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Temenos proposes nomination of new Board member

GENEVA, Switzerland, 20 July 2016 - Temenos (SIX: TEMN), the software specialist for banking and finance, today announces it will seek the election of Mr. Peter Spenser to its Board of Directors at the time of its AGM in May 2017, as a Non-Executive and Independent Director.


Based in New York, Mr. Spenser has extensive experience of advising financial institutions on their technology investments, particularly in the U.S. where the annual spend on software by financial institutions exceeds US$20bn. He was a senior partner at Deloitte Consulting for 21 years before retiring in 2016. Having joined the firm in 1990, he held a number of senior roles including head of the Global Financial Services IT practice. Throughout his career, Mr. Spenser has worked with a broad range of financial institutions on improving their technology functions to better serve their business objectives.

Prior to joining Deloitte, Mr. Spenser co-founded AquiData in 1985, which specialises in the automation of data collection, monitoring and analysis, and was Director of Software Systems at Magnaflux, Inc.. Mr. Spenser holds a Ph.D. in Astrophysics from the University of London and an M.A. in Theoretical Physics from the University of Cambridge.

Commenting on the nomination, Andreas Andreades, Executive Chairman of Temenos, said: "Mr. Spenser has an exceptional understanding of the Financial Services IT landscape, and brings a wealth of experience in advising Financial Institutions on their technology roadmaps. In particular, his deep knowledge and relationships with U.S. financial institutions will significantly strengthen our U.S. strategy, and his understanding of IT services will be of great benefit to our Services business. We are delighted to be able to propose such a strong candidate to join our Board."