The expansion will enable Citisoft to increase the breadth of its global services, enhancing localized support and implementation of global initiatives such as 24/7 trading, post-merger integration projects and enterprise application implementations. The merged company will offer investment management institutions an exceptional level of experience in implementing system strategies covering every business function through the front, middle and back office.

The Rowan Group's clients will benefit from immediate access to Citisoft's expertise built on a 16-year track record of project management and implementation at the world's foremost investment management firms. Citisoft offers product knowledge, an experienced resource pool and proven processes such as fast-track system evaluation and selection. Citisoft will leverage The Rowan Group's US market intelligence, reputation and vendor relationships to enhance its service to its large portfolio of clients with US operations and accelerate its expansion in the US.

Jonathan Clark, Executive Director of Citisoft plc comments:

"Citisoft's position as the market's leading provider of consulting services to the investment management industry requires that we expand to meet client demands for local servicing on global projects. By merging with Boston-based The Rowan Group we immediately establish a very strong presence in North America, resourced with an exceptional team of career consultants. From this base we will be able to extend our offering of professional, client and result focused consulting services to US and global investment managers."

Daniel Houlihan, co-founder of the Rowan Group, now Managing Director of Citisoft, Inc., comments:

"Citisoft and The Rowan Group's decision to merge was motivated by the exceptional level of commonality and synergy in industry focus, culture and approach between the two companies. From executive decision-making to service definition and delivery - it was clear that together we could provide exceptional quality to the global financial services marketplace.

About Citisoft
Citisoft (incorporating The Rowan Group) is a specialized consultancy that focuses solely on investment management. With a client base of more than 75% of the top 50 global asset managers, Citisoft is the foremost supplier of strategic planning and implementation services to the investment management sector.

Established in 1986, Citisoft has the largest pool of investment management expertise of any consulting firm. Citisoft combines analysis, planning and project management methodologies with expert knowledge of asset management business models, processes and technology. Citisoft is independent of all suppliers and service companies.

Citisoft has a high degree of specialization in areas including Straight Through Processing, client reporting, performance measurement, decision support, order management, trade execution and outsourcing administration and custody. Citisoft also has a division that is dedicated to providing consulting services for Transfer Agency.