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Fidelity National Information Services' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: FIS

I will now continue with Slide 7. We are making solid progress in expanding client relationships in all of the markets that we serve. Last week, we hosted the first of several client conferences scheduled for 2012. The discussions we are having with clients indicate that they are increasingly focused on driving future growth given the progress they have made to improve profitability and strengthen their balance sheets. I was also very pleased with the positive feedback regarding our product offerings and integrated solutions. We feel good about the strength of our client relationships. We recently completed 2 solution enhancing acquisitions to further expand our risk, broad and compliance offerings, which are key areas of focus for financial institutions. These acquisitions support our strategy to buy, build and invest in new products to cross-sell to our clients. Gary and Mike will provide additional details regarding these investments later on the call.

Throughout 2011 and 2012, we have made, and we'll continue to make, significant investments to improve our overall information security and risk management functions. For example, on March 9, we announced the hiring of Greg Schaffer as our new Chief Information Security Officer. Greg previously worked as Assistant Secretary for Cybersecurity and Communications for the Department of Homeland Security. On April 17, we announced the hiring of Greg Montana as our new Chief Risk Officer. Greg previously worked as Senior Operational Risk Executive for Bank of America. Both positions report directly to me. We look forward to the additional experience that these 2 new executives bring to FIS.

Overall, I am very encouraged with our strong start to the year and the progress we are making towards achieving our 2012 objectives. We are working hard to maintain this momentum and are committed to executing the strategy that we communicated at our Investor Day. As always, our management team and employees are focused on serving our clients, growing the business and driving value for our shareholders.

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