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October 25, 2010

Oracle Financial Services Software appoints CEO

New CEO Chet Kamat replaces NRK Raman

By CBR Staff Writer

Oracle Financial Services Software (OFSS) has appointed Chaitanya M. Kamat (Chet Kamat) as managing director and CEO, effective immediately. He has also joined the company’s Board of Directors.

Chet Kamat succeeds NRK Raman who will continue as Executive Advisor until the end of the calendar year.

The company has also appointed S Venkatachalam as a new independent director on the OFSS Board.

Venkatachalam has wide experience in the financial services industry having served at Citibank and also sits on the boards of Bharti, AXA Trustee Services and the State Bank of India.

Oracle Financial Services Global Business Unit senior vice president and general manager Frank Brienzi said Chet Kamat is a proven financial services executive with more than 25 years of experience leading large organisations.

"After a diligent process to find the right leader to succeed Raman, we are fortunate to announce his appointment, Raman will remain actively engaged in the business through the end of the calendar year, guiding the transition," Brienzi said.

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"Our people and clients are critically important to our business therefore, we have planned and will execute a smooth and comprehensive transition. We thank Raman for his leadership and years of service to OFSS and wish him the best in his retirement."

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