Silverlake Axis CEO appointed to Board of Finzsoft

Finzsoft Solutions Limited (NZX:FIN.NZ - News) today announced the appointment of Silverlake Axis Group CEO & Managing Director, Dr Raymond Kwong (Kwong Yong Sin) to the Finzsoft Board.

Dr Kwong’s appointment follows Silverlake HGH Limited gaining an 87.89 per cent stake in Finzsoft Solutions Limited ("Finzsoft"), and Finzsoft becoming part of the Silverlake Axis Group of companies. As part of the Silverlake Axis Group ("Silverlake"), Finzsoft has access to the company’s more than 25 years’ worth of experience and expertise as a technology partner to 40 per cent of the top 20 banks in South East Asia.

Finzsoft Chairman, Brent Impey says Dr Kwong’s appointment broadens the expertise, experience and perspectives of the Finzsoft Board, and he is delighted to welcome him into his first external directorship: "Given the accelerated pace of change in our ever-evolving industry we look forward to working collaboratively with Raymond and Silverlake Axis to continue advancing Finzsoft’s position as a leading digital economy solutions provider. Raymond has a wealth of experience in the financial service, utilities and technology industries that will help position Finzsoft for the future."

Dr Kwong, who lives in Malaysia, joined Silverlake Axis as a non-executive director in August 2004 and was appointed Group Managing Director on 1 November 2005. Prior to joining Silverlake Group, Dr. Kwong was a Partner/Vice President of Ernst & Young Global Consulting and Cap Gemini Ernst & Young from 1989 to 2000. He was the Senior Manager and Head of IT Consulting for Coopers & Lybrand (South East Asia) from 1984 to 1989. Prior to that, he was Senior Systems Analyst for Pacific Power (Australia) from 1979 to 1983. He has a Bachelor of Commerce (Honours) from the University of New South Wales (Australia) and Ph.D in Information Systems, and is a Certified Practicing Accountant Australia.

Dr Kwong says that he looks forward to working more closely with the Finzsoft team as the company expands to meet a growing demand for its core and vertical banking applications.

"There are strong synergies between Silverlake’s product and solutions, and I look forward to working with Andrew Holliday and his team as they continue the company’s growth through new technologies and by broadening into new industries and markets."

The new addition brings the number of Directors on the Board from four to five. The Board now consists of:

Brent Impey, Chairman, Independent Director

Paul Cook, Non-Executive, Independent Director

Gary Sim, Non-Executive, Director

Dr Raymond Kwong, Non-Executive, Director

Andrew Holliday, Director