Alan Hutton, FundSERV Inc. president and CEO, announced today he will retire from FundSERV at the end of fiscal 2007.

Hutton has been a member of the FundSERV board since 1998 and was appointed president and CEO in 2001.

“The past six years at FundSERV have been challenging and exciting” said Hutton, in a news release. “We have contributed significantly to the investment funds industry’s growth. Our success in reducing the time, cost and risk of our customers’ interactions has been very satisfying. I’d like to thank our talented management team and staff for their commitment to FundSERV and support of my leadership.”

Brian Gore will succeed Hutton as president and CEO of FundSERV. Prior to this appointment, Gore was director of Citigroup corporate and investment banking. He has been a member of the FundSERV board since 1997 and served as chair from 2000 to 2003. Gore will join the FundSERV executive team in September and work with Hutton to ensure a seamless transition.

“On behalf of the board of directors, I would like to commend Alan Hutton for the impressive work he’s done over the past six years as president and CEO,” said David Pauli, chairman of the FundSERV board. “Alan played a key role in defining and advancing the FundSERV vision, mission and values at a pivotal point in the company’s development. He raised the FundSERV brand to an enviable level of respect within the industry.

“I would also like to congratulate Brian Gore on his appointment as president and CEO of FundSERV,” he added: “Brian has a long and impressive history with the company and is a natural choice to lead FundSERV into the next phase of its development. I look forward to working with him in his new role.”

FundSERV Inc. is a leading provider of electronic business services to the Canadian investment fund industry. Established in 1993, FundSERV operates an application-enhanced hub and spoke network linking investment fund manufacturers with their distribution channels.