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Former Siebel Executive Joins SAP to Lead U.S. Banking and Insurance Operations |
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James Hughes Joins Enterprise Software Market Leader, Reinforces SAP’s Commitment to Financial Services Industries
NEWTOWN SQUARE, Pa. - July 25, 2005 - SAP America, Inc., a subsidiary of SAP AG (NYSE: SAP), today announced the appointment of James “Jim” Hughes to lead SAP’s U.S. and Canadian operations for the banking, insurance and leasing industries. As senior vice president of financial services for the North American region, Hughes will be responsible for providing strategic direction to SAP’s field sales organization, solution engineers, professional services and operations for these financial services industries.
Prior to joining SAP, Hughes was the vice president and general manager for financial services at Siebel Systems, where he had responsibility for product and sales for the company’s vertical solutions, including retail banking; investment banking and capital markets; insurance and healthcare. During Hughes’s tenure, he supported sales for Siebel’s existing products, as well as a number of strategic product acquisitions. Prior to that, Hughes served as the president of Avistar Communications Corporation (Nasdaq: AVSR), where he successfully grew the company’s install base by 725 percent in three years.
“The banking and insurance industries are continuously changing and the demand for integrated technology solutions to support their customers’ needs is critical,” said Bill McDermott, president and CEO, SAP America, Inc. “Recruiting top talent like Jim Hughes to the SAP America team supports our strategy and commitment to our customers to provide leading financial services solutions.”
Hughes received his Master of Business Administration and Bachelor of Marketing degrees from the Santa Clara University in California.
SAP for Banking provides an integrated solution set to manage every aspect of the banking environment—from high-volume transactional banking processes and customer relationship management to financial accounting, cost controlling and profitability and risk analysis. With more than 550 customers in 60 countries worldwide, SAP for Banking helps financial institutions expertly manage transactions and relationships, quickly identify and exploit market opportunities and easily tailor new products to individual customer needs. (Additional information at )
SAP for Insurance is an industry-tailored solution set designed to help insurance companies control costs and seize new opportunities while strengthening customer loyalty with applications that can be implemented in stages according to the company’s strategic business goals, priorities and available resources. Serving approximately 400 customers worldwide in 45 countries, the industry solution seamlessly links core insurance processes with customer-facing functions and back-office operations—from first customer contact through policy and product management, collections, disbursement and claims management. (Additional information at )
About SAP
SAP is the world’s leading provider of business software solutions*. Today, more than 28,200 customers in over 120 countries run more than 96,400 installations of SAP® software—from distinct solutions addressing the needs of small and midsize enterprises to suite solutions for global organizations. Powered by the SAP NetWeaver® platform to drive innovation and enable business change, mySAP™ Business Suite solutions are helping enterprises around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP industry solutions support the unique business processes of more than 25 industry segments, including high tech, retail, public sector and financial services. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.”
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