San Francisco, 15 October 2001 – Continuing its rapid expansion, Calypso Technology announced today that Arnie Papp has joined as General Manager for Asia-Pacific. The Calypso real-time trading and processing system has already attracted customers such as HSBC, Dresdner Bank, Crédit Agricole Indosuez, and Wachovia-First Union. Papp will build a team to support Calypso's growth in Asia-Pacific, starting in Sydney where the company has just established an office and hired local support staff.
"Banks and brokerages throughout Asia-Pacific need to respond to the global trends of deregulation, greater transparency and T+1 settlement. At the same time they also need to reduce their cost structure to remain profitable in a highly competitive environment," said Papp. "Calypso has a unique product and I am excited to take part in the company's global expansion. We have chosen to start in Australia because of the pent-up demand for our system there. We will also be opening an office in Tokyo shortly."
Papp joins Calypso from GlobalSight Corporation, an enterprise software company, where he was Vice-President of Sales. His knowledge of the Asia-Pacific financial markets comes from his experience as Asia-Pacific GM for Infinity Financial Technology. In that role, he set up and managed Infinity's regional operations. Based in Tokyo, he developed and executed a successful business strategy that enabled the company to become the market leader in the region. He has also previously worked for Fuji Bank and Prudential Securities in Tokyo.
"Our software is critical to our customers' business," said Charles Marston, CEO of Calypso. "We must be able to support them as well after their implementation as before. That means having local presence and knowledgeable people. Arnie's experience makes him uniquely qualified to grow our team and ensure our clients' success. He is an important addition to our senior management team. We are delighted that he has joined us."
Monday, October 15, 2001
HSBC Chooses Calypso for Global Operations
San Francisco, 15 October 2001 – Calypso Technology, Inc. announced today that HSBC Bank plc has chosen Calypso as the processing platform for the Group's worldwide treasury markets and securities trading operations.
Calypso will provide all back office processing including settlements and documentation, accounting and P&L. The first implementation will be for foreign exchange with money markets, equities, derivatives and fixed income to follow.
"Amongst our goals are the reduction of transaction costs and the enhancement of services to HSBC Group's customers," said Andy Mayer, Director of OPSCO, a recently formed unit to develop a global operations capability at HSBC. "We looked for a real-time platform that would give us, cross product straight-through-processing, and equally important, one built with a modern architecture. This is a strategic investment for us; we want a system to serve us for years to come."
"By consolidating global transaction processing onto Calypso we expect to achieve significant reductions in operating costs across the Group and to enhance shareholder value. Calypso can support a high volume 24 x 7 business, which was a key evaluation criteria," Mr. Mayer explained,
HSBC also sees benefits beyond the cost savings. "Increasingly, new customer services are technology based," said Mr. Mayer. "To succeed, you need an environment that allows you to innovate-flexibility and time to market are key here. With Calypso we can implement new ideas quickly, and still keep tight control of our businesses."
"This is a major step for both our firms," said Charles Marston, CEO of Calypso. "HSBC's commitment to building a technology infrastructure for the future is impressive, and we are delighted they selected us as partners. It shows the value that we, a new and innovative software company, can bring to the largest financial organizations."
"From our inception, we have focused on core processing and the strategic role of technology in financial markets," said Kishore Bopardikar, President of Calypso. "Clearly, this relationship validates that focus, and shows us emerging as a leader in our market."
About HSBC
Headquartered in London, the HSBC Group is one of the largest banking and financial services organizations in the world. Serving 29 million customers, HSBC's international network comprises some 5,500 offices in 78 countries and territories in the Asia-Pacific region, Europe, the Americas, the Middle East and Africa.
Calypso will provide all back office processing including settlements and documentation, accounting and P&L. The first implementation will be for foreign exchange with money markets, equities, derivatives and fixed income to follow.
"Amongst our goals are the reduction of transaction costs and the enhancement of services to HSBC Group's customers," said Andy Mayer, Director of OPSCO, a recently formed unit to develop a global operations capability at HSBC. "We looked for a real-time platform that would give us, cross product straight-through-processing, and equally important, one built with a modern architecture. This is a strategic investment for us; we want a system to serve us for years to come."
"By consolidating global transaction processing onto Calypso we expect to achieve significant reductions in operating costs across the Group and to enhance shareholder value. Calypso can support a high volume 24 x 7 business, which was a key evaluation criteria," Mr. Mayer explained,
HSBC also sees benefits beyond the cost savings. "Increasingly, new customer services are technology based," said Mr. Mayer. "To succeed, you need an environment that allows you to innovate-flexibility and time to market are key here. With Calypso we can implement new ideas quickly, and still keep tight control of our businesses."
"This is a major step for both our firms," said Charles Marston, CEO of Calypso. "HSBC's commitment to building a technology infrastructure for the future is impressive, and we are delighted they selected us as partners. It shows the value that we, a new and innovative software company, can bring to the largest financial organizations."
"From our inception, we have focused on core processing and the strategic role of technology in financial markets," said Kishore Bopardikar, President of Calypso. "Clearly, this relationship validates that focus, and shows us emerging as a leader in our market."
About HSBC
Headquartered in London, the HSBC Group is one of the largest banking and financial services organizations in the world. Serving 29 million customers, HSBC's international network comprises some 5,500 offices in 78 countries and territories in the Asia-Pacific region, Europe, the Americas, the Middle East and Africa.
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