Kathleen (Kate) O'Neil to Join IBM as General Manager, Global Markets Infrastructure

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Armonk, NY, USA - 29 Nov 2000: IBM announced today that Ms. Kathleen A. O'Neil will join its Financial Services Sector as General Manager - Global Markets Infrastructure, effective January 2, 2001.

Ms. O'Neil comes to IBM after more than 20 years at the Federal Reserve Bank of New York, where she was executive vice president and a member of the executive Management Committee.  Her career at the Fed included assignments as advisor to the president, officer in charge of the Financial Services Group, officer in charge of the Corporate Group, and chief financial examiner.  In addition to her extensive expertise in financial services, Ms. O'Neil has a command of technology, having worked with a number of complex systems from development through production.

In her new position, Ms. O'Neil will focus on the increasingly diverse and rapidly changing infrastructure supporting financial institutions, financial markets, and their customers and partners around the world.  She will head a new IBM unit which helps financial institutions capture emerging e-business opportunities by extending their core systems and infrastructure to the Internet. Ms. O'Neil will guide teams specializing in next-generation systems for payment, clearance, settlement, and electronic marketplaces.

Commenting on the appointment, Mr. Jerry Cole, general manager - Global Financial Services Sector, said, "Kate O'Neil is a highly regarded financial services executive who will be a welcome addition to the IBM team.  Her in-depth expertise in global financial systems, markets, institutions, and transactions will be a particularly good complement to IBM's global brand strength and to our support of our financial sector clients and partners."

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