Head of Euronext.liffe Market Solutions joins Choreology as CEO

Contact: Katy Birch
Choreology Ltd.
+44 (0)870 739 0056
katy.birch@choreology.com

12th January 2004, London: Choreology, the Business Transaction Management company, today announced that Mark Hemsley has become its CEO.

In line with the company’s longstanding plans, Alastair Green hands over the role of CEO whilst himself continuing as CTO and as a member of the Choreology board of directors.

Since 2001 Mr Hemsley has been Managing Director of Euronext.liffe Market Solutions and a member of the Euronext.liffe Board. He has been closely involved with Choreology for the past three years, both as an angel investor and as non-executive Chairman.

During his time with LIFFE he has directed the marketing and sales of the exchange’s advanced trading system and services. During this time LIFFE technology has been bought and deployed by exchanges such as the Chicago Board of Trade, TIFFE and NQLX.

Prior to joining LIFFE, he was a Managing Director of Deutsche Bank AG, responsible for global technology for a number of trading divisions within Deutsche's CGI (investment banking) division in Europe. Following qualification as a Chartered Management Accountant in 1986 he has pursued a fifteen-year career in information technology management within the financial services industry, working for companies such as Midland Montagu, Bankers Trust, Credit Suisse Financial Products and NatWest Capital Markets.

Mr Hemsley’s appointment comes as Choreology draws down funds from its primary investor, Atlas Venture, under agreements that allow the company to operate well into 2005.

The Choreology board has further strengthened the commercial development of the business with the appointment of Tony Bethell as VP, Commercial Operations.

Mr Bethell brings to Choreology a wealth of experience from across the software industry having held general management and sales and marketing roles with companies such as Alterian, a column database technology, iWork Software, a niche EAI software vendor, Saville, a telecommunications customer care and billing vendor, and SSA, a leading ERP provider. He has extensive experience in direct, indirect and OEM sales channels both in Europe and North America, developing strong alliances with major ISVs and System Integrators.

Atlas Venture Principal, Christopher Spray, added: “Since our initial investment in 2002 Choreology has generated considerable commercial interest for its Business Transaction Management software in several key industry sectors. We are pleased to continue our involvement with the company and are confident that the executive management team that has been put in place will ensure that the company moves rapidly towards commercial success.”

With effect from 12th January 2004 the executive management team at Choreology will comprise Mark Hemsley as CEO, Alastair Green as CTO, Colin Medway as CFO, Mike Leznar as VP, Engineering and Tony Bethell as VP, Commercial Operations.

ENDS