Jersey City, NJ - December 1, 2009 - HCL AXON, a division of HCL Technologies, a provider of Business Transformation consulting services through the innovative implementation and support of SAP applications, is pleased to announce that Jonathan Bobalik has joined HCL AXON as the Global Vice President of Insurance. In this role, Jonathan will focus on the strategic expansion of HCL AXON within the insurance industry. Jonathan will help HCL AXON expand its service portfolio with its existing customer base, while acquiring new strategic customers who are seeking innovative, technology-based solutions to succeed in addressing business challenges in the global insurance marketplace. This appointment is on the heels of HCL's announcement of a $200 Million deal with Equitable Insurance and their first entrée into the prestigious FinTech 25 List of the Industries largest providers of technology to Financial Services Companies.
Prior to his appointment at HCL AXON, Jonathan worked at SAP for nearly eight years, where he supported and led various activities across the full spectrum of development, sales, delivery and support for the insurance solutions in Europe and the Americas, most recently as a Director in the Insurance Industry Business Unit, responsible for the Insurance Analytics portfolio based on the SAP Business Objects platform. Prior to SAP, Jonathan co-founded Suretec, an insurance software and services company in Germany, after holding the role of Director of Development for PMSC's Central European subsidiary.
"The invaluable experience and expertise that Jon brings to HCL AXON will help us to significantly expand our global insurance practice and build on the excellent foundations already created. Jon's vision, passion for excellence and focus on customer success are closely aligned to HCL AXON's goals and will drive the achievement of our 2010-2012 strategy in this area of our business," remarked Ian Greenhalgh, Global EVP of Business Development.
Regarding his new role, Jonathan stated, "I am thrilled to be joining HCL AXON and ready to use my experience and expertise to help grow their insurance industry practice. HCL AXON's value proposition, coupled with a solid track record of delivery excellence has truly gained industry attention and I am very excited to be here to help HCL AXON expands its leadership role within the SAP Ecosystem around the world."
This announcement comes on the heels of HCL's recently announced, $200M agreement with UK-based insurance firm Equitable Life Assurance Society. This is HCL's first major financial services win since the acquisition of Liberata Financial Services in 2008. The agreement reinforces HCL's position as an established and experienced provider of strategic life and pensions outsourcing solutions. Also, HCL made an entrée into the FinTech 25 ranking of the top global technology providers to the financial services industry for the first time. Developed by SourceMedia publications, American Banker and Bank Technology News and in association with IDC Financial Insights, the list recognizes the top global technology and service providers in the financial services market. The ranking is categorized and evaluated based on CY08 year-end revenues and the percentage of revenues attributed to financial services.
The HCL Technologies stock closed the day at Rs.340, up by Rs.3.75 or 1.12%. The stock hit an intraday high of Rs.344.90 and low of Rs.337.25.
The total traded quantity was 85558 compared to 2 week average of 139790.
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