Thomas Brings Successful Track Record in Growing Revenues and Developing New Markets to the Expanding Financial Services Provider
San Jose, CA March 10, 2010 — NES Financial (NESF), a leading financial services provider for the banking industry and Fortune 500 companies, has named Reid Thomas to lead worldwide sales and marketing for the company. Thomas has proven success in growing revenues, building new channels and expanding strategic relationships into Fortune 100 companies, holding senior leadership positions in U.S. and Canadian technology firms.
In his new position, Thomas will oversee expansion of strategic marketing and sales efforts for NESF, including strategic growth into new markets. Thomas’ abilities include building agile sales organizations, establishing strong, strategic relationships with top tier partners, and substantially growing revenues for each of his companies throughout the past two decades.
“We have grown dramatically in this troubled economy where greater transparency, fund security and process management have become such a high priority for clients, from large corporations through individual consumers,” said Michael Halloran, president and CEO. “NESF needed to add the senior expertise and proven track record in building sales and marketing to meet the unprecedented demand for our business solutions; Reid delivers against all of those requirements.”
“The relentless focus on delivering solutions that protect consumers, comply with industry regulations and provide complete financial transparency has established NESF as a leader,” said Reid Thomas, executive vice president of sales and marketing. “With the turmoil in the financial markets, NESF is delivering solutions within the financial services sector that address compelling needs and has an incredible opportunity for expanded growth.”
Serving most recently as the senior vice president of worldwide sales and distribution for Laszlo Systems, Inc., Thomas expanded the company’s customer base with new Fortune 100 customers. He was also responsible for establishing strategic relationships with leaders in hardware, software and telecommunications industries.
Prior to Laszlo Systems, Thomas oversaw worldwide sales, business development and distribution for Sylantro Systems Corporation. Thomas grew the company to be an established market leader in Asia, Europe and North America with a six-fold percentage increase of annual revenues. Before Sylantro, Thomas served as executive vice president, sales and marketing for VINA Technologies, Inc. Over three years, Thomas was a key member of the executive team and drove results that lead the company to a successful Initial Public Offering.
Throughout the 1990s and into 2000, Thomas held a series of increasing management positions within Octel Communications, which was acquired by Lucent Technologies in 1997. Thomas built and managed extended teams in sales, customer service, field marketing and business development.
About NES Financial
NES Financial (NESF) is a provider of innovative solutions for administrating trusts, complex multi-party escrows and facilitating 1031 exchanges. NESF delivers transparency, security and compliance for the legal profession, the banking industry, Fortune 500 companies, and government agencies. The company’s solutions include proprietary state-of-the-art technology, professional services and expertise developed by subject matter experts in banking, real estate, leasing, transportation and tax law. NESF partners with leading banks, trust companies and other financial institutions to deliver point solutions providing the highest security, optimized best practices, and cost savings for their clients. As a result, NES Financial has become a leader for third-party escrow administration in the United States, with tens of billions of dollars processed each year.
NESF submits to independent annual audits of its technology, processes and control procedures to protect client assets, ensure the accuracy of reports and provide a comprehensive audit trail of financial transactions. Each year, NESF has received an unqualified SAS 70 Type II certification, enabling compliance with Sarbanes-Oxley Section 404 (SOX 404) and other state and federal standards for financial controls, privacy and reporting.
Nationwide Exchange Services, the company’s 1031 services division, is the nation’s leading provider of Internal Revenue Code Section 1031 Like-Kind Exchange services for Fortune 500 companies, servicing over $20 Billion of exchange transactions annually.