Qumram, a leading global provider of digital compliance solutions for the financial services industry, has announced two game-changing appointments to the firm’s Board of Directors, following its Annual General Meeting on June 6, 2016.

Peter Ödman is elected Member and Chair of the Board of Directors. Over a career spanning more than 20 years, with firms including PwC, IBM, Lodestone Management Consultants, and Infosys Consulting, Ödman has expertise in building global businesses, with a focus on financial services business advisory, implementation and management consulting. Responsible for co-founding Lodestone Management Consultants in 2005, and growing the firm from three to eight hundred staff over seven years, Ödman and his partners sold Lodestone to Infosys in 2012, for more than CHF 300 million. Subsequently, Ödman and his partners founded Zirconia, a Swiss-based venture capitalist firm, which was an early investor in Qumram.

Patrick Barnert, President and CEO at Qumram, is elected Member of the Board of Directors. Barnert is the visionary business leader and global entrepreneur who has been the strategic and operational lead for Qumram since September 2014. Barnert has held a variety of senior-level corporate leadership positions, most recently Senior Vice President at OpenText, where he was responsible for $800m global revenues, and built OpenText’s most strategic alliance in Enterprise Software with SAP. As co-founder and CEO of Unic, Barnert grew the business from two to one hundred and twenty employees, generating $40m in revenues today. Barnert is also a business angel for technology startups in the USA and Canada.

Uwe Krakau and Peter Nachbur (former Chair) remain as Members of the Board of Directors. Krakau is a highly experienced commercial and financial services advisor, while Nachbur is responsible for delivering vital expertise concerning compliance and legal aspects of digital business.

Commenting on the appointments, Qumram co-founders Simon Scheurer and Mathias Wegmüller said: “Qumram began life with an innovative idea to increase transparency of digital business, with special focus on highly regulated sectors. Based on responses from both clients and industry analysts we know the time is right to capitalize on the financial services market opportunity. While we continue to focus on our personal core strengths of development and sales, we are delighted to be working with so many talented and experienced colleagues to lead the business to commercial success across Europe and North America.”