GERMANY, Feb. 22. 2001 (PRIMEZONE) -- Brainpower (Neuer Markt:BPW), provider of investment analysis and decision-support software tools for the investment community, has announced the start of its Scandinavian operation with the opening of a new office in Stockholm and the appointment of Magnus Hellstrom as Country Manager for Sweden. Magnus will report to Brainpower's Vice President for Europe, Jim Barton, and will be in charge of both growing Brainpower operations in Sweden and expanding the business into the rest of the Scandinavian region, gaining a dominant market share for Brainpower products.
Before joining Brainpower Magnus held various sales and management roles culminating with MD and Country Manager positions within software companies including PictureTel Scandinavia, Euro Trade Holdings, Euro Trade Systems and IBM. Magnus gained in-depth experience of software for the financial services industry whilst at IBM.
Magnus commented, "Brainpower is a young company with a great future. It has impressive products that do not have any natural competitors at the moment. I am looking forward to the challenge of bringing these products to the Scandinavian markets starting first with Sweden and then rolling out gradually to Denmark, Norway, and Finland."
Mark Wells, Chief Operating Officer at Brainpower added, "Magnus's impressive track record of both direct and channel sales together with his management experience and the top quality of the products, which is highly appreciated by many clients in the rest of Europe, will get Brainpower off to a flying start in the Scandinavian region".
Notes to Editors
About Brainpower
Brainpower is a developer and supplier of investment analysis and decision support tools for investment professionals and online financial service providers. Brainpower's solutions are differentiated by their advanced capabilities to support enhanced decision-making for investment professionals and their clients, including retail investors. Brainpower works with its clients and partners, to help realize their strategic goals for delivery of services to clients and good fund performance through the effective use of technology.
The organization's high-end decision support tools for investment professionals, Brainpower FINEST and Brainpower Top Funds, support the analysis and management of stocks, mutual funds and portfolios. The technology is database-independent operating in a client/server environment. Based on recognized industry standards and solutions, the technology can be fully integrated into a client's existing technological environment.
The newly developed Brainpower NetXceed supplies the key functionalities of Brainpower FINEST and Brainpower Top Funds offering for online financial service providers. Brainpower Compete! and Brainpower Friends are innovative tools for marketing and sales professionals in the financial services sector facilitating client acquisition and retention. Customers include leading players in the fields of asset management, private banking and online financial services.
Brainpower is a Dutch company and is currently represented in major European financial centres through nine offices: Frankfurt, London, Lugano, Milan, Madrid, New York, Paris, Stockholm and Zurich.
For further information see: www.brainpowerweb.com