Foster City, Calif., March 20, 2007 - FirstRain®, the leading provider of search-driven research applications for investment professionals, today announced that it has formed a seven member board of advisors. The board is comprised of senior executives from prominent firms in the investment management and financial research technology industries.
"I am delighted to welcome these talented individuals to FirstRain's board of advisors," said Penny Herscher, president and CEO of FirstRain. "They are each knowledgeable, well respected leaders in research and financial services. I am confident that their expertise, experience and passion will help FirstRain to further our goal of delivering personalized differentiated content to the institutional investment community."
FirstRain provides a ground-breaking service combining cutting-edge search technology with a unique research methodology that acts as a personalized research service for the financial professional. The service delivers highly relevant information and is configured to specifically match each client's needs, investment strategies, and market context. As a result, FirstRain clients are able to see information that they would not see otherwise, allowing them to ask and answer more effective questions, identify emerging trends faster, and generate better ideas.
"The model for traditional equity research is broken and the market is now shifting to innovative new approaches like FirstRain," said Sandy Bragg, president and co-CEO of Integrity Research Associates and former executive managing director of equity research for Standard & Poor's. "FirstRain's service exemplifies the creativity being applied to investment research, as hedge funds and asset managers seek fresh insights. I look forward to working with FirstRain as they refine their response to the growing market need for alternative research."
The board of advisors will provide strategic guidance and leadership to FirstRain, and is designed to serve as an active resource in the evaluation and capitalization of new opportunities and business development. Members include:
"Too much information simply becomes noise," said Renny Ponvert, founder and CEO of Management CV, Inc. and former president of Hemscott, Inc., which was sold to Ipreo in late 2006. "FirstRain is solving the monstrous problem of finding and filtering information across the myriad of internet information sources. It provides clients with a caliber of real-time situational awareness they just couldn't achieve on their own."
FirstRain will work closely with the board of advisors to develop strategies and enhance the company's technology solution for institutional investment professionals. They will advise FirstRain on key trends and challenges in the financial services, research and technology, as well as providing input and feedback about the company's key product offerings.
"Investment professionals are looking for differentiated information to keep ahead of their competition," said Frumberg. "I was drawn to FirstRain because their approach delivers a distinct advantage over traditional research solutions. I look forward to helping the FirstRain solution gain broad adoption by the market."
FirstRain provides a powerful information advantage to investment professionals. Through the use of search-based applications, FirstRain uncovers information that its customers wouldn't see otherwise that helps them see their investments in market context. Clients receive information tailored to their particular investment strategy and view of the market. As a result, FirstRain enables clients to ask better questions, generate ideas and identify trends to make better investment decisions faster. FirstRain is a privately held company headquartered in Foster City, Calif., with additional offices in New York, NY, and Gurgaon and Mumbai, India. Contact FirstRain at www.firstrain.com.
Ogilvy Public Relations