Patsystems names two non-executive directors

UK electronic trading software company, patsystems, today named Stewart Millman as non-executive chairman and Richard Last as a non-executive director.

The move follows the switch of patsystems’ shares from the London Stock Exchange’s main bourse to its less-regulated AIM market. A number of technology companies, which have seen their share prices plunge in the past 18 months, have instigated such moves ahead of an expected consolidation of software companies in the next 12 months.

Millman has worked as an institutional investment manager and corporate financier at UK banks such as HSBC Investment Bank, NatWest Markets and BZW for more than 30 years. He is currently a non-executive director at Decillion, a financial services company listed in South Africa, and Profile Media Group, which is listed on AIM.

Last is currently the chief executive of Lynx, the software systems and services group, and the non-executive chairman of Xpertise Group, an IT training company listed on AIM. Last, trained as a chartered accountant, is also a director of a number of Venture Capital Trusts.

Patsystems now has a main board consisting of four non-executive directors and two executive directors. “Together we look forward to growing patsystems into a profitable and major force in our industry," said patsystems chief executive Kevin Ashby.