|By Marketwired .||
|July 9, 2014 01:06 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/09/14 -- Currency Exchange International, Corp. (the "Company") (TSX:CXI)(OTCBB:CURN) is pleased to announce that Ms. Linda A. Stromme will join the Company Board as an Independent Director and will be appointed to the Audit Committee, subject to regulatory approval.
Ms. Stromme brings to CXI a successful 23 year career with the Bank of Montreal, with executive level roles in Personal and Commercial Banking, Finance, Audit and Risk Management. Ms. Stromme is now the Principal and Founder of End Result Coaching & Consulting Inc., providing consulting services to financial institutions. End Result is an advisor for the University of Toronto, Rotman School of Management Directors Education Program, providing specific expertise on risk management governance. Ms. Stromme graduated with a Bachelor of Commerce (Honours) from the University of Manitoba, is a Chartered Professional Accountant (CPA, CA), and holds a Certification in Risk Management Assurance (CRMA).
Ms. Stromme will be replacing Dr. Sanford Pinna, who is retiring from the board after several years of service to its shareholders. As the original founder of Foreign Currency Exchange Corp (FCE) in 1987, Dr. Pinna along with his son Randolph, grew FCE from a small operation in Tampa to a publically traded multinational company, later merging with Bank of Ireland in 2003. In 2007, Randolph Pinna purchased the retail currency exchange division of FCE to create Currency Exchange International Corp. where Dr. Pinna has provided insight and strategic advice as a valued Director.
Mr. Randolph W. Pinna, Chairman, President, Chief Executive Officer and director of Currency Exchange International Corp. stated, "We welcome Linda to the board of directors of the Company. Linda has significant Canadian banking and risk management experience which will be invaluable as we grow our business in Canada. The board would also like to thank Dr. Pinna for his many years of service and dedication to our shareholders and employees."
Appointment of Chief Anti-Money Laundering Officer
CXI is also pleased to announce the appointment of Ms. Laura M. Houlihan as Vice President and Chief Anti-Money Laundering Officer (CAMLO). Ms. Houlihan was previously Vice President & Senior Global Financial Crimes Compliance Specialist at Bank of America. Ms. Houlihan brings to CXI over 15 years of anti-money laundering (AML) and anti-terrorist financing (ATF) compliance experience in the financial services industry. In her previous roles, she was responsible for developing, executing and maintaining AML/ATF compliance programs for Canadian financial institutions. In addition, Ms. Houlihan also previously worked for Bank of Montreal for 9 years in various roles, including branch audits for AML/ATF compliance.
Ms. Houlihan holds the Certified Anti-Money Laundering Specialist (CAMS) designation. She graduated with a Bachelor of Arts (Honours) specializing in business and political science from Wilfred Laurier University.
Mr. Peter Scherer, Chief Financial Officer of CXI stated, "We are very excited to bring on someone of Laura's caliber and experience to the CXI team to help oversee the growth of our business so that we continue to grow in a way that fully meets all regulatory requirements."
About Currency Exchange International, Corp.
The Company is in the business of providing a range of foreign currency exchange and related products and services in North America, including the Hawaiian Islands. Primary products and services include the exchange of foreign currencies, wire transfer payments, purchase and sale of foreign bank drafts and international traveler cheques, and foreign cheque clearing. Related services include the licensing of proprietary FX software applications delivered on its web-based interface, www.ceifx.com ("CEIFX") and licensing retail foreign currency operations to select companies in agreed locations.
The Company's services are provided in Canada by its wholly owned subsidiary, CXIC, based in Toronto, Canada through the use of CEIFX.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts and statements as to management's expectations with respect to, among other things, successful completion of the asset acquisition, continued growth of the Company's banknote business, increase in net revenues based on the acquisition, demand and market outlook for wholesale and retail foreign currency exchange products and services, proposed entry into the Canadian financial services industry, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "preliminary", "project", "will", "would", and similar terms and phrases, including references to assumptions.
Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Company's actual results, performance or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry, currency exchange risks, the need for the Company to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Company's proprietary rights, the effect of government regulation and compliance on the Company and the industry in which it operates, network security risks, the ability of the Company to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel, global economic deterioration negatively impacting tourism, volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital, and the regulatory approval process for a new Canadian Schedule I bank, as well as the factors identified throughout this press release and in the section entitled "Risks and Uncertainties" of the Company's Management's Discussion and Analysis for Three-Month Period Ended April 30, 2014. The forward-looking information contained in this press release represents management's expectations as of the date hereof (or as of the date such information is otherwise stated to be presented), and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Sep. 30, 2016 03:00 PM EDT Reads: 500
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Sep. 30, 2016 03:00 PM EDT Reads: 3,657
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your ...
Sep. 30, 2016 03:00 PM EDT Reads: 1,217
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 30, 2016 03:00 PM EDT Reads: 3,002
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Sep. 30, 2016 03:00 PM EDT Reads: 1,648
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Sep. 30, 2016 02:45 PM EDT Reads: 2,631
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 30, 2016 02:45 PM EDT Reads: 619
Sep. 30, 2016 02:30 PM EDT Reads: 2,461
Sep. 30, 2016 02:30 PM EDT Reads: 328
Sep. 30, 2016 02:30 PM EDT Reads: 5,224
Sep. 30, 2016 02:15 PM EDT Reads: 1,721
Sep. 30, 2016 02:15 PM EDT Reads: 1,154
Sep. 30, 2016 02:15 PM EDT Reads: 712
Sep. 30, 2016 02:00 PM EDT Reads: 3,570
Sep. 30, 2016 01:45 PM EDT Reads: 577