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Algorithmics Names Capital Management Co-Directors

Date: Monday, May 16, 2005
Author: By Chris Clair, Reporter- Hedgeworld.com

TORONTO (HedgeWorld.com)—Algorithmics Inc. named Kim Olson to serve as co-managing director of its capital management business, along with Mina Wallace.

Ms. Olson currently is managing director of Fitch Ratings' credit policy group. Fitch Ratings is owned by Fitch Group, which bought Algorithmics in January Previous HedgeWorld Story. Ms. Wallace is currently Algorithmics' vice president of global operations and a managing director in North America.

"Kim Olson's credit, banking and regulatory experience make her uniquely qualified for the challenge of co-directorship of our capital management business," said Michael Zerbs, Algorithmics' president and chief operating officer, in a statement. "Kim's extensive work in credit and capital management, combined with Mina Wallace's experience in software operations and go-to-market programs, will further Algorithmics' leadership in capital management."

The two will oversee the company's development of economic capital, credit models and analytics, credit and credit exposure advisory services, Mr. Zerbs said.

Most recently, Ms. Olson served as a liaison and spokesperson on regulatory and corporate governance issues at Fitch Ratings, according to a news release from Algorithmics. She has conducted research and published work on financial regulation, in particular the impact of Basel II—the revised framework for capital measurement and standards—on banks, credit markets, credit risk, securitization and operational risk.

"Banks and regulators alike recognize the importance of best practice capital management, yet putting an effective program in place is a significant challenge," Ms. Olson said in a statement.

Ms. Wallace has overseen Algorithmics' field operations and has worked in business development and client relations. "Kim will be a great partner as we support the market momentum of Algorithmics," she said in a statement.