RMS

RMS Appoints New Chief Technology Officer to Lead the Development of It's Next Generation Software

Calif – March 23, 2009 – Philippe Stephan has been appointed chief technology officer (CTO) in a newly created role at Risk Management Solutions (RMS). Philippe, who has more than 20 years’ experience in software development – applying his technology and leadership skills to the field of advanced analytic applications - will manage the RMS Application Development function and drive the architectural design and development of RMS’ next generation of software.

“As catastrophe modeling becomes increasingly embedded in core business processes, we are raising our investment in software technology to deliver extensible and scalable modeling solutions for our clients,” commented Hemant Shah, president and CEO of Risk Management Solutions. “Philippe is perfectly positioned to lead this initiative, with his extensive experience in managing the development of sophisticated financial analytic applications and working across multi-disciplinary teams to create high-performance solutions.”

Before joining RMS, Mr. Stephan was the CTO and head of product development at Moody’s KMV where he was responsible for the development of a suite of enterprise-class portfolio credit risk modeling and risk management products. Prior to that, he was head of systems for Credit Agricole Lazard Financial Products Bank where he designed and built front-to-back trading systems, and was a software architect at Société Générale Bank where he redesigned an option pricing system that led to the opening of a new structured product desk. Working as a chief engineer at a start-up company earlier in his career, he also led the development of a groundbreaking software development environment for the Eiffel programming language, which was a precursor to Java. Mr. Stephan holds a Masters in Business and Computer Science from École Nationale Supérieure des Mines de Saint-Etienne in France.

Mr. Stephan, who will be based in RMS’ headquarters in California, commented: “This is a truly exciting opportunity to join a world-class organization that invests in bringing the next generation of technology to its client base. I look forward to drawing on my experience and working across exceptional teams to drive forwards RMS’ ambitious software development goals.”