PIC Solutions Appoints International CEO, Expands Middle East Business

Cape Town, 15 January 2009 – On 1 February 2009, PIC Solutions International, a new division of PIC Solutions, will be created to accelerate the development of PIC Solutions’ interests beyond Southern Africa.

PIC Solutions has appointed Stephen J. Leonard as Chief Executive Officer of PIC Solutions International, to facilitate the expansion of business in the international arena. Headquartered in Dubai and covering all countries outside of Southern Africa, PIC Solutions International will be an integral part of PIC Solutions. PIC Solutions International will draw on the Cape Town head office for functional support, software deliveries, scoring and analytical deliveries, and selected consulting resources.

Stephen has over 20 years of credit risk management experience in the banking and consulting industries, including Chase Manhattan Bank and Fair Isaac Corporation. After 7 years of credit risk and fraud management experience in the New York banking industry, he joined the start-up of Fair Isaac International in the UK. There he established and successfully grew the risk management consulting practice for the Europe Middle East Africa region. This led to the establishment of PIC Solutions in 1999, which Stephen headed up.

He has managed assignments with over 100 clients in 25 countries. His experience covers the entire range of organisations in the consumer credit arena, including bank cards, retail cards, personal loans, car finance, mortgages, current accounts, microfinance, mail order, telecoms and utilities. He holds an AS (State University of New York), BA (University of Toronto) and an MBA (Adelphi University - School of Banking, New York). He is a member of the UK and SA Institutes of Credit Management, the South African Statistical Association, the Operations Research Society of South Africa and the Marketing Federation of Southern Africa.

From 1 January 2009, Chief Operating officer, David McAlpin will be appointed Chief Executive Officer of PIC Solutions South Africa.

Stephen J. Leonard, Chief Executive Officer at PIC Solutions International, comments,“Firstly I would like to congratulate David McAlpin on his appointment as CEO of PIC Solutions. I am confident that the company will be in excellent hands under his leadership. With regards to PIC Solutions International, this is part of an ongoing strategy that we are implementing and I look forward to the exciting times ahead as the company builds upon its existing international footprint and grows and establishes itself in new areas.”