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Attention Business Editors:
Michael Johnston Former Chairman of Merrill Lynch Credit Corporation Joins the Basis100 Board of Directors
TORONTO, Oct. 17 /CNW/ - Basis100 Inc. (BAS:TSE), an e-commerce
technology solutions provider for the financial services industry, announced
today that Michael Johnston, former Chairman of Merrill Lynch Credit
Corporation, has joined the company's Board of Directors.
Michael Johnston spent more than 32 years in the U.S. financial community
and comes to the Basis100 Board of Directors from Merrill Lynch Credit
Corporation (MLCC), where he was the Chairman, President & CEO, serving the
consumer mortgage and investment market. Mr. Johnston is a recognized
financial services visionary who successfully "trail-blazed" Merrill Lynch's
business model in a non-traditional credit business category.
"Michael's extensive background in creating and delivering innovative
mortgage products and services will provide focus and guidance for Basis100's
successful introduction of new solutions to the U.S. mortgage industry," says
Gary Bartholomew, Chairman and CEO. "He will aid us as we capitalize on our
current client relationships, leverage our technology and continue to grow our
presence in the U.S. Michael's incisive direction, along with his retail and
capital markets background, will be invaluable to our organization's ongoing
success and international growth strategy."
Mr. Johnston, who had been with Merrill Lynch since 1969, was directly
responsible for building the Merrill Lynch Credit Corporation as an
independent, self-contained business unit, which has been profitable every
year since 1983. MLCC has also consistently rated 85 percent and higher for
client satisfaction, which complements Basis100's model to provide to its
customers business-driven solutions through technology.
A Bronx, NY native, Michael is a graduate of Pace University with a
B.B.A. in finance and an A.A.S. in accounting from Bronx Community College in
New York. He is an active member of the Mortgage Brokers Association of
America (MBAA), holding a board position with the Residential Board of
Governors & Industry Leaders arm. He remains active in the community with his
volunteer work with the Clara White Mission, as well as the United Way of
Northeast Florida.
Mr. Johnston's appointment is subject to TSE approval.
About Basis100
Basis100 is a leading e-commerce technology solution provider for
financial institutions and service providers enabling them to build,
distribute, buy and sell their products and services in new ways. Basis100 is
focused on the mortgage origination, consumer credit, fixed income trading,
and service vendor markets across North America and internationally. For more
information about Basis100, visit www.basis100.com.
Forward-looking (safe harbour) statement
Statements made in this news release that relate to future plans, events
or performances are forward-looking statements. Any statement containing words
such as "believes", "plans", "expects" or "intends" and other statements which
are not historical facts contained in this release are forward-looking, and
these statements involve risks and uncertainties and are based on current
expectations. Consequently, actual results could differ materially from the
expectations expressed in these forward-looking statements. |
