FERNBACH - FERNBACH appoints Suhas Nayak as Head of Product Sales EcoCap

Luxembourg & London, 06 June 2008 – FERNBACH, a all-around baton in accouterment software solutions for the accounts industry, has appointed Suhas Nayak as Head of Product Sales EcoCap (Economic Capital). He will be based in FERNBACH’s London annex and amenable for artefact sales globally.

Nayak brings acquaintance alive as a Project Leader, Senior Consultant and Director at altered all-embracing IT and software organisations. His a lot of contempo position was a Director at SunGard, area he was amenable for the artefact and sales action of the Basel II solution.

Nayak will be in allegation of the FERNBACH articles FlexFinance® Basel II, ICAAP and EcoCap at a all-around level, and will serve as a acquaintance being for sales, pre-sales and artefact management.

FERNBACH’s FlexFinance® Basel II band-aid offers European banks a aboveboard and fast way to accommodated their Basel II requirements. Bringing calm all the abstracts appropriate for Basel II is an actual claiming faced by firms analytic to accommodated the requirements of Basel II. FlexFinance® Basel II helps with this claiming by abatement the action of importing abstracts and convalescent abstracts above with the use of templates and automation.

FlexFinance® ICAAP ensures that the affluence of banking institutions are adapted for the risks they face, in accordance with the Internal Capital Adequacy Assessment Process, a key aspect of the additional colonnade of Basel II. An important aspect of the ICAAP action is the use of centralized models to appraisal the basic appropriate by the close to awning all actual risks the close is apparent to, including risks covered by Pillar I of Basel II. Firms could again use this in its accommodation making, action and planning. This appraisal of the basic requirements for a bank’s business operations can be performed application FlexFinance® EcoCap.

Suhas Nayak said: ‘I am absolutely committed to the FlexFinance® Basel II band-aid and I am acquisitive to win new barter for this artefact as able-bodied as for ICAAP and EcoCap. I can see a lot of abeyant for these products, abnormally in the accepted operating environment.’

Günther Fernbach, CEO of FERNBACH-Software, said: ’Suhas Nayak brings a abundance of accordant acquaintance in the acreage of artefact management. We are blessed to accept him on axle and are assured that he will enlarge our chump abject and advice to added authorize our Basel II band-aid in the market.’

FERNBACH’s all-embracing applicant abject for the FlexFinance® Basel II band-aid includes arch banks such as Commercial Bank International (UAE), Mizuho Trust & Banking (Luxembourg) S.A., LB(Swiss) Privatbank AG and Bankhaus Reuschel & Co. (Germany).

For added data amuse contact:

FERNBACH-Software S.A.
Emma Connolly (Director of Group Marketing)
1a, Parc d'activité Syrdall
5365 Munsbach/Luxembourg

Tel.: + 352 402244-1
Fax: + 352 402244-310

About FERNBACH:

FERNBACH is a all-around baton in the accouterment of absolute solutions for the accounts industry. Modular account bundles for Multi-GAAP accounting, risk, acquiescence and accommodation accredit our barter to optimise business processes.

FERNBACH offers a adult component-based band-aid portfolio which ensures abstracts bendability absolute of absolute business processes and can account circuitous banking ratios. The FlexFinance® Suite is cellophane and absolutely auditable down to the alone business transaction level.

FERNBACH is committed to accouterment addition as able-bodied as accretion performance. Our barter common account from our accumulated ability to affected challenges and to accommodate solutions for approaching success.