Open Solutions, Inc.®, a provider of integrated, enterprise-wide data
processing technologies for banks and credit unions across the United
States and Canada, today announced that Kenneth J. Saunders, former CFO
of San Diego-based Peregrine Systems, Inc. (OTC: PGRN), which most
recently was acquired by Hewlett-Packard Company, will be joining the
company on February 3, 2006, as its Executive Vice President & Chief
Financial Officer (CFO). Saunders will replace Carl D. Blandino who
will be leaving the company in mid-February 2006 to join a private
equity-backed company providing marketing services to the
pharmaceutical industry.
Reporting directly to Louis Hernandez, Jr., Open Solutions Chairman and
CEO, Mr. Saunders will be responsible for managing all aspects of the
finance, accounting, IT, investor relations, and M&A organizations for
Open Solutions.
Open Solutions Chairman and CEO Louis Hernandez, Jr., said, “Ken brings
a wealth of industry knowledge and experience overseeing public
companies to the organization. He is a seasoned public company CFO
having been responsible for investor relations, and dealing with top
tier investment bankers and analysts. He is well known in the software
industry and shares Open Solutions’ vision of transforming the
financial services sector through innovative enabling products and
superior service. He brings to Open Solutions strong technical
knowledge of SEC, SOX and GAAP regulations as well as an impressive
background in both international and M&A transactions. His expertise
will strengthen an already strong senior management team. On behalf of
the entire senior management team and company, I would like to welcome
Ken to the organization. All of us are looking forward to working with
Ken as we continue to grow the company, execute our vision and better
serve our industry, clients and the overall marketplace.”
Saunders comes to Open Solutions with extensive industry and senior
management experience. Most recently, he was CFO and one of the
leaders of the successful turnaround of Peregrine Systems, Inc., a
leading provider of enterprise asset and service management solutions.
Prior to his tenure at Peregrine, he was CFO of Fair Isaac Corporation
(NYSE:FIS), a leading provider of analytic application software to the
financial services industry. Mr. Saunders also served as CFO for HNC
Software, Inc., a provider of predictive technologies and a company
which was acquired by Fair Isaac Corporation in August of 2002.
Additionally, Mr. Saunders brings over a dozen years of software
experience, principally focused on the financial services industries,
with him to Open Solutions. Mr. Saunders is a CPA and holds a Bachelor
of Science degree from Widener University.
Hernandez added, “While we are fortunate to have Ken join our
organization, we would like to also acknowledge the valuable
contributions that Carl Blandino has made during his years at Open
Solutions and thank him for his continued assistance during this
transition period. On behalf of everyone at Open Solutions, we wish him
well in his future endeavor.”
Commenting on his new position, Mr. Saunders said, “I have known about
Open Solutions for many years and had the opportunity to work with Open
Solutions while I was with Fair Isaac Corporation. I am very impressed
with the focus that Open Solutions has had on serving the financial
services industry. They have an excellent growth story and have
certainly garnered an excellent reputation in the industry by providing
a comprehensive suite of enabling technologies backed by a commitment
to service. I look forward to my new role and contributing to the
company’s continuing success and growth.”
About Open Solutions Inc.
Open Solutions, Inc. offers a fully-featured strategic product platform
that integrates core data processing applications built on a single
centralized Oracle® relational database, with Internet banking, cash
management, CRM/business intelligence, financial accounting tools,
imaging, Check 21, electronic image/item processing, interactive voice
response, payment and loan origination solutions. Open Solutions' full
suite of products and services allows banks, thrifts and credit unions
in the United States and Canada to better compete in today's aggressive
financial services marketplace, and expand and tap their trusted
financial relationships, client affinity, community presence and
personalized service.
For more information about Open Solutions or its financial product
line, contact Mickey Goldwasser, 860.652.3153 or email at
mgoldwasser@opensolutions.com. Visit Open Solutions' Web site at
www.opensolutions.com.
|
