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Day: June 18, 2007

American Express # 2 – Management Change – Anre Williams and Valerie Soranno Keating appointed

  Anre Williams (previously, Executive Vice President of US Commercial Cards) will become head of global commercial cards at American Express, while Valerie Soranno Keating (previously, President of Travelers Cheques and Prepaid Services) will become executive vice president of Global Marketing and Source-to-Settle. According to the press release: “Anré and Val are two of the company’s most seasoned and accomplished executives. They each have a keen focus on the customer and have demonstrated their commitment to making their teams successful,” said Ed Gilligan, Group President, American Express International and Global Corporate Services. “Val and Anré are assuming leadership of a…

JP Morgan Chase # 1 – Management Change – Gordon Smith appointed

  Gordan Smith, President of American Express company’s Global Commercial Card Group resigns from the company and joins JP Morgan Chase to head company’s Card Services group. Smith succeeds Richard Srednicki, who is retiring from JP Morgan Chase. Smith will report to Jamie Dimon, Chairman and CEO of JP Morgan Chase in addition to joining the Operating Committee. According to the press release: “We’re very pleased that Gordon Smith will be leading our Card effort. Gordon is a world-class leader who is highly experienced and respected in the industry,” Mr. Dimon said. “We look forward to working with him as…

Readsoft #1 – Quick analysis of finances

ReadSoft UK, an established player of document capture and accounts payable automation employs approximately 31 people and reported revenues of £3.876m in 2005, a decline of 29% from £5.475m in 2004. Increased competition was given as a reason for the revenue decline. Since then changes have been brought to senior management and sales force has been realigned. In terms of profitability, company reported operating loss of £433k (2004: £609k positive), net loss of £301k (2004: £367k positive) and retained profit of £973k (2004: £1,274). However, during the period, highest paid director’s income increased from £147,000 to £177,000 with pension contributions remaining…