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Sophis Appoints Giacoletto as Chairman of the Supervisory Board

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Sophis has appointed Sergio Giacoletto as its new chairman of the supervisory board. Giacoletto recently joined Advent International’s Operating Partner Programme to advise the global private equity firm, and majority shareholder of Sophis, in the technology sector. Giacoletto replaces Pascal Stefani, managing director at Advent, who held the role of chairman for two years and will remain a member of the supervisory board.

Giacoletto brings extensive experience of the technology industry to the Sophis board. From 2000 until December 2008, he was executive vice president of Oracle Corporation, responsible for Europe, Middle East and Africa and a member of Oracle’s executive committee. Previously he held senior roles at AT&T International and Digital Equipment Corporation. He is currently the senior independent director of Logica and a non-executive director of CSR and COLT Telecom.

“Sophis has excellent software solutions that meet financial institutions’ risk management requirements across the buy side and the sell side, as well as a strong track record for fast and efficient system implementations. I look forward to working with the board and executive committee to support the company’s growth plans in Europe and internationally,” comments Giacoletto.

“We have made a number of senior appointments to strengthen the Sophis management team as we position the company to take full advantage of the opportunities within the global financial markets. Sergio’s appointment as chairman of the board will provide us with additional experience and insight that will be invaluable as we take the organisation forward into 2010 and beyond,” comments Pascal Xatart, CEO, Sophis.

Giacoletto’s appointment demonstrates Advent’s ongoing commitment to Sophis’ international expansion. “Sergio’s broad experience of running large, high growth businesses, opening new markets and integrating acquisitions within the software sector means that he is well positioned to take Sophis to the next level. I look forward to working closely with him in what is an exciting time in the risk management space,” adds Pascal Stefani, managing director at Advent.

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