Calypso Technology Appoints Sean McDermott as Regional Head of Sales, Asia-Pacific

Singapore & Tokyo, November 5, 2008 – Calypso Technology, Inc, a global application software provider of an integrated trading application suite to the capital markets industry, announced today that Sean McDermott has been appointed as Regional Head of Sales, Asia-Pacific. Reporting to Pieter Hamman, Vice President Sales at Calypso, Mr. McDermott’s appointment will see him lead the Asia-Pacific sales team in responding to demand for Calypso’s cross-asset trading and risk management platform, together with the Calypso Fast-Track implementation solution, in Calypso’s fastest growing region.

Mr. McDermott joined Calypso in 2004 and during his tenure successfully sold to customers in Japan, South Korea and Singapore. He has also presided over substantial growth in Calypso’s Tokyo operation, which has more than tripled in size in terms of headcount over the past four years. Prior to joining Calypso, Mr. McDermott was Country Manager in Japan at both Wall Street Systems and FNX Limited. Mr. McDermott has lived and worked in Japan for over twenty years and has a solid background of working with financial institutions in Japan and across Asia-Pacific.

Arnie Papp, previously responsible for Calypso’s Asia-Pacific operations, has assumed responsibility for management and coordination of Calypso’s global team of presales market specialists. The creation of a global presales team with Mr. Papp’s oversight is a strategic move designed to build centers of excellence for each of the product groups which can be traded in Calypso, and to support the product management team in keeping Calypso at the cutting edge of market developments. Mr. Papp also reports to Mr. Hamman and is based in San Francisco, California.

Mr. Hamman comments, “Sean has brought extensive knowledge and experience of the Asia-Pacific market to Calypso, and we are delighted to have him lead the effort to expand our APAC footprint and continue serving our regional customers. Calypso has entered a significant new phase of growth by serving buy-side institutions and we see huge potential in this market in Asia-Pacific. We are confident that Calypso’s Asia-Pacific operations will continue on their current growth path under Sean’s supervision and into our expanded target market.”
Calypso has experienced great success in Asia-Pacific, with revenues growing at a Compound Annual Growth Rate of over 80% for the last five years. Approximately 25% of Calypso’s total headcount is based within the region, with the vast majority of those employees in service-oriented roles for Asian customers.

Sean McDermott says, “Since opening for business in the region in 2001, Calypso has steadily built up a customer base comprised of the region’s leading banks. As part of our next growth phase, Calypso is now servicing a broader range of institutions including hedge funds, asset managers and insurance companies with our award-winning trading and risk management platform. Our ability to deliver the required functionality quickly using our rapid implementation solution, Calypso Fast-Track, means that we have a compelling offering for our Asian clients.”