29West Inc. Adds Former UBS Executive to Management Team

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Firm hires former UBS Managing Director to lead worldwide business development; opens North Carolina Research Triangle office.

29West, Inc., the Chicago-based developer of high-performance messaging software solutions, today announced that Matt Meinel, a former Managing Director at UBS, has joined the management team of 29West as Global Director of Business Development and head of 29West's new regional office in the Raleigh/Durham, North Carolina area.

"Matt brings significant expertise in global financial markets, business development, front office systems architecture, and IT management to 29West. His experience will enable us to even more closely align our product to the unique high-performance messaging needs of the global banking community. I am looking forward to working with Matt again”, stated 29West's President and Founder Mark Mahowald. In 1984-86, Matt worked with Mark on the team that designed and built the original Reuters Triarch system at Rich/Reuters. Following that Matt served at the UBS Investment Bank and its predecessor organizations -- Swiss Bank Corp and O'Connor & Associates - for 15+ years starting as software architect/project leader with O'Connor & Associates and rising to CIO level positions at Swiss Bank Corporation and later within the Fixed Income & Treasury Division of UBS. Matt spent 5 years living and working in London and ran global IT development groups within UBS for 10+ years. Matt also served on the board of Swapswire.com and helped create FPML, serving as founding co-chair of the Standards Committee. Since 2003, Matt has been providing IT management consulting and coaching to IT companies serving the global banking community like Red Hat and 29West.

Matt said, "I am excited to be joining the 29West team. With its Latency Busters® Messaging (LBM) software 29West has created a breakthrough messaging solution that is significantly faster and more stable than its competitors. While at UBS, I experienced firsthand the advent of electronic trading and electronic exchanges in foreign exchange, equities, fixed income and commodities. Every electronic trading or exchange system I can think of could increase its performance and stability using LBM. I am looking forward to helping our customers adopt this paradigm shift in messaging software.”

About 29West

Founded in 2002 by a former Talarian executive, 29West team members have been at the forefront of high-speed, real-time data distribution and networking since the mid-1980s. They created the original architecture and led the implementation of the first Rich/Reuters TRIARCH digital trading floors. They also crafted the TCP/IP stack that was shipped with many major OEM UNIX implementations, including SVr4 from AT&T USL. Additionally, 29West engineers were responsible for the first commercial implementations of Cisco's PGM reliable multicast protocol, as well as the commercialization and support of the Lucent-designed RMTP II reliable multicast protocol. For more information, visit http://www.29west.com.

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Mark Mahowald
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