SOURCE: Kamakura Corporation
January 26, 2011 10:00 ET
Veteran Wachovia Banker Martin Zorn Named Chief Administrative Officer of Kamakura Corporation
NEW YORK, NY--(Marketwire - January 26, 2011) - Kamakura Corporation announced today that Martin Zorn, a 21 year Wachovia Corporation veteran, has been named chief administrative officer at Honolulu-based risk vendor Kamakura Corporation. Mr. Zorn, who will be based in Kamakura's Honolulu head office, joins Kamakura after serving as chief administrative officer and corporate secretary for Tennessee Commerce Bancorp, a $1.4 billion business bank. Mr. Zorn will oversee finance, human resources, public relations, and investor relations at Kamakura and work actively with Kamakura CEO Dr. Donald R. van Deventer, COO Warren Sherman, and senior adviser Dr. David Rowe to share his finance and credit experience with Kamakura clients in 34 countries. Mr. Zorn has been a part time resident of Hawaii for many years.
"We are extremely pleased that Martin Zorn will bring his 3 decades of banking experience to Kamakura Corporation and to our clients," said Kamakura founder and Chairman Dr. Donald R. van Deventer. "Martin has served as chief financial officer for two publicly listed banking companies, experience that is very important as Kamakura grows rapidly and has the opportunity to consider an initial public offering. Kamakura's Board of Directors and shareholders are gratified that Martin has agreed to join the Kamakura team."
"Martin Zorn is one of the smartest senior banking clients that Kamakura has had in its 21 year history," said Warren A. Sherman, Kamakura President and chief operating officer. "When you combine Martin's intellectual firepower with his long experience in commercial lending and his consensus building skills, you have a new member of the team who will play a big role in helping our clients move from common practice risk management to best practice risk management in Kamakura's third decade in the risk business."
Prior to joining Tennessee Commerce Bancorp, Mr. Zorn spent 8 years at Integra Bank Corporation in Evansville, Indiana. At the time of his departure he was chief operating officer, chief financial officer and corporate secretary. He chaired the corporate asset and liability committee and was the executive liaison to the Board Audit and ALCO committees. While in Evansville he was also a member of the adjunct faculty at the University of Southern Indiana where he was an instructor in investments and business finance. Mr. Zorn was with Wachovia Corporation from 1980 to 2001. Mr. Zorn's early years with Wachovia were spent in the systems and marketing departments before transitioning to corporate banking. From 1986 to 1994, Mr. Zorn served as senior vice president and manager of the Southwest District, based in Dallas, focusing on middle market and large corporate lending. Mr. Zorn was in Greensboro and Raleigh, North Carolina focused on corporate banking and capital markets before moving to the Washington DC region for Wachovia. Notably while in Raleigh he established an emerging growth and technology banking practice and in Washington, he managed 325 employees and 30 offices in Northern Virginia across 7 lines of business, including commercial, retail, investment and private banking, commercial real estate, small business and dealer finance.
Mr. Zorn began his career as a systems engineer for Electronic Data Systems and Third National Bank in Nashville.
Mr. Zorn has been an active business and community leader and looks forward to continuing his involvement in economic development, educational and philanthropic activities in his new home. Mr. Zorn is a 1977 graduate of Vanderbilt University in economics and business administration. He pursued studies at the masters level in finance at the University of Texas at Dallas and received his executive management certification in 1998 from Duke University's Fuqua School of Business.
About Kamakura Corporation
Founded in 1990, Honolulu-based Kamakura Corporation is a leading provider of risk management information, processing and software. Kamakura has taken Credit Technology Innovation Awards from Credit Magazine each year since 2008. In 2010, Kamakura was the only vendor to win 2 innovation awards, one each with distribution partners Fiserv and Thomson Reuters. Kamakura, along with its distributor Fiserv, was ranked number one in asset and liability management analysis and liquidity risk analysis in the RISK Technology Rankings in 2009. Kamakura Risk Manager, first sold commercially in 1993 and now in version 7.2, was also named in the top five for market risk assessment, Basel II capital calculations, and for "risk dashboard." Kamakura was also ranked in the RISK Technology Rankings 2008 as one of the world's top 3 risk information providers for its KRIS default probability service. The KRIS public firm default service was launched in 2002, and the KRIS sovereign default service, the world's first, was launched in 2008. KRIS default probabilities are displayed for 4000 corporates and sovereigns via the Reuters 3000 Xtra service and the Thomson Reuters Eikon service. Kamakura has served more than 200 clients ranging in size from $3 billion in assets to $1.6 trillion in assets. Kamakura's risk management products are currently used in 33 countries, including the United States, Canada, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Russia, the Ukraine, Eastern Europe, the Middle East, Africa, South America, Australia, Japan, China, Korea and many other countries in Asia.
Kamakura has world-wide distribution alliances with Fiserv (www.fiserv.com), Sumisho Computer Systems (http://www.scs.co.jp/english/), Unisys (www.unisys.com), and Zylog Systems (www.zsl.com) making Kamakura products available in almost every major city around the globe.