Earthport Regulatory News (EPO)

25 Oct 2006 09:00

Earthport PLC25 October 2006 25 October 2006 Earthport plc ("Earthport" or "the Company") Appointment of David E Fife as Chief Executive Officer The Board of Earthport is pleased to announce the appointment of David Fife asChief Executive Officer (CEO) of the Company, with effect from 1 November 2006.It is anticipated that David Fife will join the Board of Directors of Earthportat fiscal year end, when Mike Harrison, currently Executive Chairman, willbecome Non-Executive Chairman. David Fife will takeover all operational oversight and Mike Harrison will, during the transition period, focus on helpingDavid with strategic and business development initiatives. David (36), an entrepreneur with a track record in Private Equity, InformationTechnology and Operations & Business Development, has spent over ten yearsfocused on developing, financing and building products and services based onemerging technologies. In his most recent position, as Managing Director of The Mayfair Group L.P.,David served as Group Head of the merchant bank's European corporate finance andprivate equity efforts. Previously, David served for over seven years as Chief Executive of FifeWaterfield &Co., a private equity firm orientated around the financial servicesindustry. David was Lead Director in the formation of Affinity FinancialCorporation, an online banking company with over US$1 billion in deposits, wherehe still serves as a Non-Executive Director. David helped take the company fromstartup to over US$33 million annual revenue in 2005, playing a leadership rolein closing over US$18 million in funding. David was Lead Director for Waterfield Technologies, a market-leading providerof customer service solutions for the financial services and utility industries.In the last few years, Waterfield Technologies, where David remains a Director,has become a leader in voice and web contact centre automation for customerslike Banco Santander, GE Capital and Fortis. In addition David served as President and COO of Greendex a Business-to-Businesse-commerce exchange focused on the horticultural industry. David, who started his career at Goldman Sachs & Co., has a BA from DukeUniversity and an MA from Columbia University. Commenting on the appointment, Mike Harrison, Chairman of Earthport said, "Weare delighted that David will be joining our management team and look forward tohis drive, energy and expertise propelling Earthport to its target of becomingthe Money Movement Utility of Choice. David also has particularly strong linkswith the USA where Earthport is finding a ready market for its ability toprovide money movement services to organisations, which have internationalpayment and collection requirements as well as domestic ones. David'sappointment marks a further step forward in the emergence of Earthport as aforce in the international online payment sector." David Fife, added: "Earthport has a solid banking and network infrastructure andis uniquely qualified to provide a well-developed and cost-effective paymentutility for small and medium size businesses. I look forward to working withMike and the executive management team to capitalise on the firm foundationsthat have been established following the strategic review last year." End Press enquiries: Mike Harrison, Chairman - Earthport plc +44 20 7220 9700 Lulu Bridges/Paul Dulieu - Tavistock Communications +44 20 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange