SOURCE: EastNets

EastNets

March 01, 2010 08:30 ET

EastNets Expands Senior Executive Team

Brian Haughan Appointed as Chief Operations Officer; Rajeev Agarwal Assumes Role of Chief Financial Officer

NEW YORK, NY and DUBAI, UAE--(Marketwire - March 1, 2010) -  EastNets, a leading global provider of compliance and payments solutions, announced today that the company has added two key executives to its management team to support its business growth plans. EastNets welcomes Brian Haughan as Chief Operations Officer (COO) and Rajeev Agarwal as Chief Financial Officer (CFO).

Brian will be responsible for overall business operations and is based in EastNets' Waterloo, Belgium offices. He brings over 27 years of professional experience, including 21 years at SWIFT where he was Executive Head of Customer Operations for four years, and Executive Head of Products for two years.

Rajeev holds more than 19 years of professional and managerial experience and is based in EastNets headquarters in Dubai. He holds a CPA from the U.S., a CGA from Canada, a CISA, and a CA. Prior to his appointment with EastNets, Mr. Agarwal was CFO at OceanLake Commerce Inc. as well as Vice President of Finance for Dyadem, a QLM & process risk management software company. In addition, he was also a Senior Director of Finance at Workbrain, a workforce management software company.

"We are very pleased to have such high caliber executives as Brian and Rajeev join the company and lead the operations and finances of our organization and help EastNets to grow revenue and improve profitability, streamline financial activities, strengthen our ability to achieve operational excellence, and develop innovative new products," said Hazem Mulhim, CEO of EastNets. "We look forward to their contributions towards EastNets' enhanced performance, specifically their assistance in the delivery of value to the market and our global customer base with high quality solutions and services to improve transparency, resiliency and financial controls."

About EastNets
EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. Founded in 1984, EastNets has over 25 years of experience serving financial institutions, corporates and government agencies around the globe. EastNets provides anti-money laundering, anti-fraud, payment and transaction management solutions, and SWIFT plug-ins to add value to SWIFT connectivity to improve risk protection, transparency, and cost savings. Through its outsourced fully-hosted Service Bureau, EastNets provides SWIFT connectivity and add-on services for over 200 financial institutions. For more information, please visit www.eastnets.com

This document may contain forward-looking statements, relating to EastNets operations or to the environment in which it operates, which are based on EastNets operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond EastNets control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. EastNets disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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