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| GCI. Strengthens Executive Management Team centralized shared service model. |
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| Appoints Paul Kothari as CFO and Bob Olson as Global Head of Financial Services. |
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| Morristown, NJ - April 2007 |
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| Global Consultants, Inc. (GCI), one of the fastest growing providers of end-to-end information technology services and solutions worldwide, today announced the appointment of Paul Kothari as Chief Financial Officer and Bob Olson as Global Head of Financial Services. The appointments add to a year of momentum for the company, which includes $30 million in funding last May from Oak Investment Partners for a minority stake in the company, the acquisition of IVL India, and the appointment of Dominick Cavuoto, formerly of Unisys, as the new CEO. |
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| "As we continue our global expansion, both Paul and Bob will be integral to our advancement," said Dominick Cavuoto, CEO of GCI. "In addition to the expertise both have in doing business globally, Paul's entrepreneurial, yet practical approach, and Bob's experience building international sales teams are very much in line with GCI's vision and goals." |
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| Kothari has a substantial background in software, services, and technology businesses. For last three years, he has been providing consulting services to the Leveraged Buyout (LBO) and venture funds with a focus on due diligence of new investments and oversight of portfolio companies. Prior experiences include CFO positions at Covisint, Comstellar Technologies, TheStreet.com, and International Telecommunication Data Systems (ITDS). Earlier, he was Vice President of Finance and Systems for Bellcore (now Telcordia). His vast experience includes IPOs, mergers and acquisitions, restructuring and turnarounds, as well as shareholder, investor, and board relations. His many accomplishments include leading the IPO team at TheStree.com, and directing a turnaround strategy and a successful divestiture process at Covisint. |
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| Olson comes to GCI from Carreker Corporation (Nasdaq: CANI), part of CheckFree, and a leading provider of consulting and software solutions to financial institutions, where he was President and CEO of Carretek, LLC, a joint venture focused on global sourcing activities. He was a long time Carreker executive and had managed their worldwide sales and marketing activities, several consulting/solutions organizations and started their International practice. He worked with banks to enhance revenues, manage consolidation and integration efforts, reduce expenses and address payments migration issues. |
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| Prior to joining Carreker, Bob was a banking executive, working at Magna Group, Inc. and Security Pacific Corp,. and had managed various divisions including IT, data processing, cash management, correspondent banking, and check, loan and branch operations. |
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| Olson is a recognized banking industry leader who has been a faculty member of the Bank Administration Institute's (BAI) Graduate School of Bank Operations and Technology for the past 19 years. |
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| About GCI |
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| Established in 1991, Global Consultants, Inc. (GCI) is one of the fastest growing end-to-end information technology services and solutions firms worldwide. GCI's client-centric philosophy, commitment to service excellence and global delivery model global engagement model enables its Fortune 500 clients to succeed in today's global digital economy. With over 3500 IT professionals globally, GCI provides onsite, offsite and offshore technology services and solutions to leading financial services, telecommunications, manufacturing, retail and logistics corporations. The privately held company has offices in the U.S., Europe, and India including five existing global delivery centers with recent expansion into China. |
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| Media Contact: |
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Emilio Dabul
M: 908-822-7106
E: edabul@fast-lane.net |
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