SYMTECO restructures its Payments Division, adjusts market focus.

London, UK–January 18, 2011–

Symteco International today announced the addition of two experienced executives to its management force, the realignment of its management reporting structure, and the adjustment of its market focus.

Joining SYMTECO are Alex Parkhomenko, Chief Executive Officer, and Stanislav Syatkin, Senior Vice President, Payments. Both are filling newly created positions, with Mr. Parkhomenko taking overall responsibility for company business development and operations, and Mr. Syatkin now responsible for the Payment Division operations.

Alex Parkhomenko is a senior executive with more than ten years’ experience managing operations in the finance, banking and payments, and has an impressive track record in the industry, most recently as a Partner for Goldenberg Ventures, where for the last eight years he has been responsible for all projects undertaken in the civil and commercial markets.

“We are thrilled to have Alex and Stanislav on the team,” said Nukri Basharuli, President, SYMTECO International. “They bring tremendous experience to their new roles, and strengthen our ability to efficiently meet the needs of our clients in the CIS.”

SYMTECO also announced that it is realigning its internal management structure such that the Payments division will now be separated from the SYMTECO’s Financial Sector Technology Group. This realignment will more fully capitalize on the combined strengths and potential synergies of the two organizations. Under the reorganization, Stanislav Syatkin, Senior Vice President, will carry executive responsibility for the payments business development and operations and Alexander Parkhomenko, CEO of SYMTECO Internantional will oversee both divisions mutual operations.

“There are an increasing number of synergies and common market opportunities for Payments and Financial Sector Technology, particularly on large public sector projects, where SYMTECO is already very well positioned, as well as on certain smaller, specialized opportunities where SYMTECO’s scale, sophistication and multi trade capabilities can add real value for our clients,” said Nick Logolsavick, Managing Director of SYMTECO’s Financial Sector Technology division. “This combination will give SYMTECO a true competitive advantage in delivering projects as a full service payments company.”

“Although the recent financial performance of the Payments division has not yet met our standards, the team is strong and the market opportunities are real,” Mr. Logolsavick added, “We firmly believe this refinement of strategy and the combined strength of our management teams will deliver strong future results.”

“This reorganization is designed to better position SYMTECO to capitalize on market opportunities, share best practices, capture efficiencies, and better leverage the skills and experience of the combined team,” said Nukri Basharuli, President, SYMTECO International.

“The additions and changes we are announcing today are all designed to drive superior client service and improved overall results. They address the recent operating and financial performance challenges within the Payments group while still maintaining the general contracting capabilities that we believe form an important component of SYMTECO’s overall value proposition.”

About Symteco International

Symteco offers software and processing solutions for financial services, higher education, and the public sector. Symteco has more than 450 employees and serves 300 customers in 17 countries.

Headquartered in London, Symteco is comprised of four businesses (Availability Services, Financial Systems, Higher Education and Public Sector) that provide technology services and infrastructure, software, and mobile payments solutions (DaisyPay Inc.).

Contact:

Catherine DuPlessis
Symteco International
Assistant Manager
19 Kingsland Road
London QW3ER
United Kingdom
Telephone: 2070605670
Email: [email protected]

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