New York, Sept. 24 /PRNewswire-FirstCall/ -- The BISYS Group, Inc.
(NYSE: BSG), a leading provider of business process outsourcing solutions for
the financial services sector, today announced that James L. Fox, President of
BISYS Fund Services, will become the Company's new chief financial officer
succeeding Andrew Corbin, who is resigning to join another company.
Mr. Fox (51), who joined BISYS in April of this year, is a 25-year veteran
of the financial services industry with extensive executive, operating and
financial experience. Prior to joining BISYS, Mr. Fox served for two years as
president and chief executive officer of govONE Solutions, a leader in
electronic government payment services and a subsidiary of First Data
Corporation. Prior to joining govONE Solutions, Mr. Fox served for one year
as Vice President and Chief Financial Officer of Gomez, Inc., a research and
consulting company specializing in Internet technologies, following a
twelve-year career with the Investor Services Group of First Data Corporation,
a provider of processing and mutual fund and retirement service for mutual
fund complexes, banks, insurance companies and investment advisory firms.
Mr. Fox held a number of senior executive positions in the Investor
Services Group of First Data Corporation during his twelve-year career,
including chief financial officer, chief operating officer, and president at
the time the group was acquired by PNC Financial Services Group, Inc. in 1999.
He then served as vice chairman at PFPC Inc., the mutual fund services company
of PNC Financial Services Group, Inc., and as a member of the board for PFPC
Worldwide Inc.
Mr. Fox holds a bachelor of art degree in economics from the State
University of New York and an MBA from Suffolk University. He is a graduate
of The University of Pennsylvania Wharton School of Graduate Business'
Advanced Management Program.
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 20,000 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 more than $650 billion in
assets. BISYS' largest group also provides retirement services to more than
15,000 companies in partnership with 40 of the nation's leading banks and
investment management companies, and offers analytical research and
competitive intelligence through its Financial Research Corporation (FRC)
subsidiary. Through its Insurance and Education 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, annuity, long-term care, and disability products. BISYS is also the
nation's third largest independent wholesaler of commercial lines of
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 more than 225
certification and continuing education training courses, and a sophisticated
suite of products and services that automates the entire licensing process.
BISYS' Information Services group provides information processing and imaging
solutions to more than 1,150 financial institutions. This group also supports
more than 120 insurance companies with a suite of asset retention solutions,
and provides complete program management for corporate-sponsored cash
management accounts. 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 Company's operations, markets, services and related
products, prices and other factors discussed in the Company'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:
Dennis R. Sheehan, President and Chief
Executive Officer of The BISYS Group, Inc., +1-212-907-6081
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