FiREapps CEO to Present at Thunderbird School of Global Management Foreign Exchange Exposure and Risk Management Program

May 28, 2008

New Thunderbird Financial Services Center Launches FX Certification Program, Beginning with an Inaugural Workshop June 1-3, in Riyadh, Saudi Arabia

SCOTTSDALE, AZ. — May 29, 2008

FiREapps, the leading provider of corporate foreign exchange exposure management software, announced today that CEO Wolfgang Koester has been invited by his alma mater, Thunderbird School of Global Management, to co-develop curriculum and lecture as part of the school’s new foreign exchange exposure and risk management certification program. The program is scheduled to be launched June 1-3 in Saudi Arabia for senior level executives in treasury, through a sponsorship with the Riyadh Chamber of Commerce and Industry. The program will be expanded in Fall 2008 to produce certified foreign exchange enterprise risk managers for multinational companies worldwide.

Unlike other areas of accounting and finance, there is little structured education and training for foreign exchange managers at colleges and universities. As a result, foreign exchange managers have been left to their own creativity, instincts and the use of spreadsheets to record and understand their company’s foreign exchange exposure.

Director of the Thunderbird Global Financial Services Center and Professor of Global Finance, John Mathis, invited Koester to share with future finance executives the business and technology trends impacting foreign exchange exposure management. “Thunderbird is committed to preparing our students with the most cutting-edge knowledge and tools to ensure their success,” said Mathis. “We are pleased that Mr. Koester and his organization, FiREapps, are committed to educating current and future business leaders about the critical issue of foreign currency risk, and appreciate his willingness to share his experiences with best practices and technologies to create sustainable prosperity worldwide.”

About FiREapps

FiREapps, a subsidiary of Rim-Tec, Inc., is the leading provider of foreign exchange exposure management software. The company provides technologies and services that help corporations optimize foreign exchange processes. These solutions help customers mitigate risk while increasing profitability and operational efficiencies. FiREapps has offices in Scottsdale, Arizona, Boston, Massachusetts and Portland, Oregon.

About Thunderbird

Since its founding in 1946, Thunderbird has been synonymous with global leadership in business education. This leadership is recognized by major publications around the world, which have consistently named Thunderbird as a leader in global business education. The following is a list of the school’s current rankings:

  • #1 International Full time MBA, U.S. News and World report 2007, 12th year running
#1 International Business MBA, Wall Street Journal 2005, 5th year running

  • #1 Global Business EMBA, Business Week, 3rd year running

  • #1 Intercultural Management Worldwide, America Economia

  • #3 Best overall in Latin America, GMBA for Latam Managers, Expansion

  • #7 in world for Custom Programs, Financial Times 2007
#4 in world for Executive Education faculty, Financial Times 2007
#7 in World for International Schools, Wall Street Journal 2006
  • #8 in World for Custom Programs

  • #15 in World for Open Enrollment Programs, Financial Times 2007

About Koester

Koester is the CEO of FiREapps, the leading foreign exchange exposure management software firm. Koester has been managing risk for Fortune 100 companies as well as governments, including G-10s, since 1986. Prior to forming Rim-Tec, Koester served as President with GFTA Trendanalysen Inc., a quantitative currency manager. Koester holds a Bachelor of Science from Arizona State University and a Master's Degree in International Management from Thunderbird School of Global Management. He is regular contributor to the Association of Finance Professionals Risk Newsletter and AFP Exchange publication, and is frequently cited in finance industry publications such as Treasury and Risk, GT News and eForex.


Dara Sklar or Britt Gottlieb

Schwartz Communications