NEW YORK, Sept. 8 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
outsourcing solutions for the financial services sector, announced today that
John M. Howard will join the company effective September 17, 2004, as
President of its Insurance Services division.
Mr. Howard, 37, will join BISYS from Prudential Financial, Inc., where he
is President of the Prudential Select Brokerage unit and responsible for
Prudential's third-party distribution of life insurance and specialty products
throughout the United States. His prior experience includes serving as
President of Conseco Retirement Services, where he was responsible for
Conseco's fixed, variable and equity indexed annuity businesses. In addition,
Mr. Howard spent seven years in various sales and service roles at GE Capital,
ultimately serving as Senior Vice President, Deferred Annuity Products. Mr.
Howard holds a BA in economics from Columbia University and an MBA from Duke
University.
Russell P. Fradin, BISYS' President and CEO, stated, "We are delighted to
welcome John to BISYS. His strong sales and service background coupled with
his significant insurance distribution experience make him ideal to lead this
business, and we look forward to his contributions."
Mr. Howard added, "I am pleased to assume the leadership role for BISYS'
Insurance Services division. BISYS' national distribution platform, broad
product portfolio and strong carrier relationships comprise an important
strategic asset, and I look forward to leading the unit as we capitalize on
its unique positioning in the insurance distribution marketplace."
Mr. Howard will report to Mr. Fradin and will be based in BISYS' New York
headquarters.
About BISYS
The BISYS Group, Inc. (NYSE: BSG), headquartered in New York City,
provides business process outsourcing solutions that enable investment firms,
insurance companies, and banks to capitalize on convergence by entering new
segments of the financial services industry. BISYS currently supports more
than 22,000 domestic and international financial institutions and corporate
clients through three business units. Its Investment Services group provides
administration and distribution services for approximately 380 clients,
representing more than 2,200 mutual funds, hedge funds, private equity funds,
and other alternative investment products with approximately $750 billion in
assets under administration. BISYS' largest group also provides retirement
services to more than 18,000 companies in partnership with 40 of the nation's
leading banks and investment management companies, and offers analytical
research and competitive information through its Financial Research
Corporation (FRC) subsidiary. Through its Insurance Services group, BISYS is
the nation's largest independent distributor of life insurance and the premier
provider of the support services required to sell traditional and variable
life, long-term care, disability, and annuity products. BISYS is also the
nation's second largest independent wholesale distributor of commercial
property/casualty insurance. This group complements its insurance
distribution services with a comprehensive compliance management solution that
supports insurance and investment firms and professionals with approximately
350 certification and continuing education training courses, and a
sophisticated suite of products and services that automates the entire
licensing process. BISYS' Information Services group supports approximately
1,450 banks, insurance companies, and corporations with industry-leading
information processing and imaging solutions, turnkey asset retention
solutions, and specialized corporate banking solutions. Additional
information is available at http://www.bisys.com.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting The BISYS Group, Inc.'s operations, markets, services and
related products, prices and other factors discussed in The BISYS Group,
Inc.'s periodic filings with the Securities and Exchange Commission.
SOURCE The BISYS Group, Inc.
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Related links:
http://www.bisys.com
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Daniel Briggs, Vice President Finance &
Investor Relations of The BISYS Group, Inc., +1-212-907-6134
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