New York, NY and London, UK – July 7, 2008 – Complinet, the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry, today announced that it has promoted Leas Bachatene to managing director of its operations in the Middle East and Asia Pacific.
Hired by Complinet in 2005, Mr. Bachatene established Complinet’s Middle East operational centre in Dubai during the same year. In his new role he will run Middle East operations working with the team based at Complinet’s offices in Dubai, as well as working with Complinet’s compliance and regulatory specialists that cover the Asia Pacific region from the company’s offices in Singapore, Sydney and Melbourne. His responsibilities include driving business development throughout both regions.
The Middle East and Asia Pacific regions are key growth areas for companies specializing in financial sector regulations. Last year Complinet experienced a 200% growth in revenue in the Middle East. In the Asia Pacific region, the company expects to grow its new business revenue by over 250%.
Mr. Bachatene has worked extensively in the international arena for many years, and has experience working with diverse business cultures, managing operations and delivering significant business growth.
“This is well deserved promotion,” said Chris Pilling, CEO of Complinet. “Leas has done an outstanding job growing the business in both regions. Under his direction we will be continuing to expand our operations in both Middle East and Asia Pacific in 2008.”
“The Dubai Multi Commodities Centre (DMCC) has been using the services of Complinet for more than three years,” said Hassan Nassar, Head of Compliance at the DMCC. During this period DMCC has implemented the Complinet Global Screening Workstation solution, whereby the names included in the Workstation are checked against any updating in the international sanctions lists on a daily basis. We also are receiving regular updates from Complinet about new developments in regulatory issues in the GCC area. Mr.Leas Bachatene has personally played a pivotal role in cementing our excellent relationship, and we wish him success in his new role.”
Prior to Complinet, Mr. Bachatene worked at eFinancialNews Limited, acquired by Dow Jones in 2007. At eFinancialNews he was director of Product Sales and responsible for managing the sales and customer service departments. From 1995 to 2000, he worked at Informa Group where he managed numerous sales activities including successful projects in Great Britain, the United States, Australia, and Hong Kong.
“In a very short time frame we have become a trusted partner to numerous financial services firms and regulatory agencies in both regions for providing compliance intelligence and monitoring solutions,” said Leas Bachatene, managing director for Middle East and Asia Pacific, Complinet. “I am looking forward to expanding our relationships with existing customers and introducing our solutions to new prospects in both regions.”
Complinet is the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry.
The company’s solutions minimize exposure to risk by providing the information and technology to track and connect live external events, such as regulatory or sanction changes, with internal policy management and screening activities.
Complinet was founded in 1997 and employs more than 200 people in its offices in New York, London, Sydney and Dubai. Every day, industry professionals in more than 1,600 firms across 81 countries rely on Complinet to provide information, analysis and solutions that help them keep pace with changing regulations. www.complinet.com
Sally Forge or Hazel Butters
Prompt Communications Ltd
Tel: +44 208 996 1650 / +44 7780 687813
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