SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced new investment across the Asia Pacific region.

SmartStream’s Asia Pacific operations, which cover Australia, New Zealand, China, India, Japan, Korea and the ASEAN countries, has experienced significant growth over recent years. This latest investment reflects both the company’s focus on serving the newly expanded client base and recognition of the region’s continued economic growth prospects.

Richard Cummings will be responsible for leading the company’s investment in the region. Cummings, who until recently has been managing SmartStream’s operations in the UK, has been appointed Regional Director for SmartStream in Asia Pacific, following Stefan Wawrzyniak’s decision to retire. Wawrzyniak led SmartStream’s business in the region since 2004, during which time he transformed SmartStream’s business, working with a plethora of the region’s largest institutions to manage the successful deployment of the company’s TLM (Transaction Lifecycle Management) solutions.

Commenting on the organisational changes and investment, Ken Archer, CEO, SmartStream, said: “Stefan has established a solid foundation across the region that we intend to exploit. Under his leadership we have over-achieved against our own aggressive growth targets and created a fast growing, successful business that has demonstrated a proven ability to partner with the region’s largest and most exacting clients. We wish Stefan well in his retirement and welcome Richard in to this new role.”

Cummings joined SmartStream six years ago and has spent the last 18 months successfully leading the UK operation. Prior to working at SmartStream he previously held leadership positions with both Reuter’s and Sungard’s Risk Management businesses in Asia Pacific. Cummings will be based at SmartStream’s new regional headquarters in Singapore.

“I’m looking forward to this challenge”, said Cummings, “It’s a region I know well and one of the world’s most exciting markets. As firms across the geography continue to grow at a rapid rate, there’s a real need for better operational risk and cost control. SmartStream has already established itself as the de facto provider of Reconciliations and Corporate Actions solutions, however many of the company’s latest TLM solutions have yet to be introduced to the region. Over the coming months we’ll be introducing solutions for Cash and Liquidity management, Treasury Confirmations and Trade Process Management. It will be an exciting time for clients, staff and business partners across the region.”

SmartStream’s investment programme is already underway. The company has recently appointed a new Sales Director in the region – Anthony Campbell-Brown. Campbell-Brown has significant financial services technology experience, having spent time in senior management roles for CheckFree, Bloomberg, Logica and Capita IT Services. SmartStream expects to further build on this investment with a number of new appointments over the coming weeks and months.