and delivering component based solutions for securities trading and trade processing. Coen worked for the OM Group, running a number of technology businesses as well as a Pan-European equities exchange. More recently, he has held management positions at several smaller financial technology companies, both publicly and privately held.
Colin Turnbull joins Dovetail from Sapient, a leading business and technology services firm, where his directorial responsibilities spanned projects in Europe and India. He previously worked in the securities business with TCAM and in the payments division of Logica. Turnbull brings a track record of successful delivery of high-profile technology implementations in the telecom and financial services sectors, particularly in payments.
Peter Cremona joins from Simplex Consulting, where he established the flourishing Banking Consultancy practice and the SWIFT-related line of business which included the SWIFT Service Partnership and the Simplex SWIFT Bureau Service. His career has included senior positions at Midland Bank, HSBC, Mercator Software, and Braid Systems.
The appointments follow the restructuring of Dovetail's global operations into the Dovetail Group, with headquarters in the Republic of Ireland and operating entities in London and Fairfield, NJ.
"In recent years, we've shown that we can meet the needs of even the very biggest clients-and we have active partnerships with some of the most important systems integrators in the payments market," said Little. "The new team will ensure that we exploit these advantages to the full for the benefit of our clients and our own business growth."
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