5th Jun 2009 07:00
5 June 2009
STATPRO GROUP PLC
("StatPro", "the Company" or "the Group")
European Sales Director Appointment
StatPro Group plc (AIM:SOG), a leading provider of portfolio analytics and data solutions for the global asset management industry, is pleased to announce the appointment of Tim Dennis as European Sales Director.
Tim spent five years as an officer in the British Army before moving into the financial markets, initially as a commodity trader on the London Metal Exchange and subsequently Reuters. There he held various sales and management positions including Managing Director Global Business Division before leaving in 1999 to join MoneyExtra as COO. Most recently he has held Sales and Business Development Director positions at Prebon Marshall Yamane, an international money broker and Integral, an FX electronic trading portal.
Tim Dennis commented, "I am delighted to be joining StatPro at a particularly exciting time in its development, as it expands its product offering into asset pricing. The turmoil of the last 18 months in the asset management industry has highlighted the need for greater transparency, enhanced risk management processes and exemplary compliance with the many governance rules. I believe we have an exciting opportunity ahead of us to be the provider of choice in all three of these areas, offering a cost-effective, high quality solution."
Justin Wheatley, Chief Executive, commented: "We are bolstering our European sales force as part of our new strategy providing outsourced data and analytics. Tim has been appointed to head this initiative and will manage all our European sales operation. His extensive experience in building sales teams across Europe will bring critical expertise to StatPro and we are delighted he is joining the team."
For further information, please contact:
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StatPro Group plc |
www.statpro.com |
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Justin Wheatley, Chief Executive |
020 8410 9876 |
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Andrew Fabian, Finance Director |
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Cenkos Securities |
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Jon Fitzpatrick / Ken Fleming |
0131 220 6939 |
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ICIS |
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Tom Moriarty / Caroline Evans-Jones |
020 7651 8688 |
About StatPro
StatPro is a leading provider of portfolio analytics and data solutions for the global asset management industry. The Company sells its suite of products on a rental basis to investment management companies to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides the market data and valuation feeds including a new Complex Asset Pricing service.
StatPro has grown its recurring revenue from less than GBP1 million in 1999 to GBP28.4 million at end December 2008 and currently enjoys a 94% renewal rate. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. The Company has operations in Europe, North America, South Africa and Australia, with approximately 80% of revenues being generated outside the UK.
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